In a speech delivered last week, Michelle Bowman, a Governor on the US Federal Reserve Board, argued that public debates about whether regulations are "hard enough" on banks misinterpret the dynamics of how regulators and banks should operate.
"[B]ank regulation and supervision need not be an adversarial system, with banks and regulators acting in opposition," Bowman said. “Rather, banks and regulators often have the shared goal of a banking system that is safe, sound, and effective, with each serving an important role in furthering these objectives.”
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