Mortgage

OCC grants 7 banks extra time to comply with Dodd-Frank

The Office of the Comptroller of the Currency granted seven banks transition periods, giving them extra time to comply with the push-out requirement, an article in Reuters said. 

The requirement, part of the 2010 financial law, attempts to keep certain risky trading activity out of entities that receive government backstops, such as deposit insurance or access to the Federal Reserve’s discount window.

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