Some members of Congress, are concerned that the supervisors are making corrupt judgments and failing to enforce policies, because they’re too connected to the banking system.
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The Federal Reserve has unexpectedly announced it’s reviewing its oversight and regulation of Wall Street, to make sure bank supervisors are considering the right information when making judgments and new rules.
The Fed’s Inspector General will head up the review, and is tasked with figuring out whether supervisors are using the right methods to gather all the relevant information, and whether they consider dissenting views from staff. The goal is to make sure examinations of big banks are “consistent, sound, and supported by all relevant information,” the Fed said in a press release.