Fed’s Miran endorses community bank regulatory relief

Federal Reserve Governor Stephen Miran said the Fed’s regulatory framework should allow community banks to remain the engines of their local economies, adding that he would support proposals to grant additional relief aimed at community banks. 

Details: Speaking in Washington, D.C., Miran noted that “the costs and benefits of a regulation on a community bank are rarely comparable to those of the same regulation on a systemically important bank but heavily impact the credit available to Main Street businesses, where local knowledge is critical.”