Economy

A big regional bank is set to be freed from Fed oversight

By Joseph Lawler
Published July 18, 2018 1:43pm ET
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A big regional bank is set to be freed from Fed oversight
Treasury Secretary Steve Mnuchin said that big businesses would be excluded from President Trump's planned low special business tax rate. (AP Photo/Alex Brandon) | Alex Brandon

Zions, a Salt Lake City-based regional bank, is set to be freed from oversight by the Federal Reserve, thanks to a decision announced Wednesday by federal regulators.

The Financial Stability Oversight Council, the supergroup of regulators created by the 2010 Dodd-Frank law, announced that it had voted unanimously to allow Zions to avoid Fed scrutiny after it reorganizes its business structure.

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Tag:

Federal Reserve Finance Regulations Steven Mnuchin Treasury Department Utah