2026-06-02
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