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via thefintechtimes.comPolitics

AFC Backs FFIEC CAMELS Overhaul with Push for Materiality-Led Review

FROM THE WIRE · THEFINTECHTIMES.COM

The American Fintech Council has urged the FFIEC to adopt a materiality-based approach in the first CAMELS framework revision in nearly 30 years.

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralThe proposed reform of banking supervision framework could affect regulatory requirements for banks and fintech companies.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01The American Fintech Council urges FFIEC to adopt a materiality-based approach.
  2. 02This would be the first CAMELS framework revision in nearly 30 years.
  3. 03The reform could simplify criteria for assessing banking soundness.

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