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.

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