Bush signs bank-friendly regulatory relief bill

Bush signs bank-friendly regulatory relief bill

U.S. banks, thrifts and credit unions will be subject to fewer regulations thanks to a law enacted by President Bush on Friday.
The bill, passed by the House on Sept. 27 and by the Senate on Sept. 30, calls for the Securities and Exchange Commission and the Federal Reserve to develop rules exempting banks' brokerage activities from oversight by securities regulators. Previous rules suggested by the SEC were opposed by banks.

Full article