Getting your player ready...
WASHINGTON — Federal regulators have taken a first step toward eliminating the use of credit ratings in rules for banks, under a mandate of the new financial-overhaul law. The head of the Federal Deposit Insurance Corp. said Tuesday it won’t be easy to come up with a replacement.
The FDIC board voted to take public comment for 60 days on alternatives to relying on credit-rating agencies to assess the risk of investments.
