The Shadow Financial Regulatory Committee is recommending Congress strip the Federal Reserve Board of its role as supervisor of bank holding companies.

Oversight responsibility instead should be split between the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. said the panel, made up of 13 banking experts who review federal policy, at its yearend meeting this week.

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.