WASHINGTON (Reuters) – The Federal Reserve announced Tuesday it was delaying for six months new rules dictating when a company takes control of a bank and must face stricter oversight.
The rules were due to take effect Wednesday, and now will be inactive until Sept. 30. The regulations are aimed at setting terms for when companies and other investors are considered in control of a bank, which then exposes them to additional banking rules.
(Reporting by Pete Schroeder; Editing by Chizu Nomiyama)
