Warren Warns Fed Chair On 'Misguided' Supervision Proposal

Law360 (February 12, 2020, 7:33 PM EST) -- Sen. Elizabeth Warren is urging the head of the Federal Reserve to put the brakes on any moves to dial back its bank examiners' use of supervisory red flags known as "matters requiring attention," a tool that one top official at the central bank recently called for deploying more sparingly.

In a letter dated Tuesday, the Massachusetts Democrat told Fed Chairman Jerome Powell that MRAs function as an "important early warning system" for flagging compliance issues before they develop into full-fledged legal violations or jeopardize a bank's health.  

Yet under a proposal outlined in a speech last month by Randal...

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