Financial Services Forum Commends Chairman Scott for Introducing the Financial Integrity and Regulation Management Act

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Financial Services Forum Commends Chairman Scott for Introducing the Financial Integrity and Regulation Management Act
"This bill will create a more predictable regulatory environment, allowing banks to best serve customers in a safe and sound financial system."

Washington, D.C. - Financial Services Forum President and CEO Kevin Fromer issued the following statement after Republican Senate Banking Committee members, led by Chairman Tim Scott (R-S.C.) introduced legislation to remove reputational risk as a measure used by federal banking agencies to supervise financial institutions:

"We thank Chairman Scott for introducing the Financial Integrity and Regulation Management Act. This bill would provide needed clarity for a more predictable regulatory environment so that banks can best serve their customers in a safe and sound financial system. Any initiative to ground supervision on objective measures of financial and material risk is a step in the right direction."

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The Financial Services Forum is an economic policy and advocacy organization whose members are the eight largest and most diversified financial institutions headquartered in the United States. Forum member institutions are a leading source of lending and investment in the United States and serve millions of consumers, businesses, investors, and communities throughout the country. The Forum promotes policies that support savings and investment, financial inclusion, deep and liquid capital markets, a competitive global marketplace, and a sound financial system.

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