Economy
Federal Reserve Extends Comment Deadline on Proposed Insider-Lending Overhaul
The Federal Reserve extended the comment period for its proposal to modernize Regulation O until November 4.
What happened
The Federal Reserve Board extended the deadline for comments on proposed changes to Regulation O, which governs bank credit to insiders such as executives, directors and major shareholders. Comments were originally due October 5. The extension gives interested parties additional time to analyze the proposal and prepare submissions, with the new deadline set for November 4.
Why it matters
Banks and other interested parties now have an additional month to assess the proposed insider-lending rules and submit their views before the process advances.
Source: U.S. Federal Reserve