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The Equal Credit Opportunity Act (ECOA) of 1974, implemented by Regulation B, requires creditors which regularly extend credit to customers—including banks, retailers, finance companies, and bank-card companies—to evaluate candidates on creditworthiness alone, rather than other factors such as race, color, religion, national origin, or sex ...
Arguably the most important requirement in bank regulation that supervisors must enforce is maintaining capital requirements. [4] As banking regulation focusing on key factors in the financial markets, it forms one of the three components of financial law, the other two being case law and self-regulating market practices. [5]
It forced all banks to abide by the Fed's rules. It relaxed the rules under which national banks could merge. It removed the power of the Federal Reserve Board of Governors under the Glass–Steagall Act to use Regulation Q to set maximum interest rates for any deposit accounts other than demand deposit accounts (with a six-year phase-out). [2]
In a statement, Tim Scott, R-S.C., incoming chair of the Senate Banking Committee, assailed Barr both for his push for tougher regulations and inadequate oversight that helped lead to a bank run ...
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An Act to reform Federal deposit insurance, protect the deposit insurance funds, recapitalize the Bank Insurance Fund, improve supervision and regulation of insured depository institutions, and for other purposes. Nicknames: Bank Enterprise Act of 1991: Enacted by: the 102nd United States Congress: Effective: December 19, 1991: Citations ...
The 1933 Banking Act gave tighter regulation of national banks to the Federal Reserve which required state member banks and holding companies to make three reports annually. The reports were to be given to their Federal Reserve Board and Federal Reserve Bank. [11]
"For the last several years, U.S. bank regulators have unilaterally and undemocratically barred banks from offering crypto services," Coinbase Chief Policy Officer Faryar Shirzad said on social ...