Regulatory relief legislation, which stands a good chance of passage, would reduce lending disclosures, ease community reinvestment standards, and lessen the industry's supervisory burden.

The plans, detailed below, could go a long way toward curbing the industry's rising compliance costs. Last year, according to the Federal Deposit Insurance Corp., banks spent more than $1 billion on compliance. That compares with total net income of $12.6 billion.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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