Bair: Finding alternative to raters 'challenging'
August 10, 2010 at 13:23 PM EDT
Fulfilling a statutory mandate to eliminate the use of credit ratings in banking regulation poses a “challenging” job for regulators, says Sheila Bair of the Federal Deposit Insurance Corp. As it gets down to work with coming up with ways to comply with the Dodd-Frank Act's requirements, the agency sets up two new oversight entities.