October 07, 2020

Reuters: Senator Warren asks big U.S. banks for details on pandemic performance

WASHINGTON (Reuters) - U.S. Senator Elizabeth Warren is asking large U.S. banks to disclose how they performed under a recent Federal Reserve exam of their finances during the coronavirus pandemic.

In a letter sent to 14 large firms Wednesday, Warren asked each to provide its results from a confidential Fed test, arguing the central bank’s “limited transparency” on whether banks could weather a severe economic downturn is insufficient.

“The safety and soundness of the banking sector cannot be taken for granted, and the American people deserve full transparency regarding the health of the financial system,” the Democratic senator wrote in a letter seen by Reuters.


Read the full article on Reuters here.

By:  Pete Schroeder
Source: Reuters