Securities Law News

Fed’s Bowman Defends Big Bank Rule Changes As ‘Targeted’ (1)

June 5, 2019, 3:49 PMUpdated: June 5, 2019, 4:21 PM

Federal Reserve Governor Michelle Bowman defended the central bank’s moves to change stress testing rules and other regulations for large banks.

Bowman took issue with a characterization from Sen. Sherrod Brown (D-Ohio) that the Fed has been easing back on rules for the biggest banks and allowing risks that led to the 2008 financial crisis to creep back into the financial system.

“I would say that we’ve targeted the requirements more to the risk of the banks as they pose them,” Bowman said June 5 at a nomination hearing held by the Senate Banking Committee.

Bowman, who was confirmed in...

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