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AmericasMay 4 2008

US banks reeling from regulatory review

The proposed radical shake-up of financial regulation in the US has rattled the banking industry, writes Michael Imeson.
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The US Treasury Department is proposing an overhaul of the US financial regulation system. The blueprint for a Modernised Financial Regulatory Structure, released on March 31, is intended to strengthen consumer protection, improve market stability and enhance financial innovation. Banks have voiced strong opposition – especially peeved at measures that threaten thrift institutions and the system of state-chartered banks.

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