WASHINGTON -- Come Nov. 7 banks will no longer have to alert the Federal Deposit insurance Corp. of plans to grow more than 7.5% from one quarter to the next.

In the name of snipping red tape, the FDIC decided last month to drop its so-called rapid growth rule.

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.