Yellen promises ‘tailored' regulation for community lenders
Fed chair addresses criticism that smaller lenders face undue burden
The Federal Reserve is taking a "fresh look" at how to make supervision of community banks "smarter", in part by exempting them from "overly complex accounting rules" that would increase costs to little benefit, according to Janet Yellen, the central bank's chair.
Yellen said at a gathering in Washington, DC, today that the Fed was working with the Financial Accounting Standards Board (FASB) to ensure that a new accounting standard for credit losses on loans and securities – "an important
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