2026-06-02

Agencies remove additional references to reputation risk

The Federal Reserve, FDIC, and OCC jointly updated interagency documents to remove references to reputation risk. This action prevents supervisors from misusing the concept to restrict financial services based on constitutionally protected beliefs, speech, conduct, or lawful business activities. The revisions ensure supervisory decisions rely on material financial risks while increasing clarity and precision, with further document reviews ongoing.

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Joint Press Release

June 02, 2026

Agencies remove additional references to reputation risk

Board of Governors of the Federal Reserve System

Federal Deposit Insurance Corporation

Office of the Comptroller of the Currency

For release at 11:00 a.m. EDT

The federal bank regulatory agencies today jointly updated certain interagency documents to remove references to reputation risk.

The agencies are taking this action to complement their earlier actions that ended the use of reputation risk in supervision. As the agencies have previously noted, reputation risk can be misused by supervisors as a basis to encourage or pressure a bank to restrict individuals' and legal businesses' access to financial services due to their constitutionally protected political or religious beliefs, speech, or conduct or lawful business activities. These updates help ensure supervisory decisions are based on material financial risks, as well as increase clarity and facilitate greater precision in supervisory decision making. The updates to interagency documents are limited to removing references to reputation risk.

The agencies continue to review their supervisory materials and may update additional documents as appropriate.

Media Contacts:

Federal Reserve Board

Meg Badenhorst

202-452-2955

FDIC

Brian Sullivan

202-898-6534

OCC

Stephanie Collins

202-649-6870

Last Update: June 02, 2026