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The U.S. Senate Banking Committee Advances the "Financial Transparency and Regulatory Compliance Act"

2025.03.14 02:24:20

On March 14th, the U.S. Senate Banking Committee advanced the "Financial Integrity and Regulation Management Act" by a 13 - 11 vote this Thursday. This act will disallow federal regulatory agencies from employing "reputational risk" as an assessment element in financial regulation. Furthermore, the committee made a series of amendments to the act, such as adjusting regulatory approaches through "management schemes" to guarantee that bank regulation is "tailored" according to their risk profile and business model.
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