Fed Delays Effective Date of Bank Control Rule Due to Coronavirus

American Banker, Mar. 31, 2020–Hannah Lang (subscription)
The Federal Reserve is postponing the effective date of a rule dealing with regulatory requirements for investors who own less than a quarter of a bank. The central bank said Tuesday it will delay implementation by six months, to Sept. 30, of a January rule clarifying standards under the Fed’s bank control framework. The extension is meant to allow banks to focus on effects of the coronavirus pandemic.