That is why the Board periodically reviews its own regulations and why it is so important for Congress to periodically review the federal banking laws to determine whether there are any provisions that may be streamlined or eliminated without compromising the safety and soundness of banking organizations, consumer protections, or other important objectives that Congress has established for the financial system.
The Board, working with the other banking agencies, has been, and will continue to be, a strong and active supporter of Congress' regulatory relief efforts. In 2003, the Board provided this Committee with a number of legislative proposals for inclusion in a regulatory relief bill.