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Inside Washington (04/21/2011)
* WASHINGTON (4/22/11)--The Senate Banking Committee announced a series of staff changes--both new hirings as well as promotions. Drew Samuelson, who has served for 24 years as chief of staff for Sen. Tim Johnson (D-S.D.), who heads the banking panel, is now senior adviser. Charles Yi will serve as chief counsel and deputy staff director--returning to Capitol Hill after a stint at the U.S. Treasury Department (American Banker April 21). Other staff changes include: Marc Jarsulic, who returns to the committee as chief economist; Laura Swanson, who has worked in Johnson’s office since 2005, has been appointed the committee's new policy director; Jeff Siegel joins the committee as senior counsel; Erin Barry as a professional staff member for housing issues; Glen Sears as a senior policy adviser for oversight efforts; Catherine Galicia as senior counsel on consumer protection issues; and Lynsey Graham as senior counsel ... * WASHINGTON (4/22/11)--U.S. Treasury Department Deputy Secretary Neal Wolin followed up his recent defense of the pace of Dodd-Frank Act implementation by again addressing attacks against the financial reform measures in a recent blog post. Wolin in his post said that the lawmakers that drafted Dodd-Frank “took great care to protect and strengthen” small financial institutions, “helping to ensure that we avoid the concentration that exists in the banking sectors of so many other countries which are dominated by just a handful of very large institutions" (American Banker April 21). Wolin particularly emphasized the role that reduced assessments and higher deposit insurance protection can have in helping smaller institutions. Increased prudential standards and stronger nonbank oversight will also reduce some competitive advantages that the current system gives to larger institutions, Wolin said … * WASHINGTON (4/22/11)--The Federal Deposit Insurance Corp. Thursday sent a letter to its insured banks regarding the agency’s proposal to repeal a statutory prohibition that has banned the payment of interest on demand deposits. The repeal was ordered by the Dodd-Frank Wall Street Reform Act and, like many of provisions of that law, is effective July 21. The agency’s communication reminded interested parties that they have until May 16 to comment …


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