In response to critics who wish to strip some regulatory demands out of the 2010 Dodd-Frank Act, the Federal Reserve Board is offering to tweak corporate governance rules to ease the oversight burden on boards of directors at large U.S. banks.
Jerome Powell, a governor on the Federal Reserve Board in Washington, D.C., discussed details of the governance changes in a speech Wednesday morning in Chicago. In remarks prepared for delivery, Powell began by outlining key corporate governance requirements imposed after the financial crisis of 2008.
