WASHINGTON—The U.S. Federal Reserve unveiled a proposal on Oct. 31 that would ease regulations for banks with less than $700 billion in assets, as the central bank looks to tailor rules in line with banks’ risk profiles.
PNC Financial Corp., Capital One Financial Corp., Charles Schwab, and U.S. Bancorp would enjoy reduced liquidity and compliance requirements under the proposal, which the Fed board approved on Oct. 31. Several smaller banks would see further reduced regulation as the Fed implements changes ordered in a bank deregulation law Congress passed in May.
