![]() Bowman warned that the lack of such regulatory transparency could cause new products and services to migrate to the shadow banking system. She also emphasized that it is “incumbent” upon regulators to provide banks with clear expectations in order to facilitate technological innovations while also ensuring that the banking industry implements change responsibly. Bowman stated that regulators must (i) be aware of the impact regulatory actions have on banks’ ability to innovate and (ii) ensure that regulation and supervision do not create unnecessary burdens on small banks. In an address before the Independent Community Bankers of America, Ms. ![]() Bowman addressed the need for a “transparent regulatory posture” in order to foster innovation in the banking system and address concurrent risk. Federal Reserve Board Governor Michelle W.
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