FDIC Gets an Earful From State Supervisors (and Banks) on Plan for Board Governance

Also, Citadel Securities and regional broker group argue CAT is an end-around Congress that will saddle brokers with billions of dollars in costs

With all the focus on Basel endgame, it’s been easy to overlook the FDIC’s seemingly bland proposal to boost governance standards for bank boards. But with the comment deadline closing last week, it’s become clear that the effort has provoked a major backlash – and not just from the industry. One somewhat surprising opponent: the state regulators who sh…