The Federal Reserve Board on Wednesday withdrew a 2023 policy statement and issued a new policy statement regarding the treatment of certain Board-supervised banks that facilitates responsible innovation. "New technologies offer efficiencies to banks and improved products and services to bank customers," said Vice Chair for Supervision Michelle W. Bowman. "By creating a pathway for responsible, innovative products and services, the Board is helping ensure that the banking sector remains safe and sound while also modern, efficient, and effective." In 2023, the Board issued a policy statement that limited ... (full story)