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Washington
Inside Washington (04/18/2012)
  • WASHINGTON (4/19/12)--Republican lawmakers were more even-handed Tuesday in their remarks about how the Securities and Exchange Commission (SEC) is making improvements to its economic analysis of proposed new Dodd-Frank Act regulations. Republican lawmakers have criticized regulators for not accounting for the true cost of regulations associated with Dodd-Frank-related rules. At a hearing on Tuesday, Rep. Patrick McHenry (R-N.C.) said he was hopeful the SEC's cost-benefit analysis of the regulations would lead to an improved decision-making process. The SEC's March 16 memo followed a July 2011 appeals court ruling that cited the agency for not properly conducting a cost-benefit analysis before finalizing a rule required by Dodd-Frank. A January 2012 report by the SEC's inspector general also criticized the agency's method of analysis …
  • WASHINGTON (4/19/12)--In his first speech as comptroller of the currency, Thomas Curry stressed the Office of Comptroller of Currency's (OCC) role as its relates to community banks and small-business lending.  Small business and community banking are primarily locally focused, said Curry, speaking before a small business summit in Washington. "While the major share of small-business lending is done by large and midsize banks and thrifts, it's important to remember that small business is an intensely local undertaking, as is community banking," he said. "From our position as a nationwide regulator, the OCC brings significant resources and expertise to the table. But our local presence in communities throughout the country provides an equally important perspective." Local banks and thrifts are in the best position to make credit decisions about the small businesses in their communities, Curry said. "We won't try to substitute our judgment for that of the bank, nor will we discourage banks and thrifts from making creditworthy loans to small businesses," he added. "In fact, we and the other federal banking agencies have consistently encouraged the institutions we supervise to make loans to creditworthy borrowers, especially in difficult times " …


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