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Financial Services Forum Commends Introduction of the Bipartisan Financial Integrity and Regulation Management Act
“This bill provides much-needed clarity for a more predictable regulatory framework, allowing banks to better serve their customers while maintaining a safe and sound financial system.”
Washington, D.C. – Financial Services Forum President and CEO Kevin Fromer issued the following statement after Congressmen Andy Barr (R-K.Y.) and Ritchie Torres (D-N.Y.) introduced bipartisan legislation to remove reputational risk as a measure used by federal banking agencies to supervise financial institutions:
“We thank Congressmen Barr and Torres for introducing the Financial Integrity and Regulation Management Act. This bill provides much-needed clarity for a more predictable regulatory framework, allowing banks to better serve their customers while maintaining a safe and sound financial system. Anchoring supervision in objective financial and material risk measures is a vital move in the right direction.”
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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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