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Federal Register Publications

FDIC Federal Register Citations



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FDIC Federal Register Citations


Rockville Bank


19 April 2004

The Honorable John M. Reich
Vice Chairman
Federal Deposit Insurance Corporation
550 17th Street NW
Washington, DC 20429

Dear Mr. Reich;

I am writing in response to your help request for "Regulatory Burden Reduction Initiative". I am a veteran banker (45 years) who has become increasingly frustrated with the amount of bank regulation and regulatory reporting we, as bankers, have to deal with each and every day.

1. The regulation that has created a major financial burden for banks is the Graham, Leach, Bliley Act (GLBA).

2. We are a holding company and are therefore regulated by both the Federal Reserve and the FDIC. My recommendation for reporting relief is a standardized call report that is acceptable to both regulatory bodies.

3. I also recommend modifying lending related consumer protection laws.

I hope this letter and those from my colleagues will help improve the regulatory process.

Sincerely,
Joseph F. Jeamel, Jr.
Executive Vice President

 


 
Last Updated 05/11/2004 regs@fdic.gov

Last Updated: August 4, 2024