President Donald Trump’s financial regulators are pushing through the most sweeping overhaul of U.S. bank supervision since the 2008 global financial crisis, reshaping how examiners monitor lenders and redefining what regulators consider a meaningful risk to the banking system, Reuters reported.
Officials at the Federal Reserve, the Office of the Comptroller of the Currency (OCC), and the Federal Deposit Insurance Corporation (FDIC) argue that bank supervision has become overly focused on paperwork, procedural deficiencies, and minor operational issues rather than core financial threats that could undermine a bank’s safety and stability.
