Fed proposes eased standards for all but the biggest banks

The Marriner S. Eccles Federal Reserve in Washington. Foto: Bloomberg photo by Andrew Harrer.

Regulators have proposed a softer oversight regime that dials back rules for U.S. banks considered unlikely to pose a threat to the financial system -- a step meant to limit the toughest demands only to the largest lenders.

Responding to legislation that called on federal agencies to ease compliance burdens for non-Wall Street banks, Federal Reserve governors voted Wednesday on a plan that would separate megabanks from smaller, regional lenders. Under the proposals, banks such as U.S. Bancorp, Capital One Financial and PNC Financial Services would escape the most stringent capital rules reserved for systemically important institutions...

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