U.S. Treasury Secretary Calls for Fair Regulation of Banks and Community Banking Support

U.S. Treasury Secretary Janet Yellen emphasized a need for fair regulation and support for community banks as she seeks to shift the focus away from Wall Street’s dominance in the financial landscape. In a statement, Yellen advocated for tailored regulation, ensuring equal application across various entities while promoting transparency and consistency. She outlined her strategy for change by improving regulatory review processes, enhancing compliance oversight, and establishing more accessible avenues for addressing regulatory outcomes. Yellen also highlighted the importance of using objective risk-based measures to define ‘unsafe and unsound’ practices.