Contact: Laura Peavey
(202) 457-8770
lpeavey@fsforum.com
Forum Statement on Federal Reserve’s Removal of Reputation Risk
Washington, D.C. – Financial Services Forum President and CEO Kevin Fromer issued the following statement after the Federal Reserve Board announced it will no longer consider reputation risk in its supervision of banks:
“Today’s announcement by the Federal Reserve is another important step toward focusing bank supervision on material financial risk. This, taken with the action by other financial regulators, will help to foster a more transparent and effective supervisory framework. We look forward to continuing to work with the Administration and Congress to identify solutions that allow America’s leading banks to continue to best serve their customers.”
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The Financial Services Forum is an economic policy and advocacy organization whose members are the eight largest and most diversified financial institutions headquartered in the United States. Forum member institutions are a leading source of lending and investment in the United States and serve millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system.
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