Fed's Incoming Banking Regulator Bowman Seeks Review of Confidential Ratings After Two-Thirds of Large Banks Rated Unsatisfactory

Michelle Bowman, the Federal Reserve's incoming Vice Chair of Supervision and top banking regulator, is seeking to review the confidential ratings that assess the health of the nation's largest banks. According to reports from the Wall Street Journal, many of these banks received poor or unsatisfactory ratings last year, with approximately two-thirds of the biggest institutions deemed unsatisfactory. This move follows Bowman's criticism of the previous assessments and indicates a potential review or overhaul of the Federal Reserve's bank supervisory framework. Separately, FHFA Director Bill Pulte disclosed that he has signed over 80 orders to revamp policies at mortgage giants, though only 12 of these orders have been made public.