Reported 3 days ago
Federal Reserve Governor Michelle Bowman emphasized the need for improved transparency in bank oversight, arguing that current practices often lead to poor outcomes due to regulatory inaction. Speaking at a community bankers' conference, she pointed out that the supervisory system requires a thorough review to address potential de-prioritization of core financial risks in favor of non-financial ones. Bowman urged regulators to provide timely feedback to banks and proposed the creation of specialized resources to streamline the bank application process.
Source: YAHOO