The Federal Reserve announced a plan: the "reputational risk" assessment will be removed from bank reviews
After U.S. President Trump took action to curb the improper closure of customer accounts, the Federal Reserve announced a new proposal aimed at changing the way examiners assess bank risks.
The new plan will explicitly prohibit examiners from "punishing or banning" banks for providing services to customers engaged in legitimate activities, requiring that examinations prioritize substantial risks that threaten the "safety and soundness" of banks
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