Drowning in Paper

Regulatory relief has been a goal of the banking industry, Congress, and the federal banking agencies for more than 10 years. But during that time, rather than seeing the quantity of regulatory requirements diminish, the industry has experienced an exponential increase in the number of regulations with which it must comply in order to do day-to-day business. Per the Economic Growth Recovery Paperwork Reduction Act, the federal banking agencies - under the leadership of John Reich, vice chairman of the Federal Deposit Insurance Corp - are currently in the process of an interagency review of all regulations. America's Community Bankers continues to work for regulatory relief, both by suggesting existing regulations that can be eliminated or streamlined and by looking at proposed regulations to determine whether their burden is necessary.