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Wednesday, October 4, 2017

Yellen agrees to reduce financial regulation for US local banking

US Federal Reserve Chairman Janet Yellen said Monday that the central bank is trying to reduce the regulation of local banks so it is not "overly annoying" and is adequate to the size and complexity of the entities.

"For local banks, which largely avoided the risky business practices that contributed to the financial crisis, we have focused on making sure the much-needed regulatory and supervisory improvements are appropriate and not overly annoying," said Yellen at the annual community banking conference in San Luis (Missouri).

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