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The Legal Book

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Aug 26, 2009

FDIC Heeds Am Law Firms, Loosens Private Equity Regulations for Failed Bank Deals

The Am Law world got to flex its muscles Wednesday when the Federal Deposit Insurance Corporation backed off of stringent proposed rules that would have governed private equity investment in failed banks. Am Law’s biggest names had submitted letter after letter urging the FDIC to back off the regulations and arguing that the proposed rules discriminated against private equity firms by setting higher standards for them than for other types of investors.

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