The four banking and thrift agencies jointly examined 65 interagency regulations over the last two years and decided to scrap or simplify 70% of them, according to a report released Tuesday.

The regulators' effort was prompted by the Riegle Community Development and Regulatory Improvement Act of 1994, which asked the agencies to review their rules, discard outmoded ones, and make the rest more uniform and user-friendly.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.