Federal Reserve extends comment period on Regulation O modernization proposal until November 4

The Federal Reserve Board announced that it is extending the comment period on its proposal to modernize Regulation O, which governs a bank's extension of credit to its insiders (bank executives, board members, and major shareholders who could influence lending decisions). The deadline has been moved to November 4, from the original date of October 5, to allow interested parties more time to analyze the issues and prepare comments.