Budget seeks big jump in regulatory staffs

Pres Bill Clinton's proposed FY 1994 budget calls for increased numbers of bank regulators, less involvement by banks in student loans and the establishment of a community development bank network. With the exception of the Office of Thrift Supervision, all bank regulatory agencies will expand their staffs, some by as much as 19.5%. A pilot program of direct student loans will receive $514 million in 1994, with the goal of phasing out the current guaranteed student loan program by 1997. Finally, $45 million will go to supplement and assist community development banks.
WASHINGTON - President Clinton's budget foresees growth in the bank regulatory agencies, a shrinking role for banks in higher education loans, and creation of the much-discussed network of community development [...]