Fed Unveils Fresh Guidance in Bid to Boost Bank Innovation

Fed Unveils Fresh Guidance in Bid to Boost Bank Innovation

Federal Reserve Withdraws 2023 Bank Innovation Policy

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Fed Invites Bank Innovation in New Guidance

The Federal Reserve Board said Wednesday (Dec. 17) that it withdrew a 2023 policy statement and issued a new statement regarding the treatment of certain banks, with the aim of facilitating “responsible innovation.” The 2023 policy statement allowed board-supervised state member banks to participate only in activities permissible for banks supervised by other federal bank regulators, according to a Wednesday press release. The statemen…

Fed’s New Policy Statement Sparks Innovation in Banking Sector

The Federal Reserve Board’s recent decision to withdraw its 2023 policy statement and issue a new one is a significant development that could reshape the landscape for Board-supervised banks and the broader U.S. economy. The new policy statement, which facilitates responsible innovation, is a response to the evolving financial system and the Fed’s deepening understanding of innovative products and… Source