Yesterday, the Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency released proposals to change the bank supervisory regime. Congressman Blaine Luetkemeyer (MO-03), Chairman of the Financial Institutions and Consumer Credit Subcommittee released the following statement:

“For years I’ve urged federal financial regulators to reassess the current supervisory regime, which is predominantly based on asset size and fails to adequately account for actual risk. It is refreshing to see regulators finally propose a more reasonable and responsible supervisory framework. I’m thankful to Chairman Powell and Vice Chairman Quarles for their leadership on this issue, but there is still more work to be done. We will continue working with the administration on a responsible regulatory environment that supports the American economy.”