Monday, September 15, 2008

FDIC streamlining regulation

Here is the latest press release from the FDIC:

“The Federal Deposit Insurance Corporation (FDIC) and the Texas Department of Banking (TDOB) executed an information-sharing agreement allowing for the exchange of information relating to Money Services Businesses (MSB) supervision. This agreement will provide for a formal information-sharing process and is designed to enhance the ongoing working relationship between the two agencies.”

And

“The Federal Deposit Insurance Corporation (FDIC) and the New York State Banking Department (NYSBD) executed an information-sharing agreement allowing for the exchange of information relating to Money Services Businesses (MSB) supervision. This agreement will provide for a formal information-sharing process and is designed to enhance the ongoing working relationship between the two agencies.”

Expect another 48 similar press releases to come. This is just another indication that the U.S. government is streamlining regulation in the banking sector. Get ready for Uncle Sam to step in.

1 comment:

  1. Right on, Rebecca! Is this the prior planning start? What about the multi-financial sector companies?

    ReplyDelete