US bank regulators to tout deregulatory agenda to lawmakers
Key takeaways
- US bank regulators to tout deregulatory agenda to lawmakers U.S.
- Bowman and her fellow regulators have been busy re-examining tougher standards put in place in recent years, arguing that overly punitive oversight has hindered banks ability to support the economy.
- "For over a year, we have been reforming supervision to focus on material financial risks rather than on process-oriented, check-the-box requirements," said FDIC Chairman Travis Hill in his prepared remarks.
US bank regulators to tout deregulatory agenda to lawmakers U.S. Federal Reserve Vice Chair for Supervision Michelle Bowman testifies before a House Financial Services Committee hearing on oversight of prudential regulators, in Washington, D.C., U.S., June 4, 2026. REUTERS/Kylie Cooper · Reuters By Pete Schroeder Thu, June 4, 2026 at 10:49 PM GMT+7 2 min read By Pete Schroeder
WASHINGTON, June 4 (Reuters) - The nation s top bank regulators plan to tell Congress on Thursday that their efforts to trim bank rules and oversight will bolster economic activity and innovation without injecting undue risk into the financial system.
The regulatory chiefs of the Federal Reserve, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency are set to testify before the House Financial Services Committee, where they will update lawmakers on a comprehensive effort to reconsider and soften numerous bank rules put in place following the 2008 financial crisis.