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ABA-Bowman: Transparency Around Supervisory Expectations Must Improve.

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ENPNewswire-September 29, 2021--ABA-Bowman: Transparency Around Supervisory Expectations Must Improve

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Release date- 28092021 - Federal Reserve Governor Michelle Bowman said in a speech today that the as the Fed adapts its supervisory principles for the future, it must enhance transparency around supervisory expectations for safety and soundness and consumer compliance matters.

'I believe supervision works best when supervisors clearly communicate their expectations with banks-there shouldn't be any 'surprises' about our expectations during an exam. In my calls with bankers, I'm reminded that one of the biggest sources of regulatory burden is regulatory and supervisory uncertainty,' Bowman said during a community banking conference hosted by the Fed, the Conference of State Bank Supervisors and the FDIC.

Bowman added that uncertainty for banks can be reduced by clearly communicating expectations, by engaging the industry directly to understand the impact of these expectations and 'when appropriate' by...

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