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Unformatted text preview: Regulations / Regulatory Reform • See TABLE 2-7 for complete list of major bank legislation. – In July 2010, historic and sweeping financial legislation was passed (Dodd–Frank Wall Street Reform and Consumer Protection Act). • Reform was needed to protect the global economies from crisis triggered by risky investments in U.S. home loans. • During the semester, pieces of the legislation will begin to be detailed and implemented. 1 Regulators and Regulations • The U.S. has a dual-banking system with national and state banks. • A bank’s charter class determines the agencies that supervise it. – Banks chartered by the federal government are ‘national banks’ and are supervised by the OCC. – Banks chartered by a state are ‘state banks’ and are supervised by their State Bank regulator, AND… • …the Fed if it elects Federal Reserve membership (state member banks)....
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This note was uploaded on 01/26/2012 for the course FIN 4620 taught by Professor Patriciarobertson during the Spring '12 term at Kennesaw.
- Spring '12