Federal Reserve Board and FDIC Propose to Modernize Insider Lending Rules by Updating Regulation O Thresholds

The Federal Reserve Board and the Federal Deposit Insurance Corporation have issued substantially identical notices of proposed rulemaking to modernize the regulations governing extensions of credit by banks to their executive officers, directors, principal shareholders, and their related interests. Because the agencies supervise different categories of insured depository institutions, each is proposing amendments to its own regulations, although the proposals are virtually identical in substance…. Continue Reading