U.S. Representatives Carolyn B. Maloney (D-NY) and Patrick McHenry (R-NC) introduced a bill that would require all eight U.S. financial regulators to enact a set of data collection and dispersion standards for reported information.
The Federal Reserve Board, FDIC and Office of the Comptroller of the Currency rule release, adopting rules to reduce reporting requirements for eligible small depository institutions, was published in the Federal Register.
The FDIC will rescind and remove certain rules requiring the disclosure of financial and other information by FDIC-insured state nonmember banks. The final rule will become effective on April 17, 2019.