Start of a new compliance era?

Bloomberg News reports this morning that Treasury is now demanding that TARP banks begin monthly reports on lending activity. Citi, BofA, et. al. will have to begin to report on monthly business and consumer loan statistics. Coinciding with Obama's inauguration, this appears to be the beginning of the much anticipated new era of accountability for the country's biggest banks. How are banks ultimately going to deal with new compliance demands? Ultimately they will need to hire people experienced in Fed Reporting. At GlobalRiskJobs we are already seeing consultants gearing up in these advisory areas and banks are not far behind. While there may be some delay in major new reporting requirements being handed down due simply to the logistics of the government changeover, this appears to be the first shot being fired and will set the tone for a new administration and regulatory regime.