The Banking Act and Security
Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Director of the Office of Thrift Supervision—to develop, implement and oversee the set of minimum security standards that the banks and savings and loans they regulated would have to have in order to be allowed to conduct business. Each agency essentially developed and appointed the same set of standards. The Act also obliges the agencies to direct the management of the banks so that they are more secure and in compliance with appropriate security recommendations and guidelines. The Comptroller of… Continue Reading...