Three women walk into a large carpeted office with their sweaters, coffee and reading glasses. Each woman is carrying under her arm a copy of The Book: The Dodd-Frank Wall Street Reform and Consumer Protection Act.
They spread themselves out at the table, offer me coffee, laugh generously at my bad jokes. It feels like we're all sitting down for the weekly Bank Regulators' Book Club. The members of the club — Roberta McInerney, Kymberly Copa and Ruth Amberg — are senior regulators at the FDIC, and their job is to make The Book come to life.
The Book — the big finance-overhaul bill Congress passed last year — calls for lots of changes in the financial system. But it only provides a general outline. All the key details have to be hammered out by people like Roberta, Kimberly and Ruth.
The FDIC is responsible for writing 44 new banking rules. As Roberta shows me her multi-colored tabs referring to key sections, Kymberly Copa nods and holds up an incredibly tattered copy of The Book.
The FDIC is responsible for writing 44 new banking rules.
