Federal Reserve Board requests comment on a proposal to modernize its rule governing the extension of credit to bank "insiders"—bank executives, board members and major shareholders who could potentially influence a bank's lending decisions

The Federal Reserve is proposing to modernize its rule on how banks extend credit to insiders—executives, board members, and major shareholders. Per Federal Reserve Press Releases, the update targets these arrangements because such individuals could potentially influence lending decisions. The Fed is now accepting public comment on the proposal.

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