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May 1, 2014

Yellen Says Fed Seeking Smarter Oversight of Community Banks

“Chair Janet Yellen said the Federal Reserve will tailor its supervision of community banks to reduce their regulatory burden, and that small lenders shouldn’t face the same sort of oversight as the biggest financial firms.

“’We are taking a fresh look at how we supervise community banks and possible ways that supervision can be smarter, more nimble, and more effective,’ Yellen said today in a speech in Washington to the Independent Community Bankers of America. ‘A one-size-fits-all approach to supervision is often not appropriate.’

“The central bank is ‘taking a disciplined approach’ to regulation that weighs the costs and benefits of regulatory implementation, ‘asking whether it makes sense for a specific policy to apply to community banks,’ Yellen said. She did not discuss monetary policy.”

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Read full Bloomberg Businessweek article here

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