US compliance teams face more intrusive Fed supervision

Regional banks look at enhanced data management to handle growing numbers of MRA notices

US Federal Reserve building

Bank compliance officers in the US say they are facing a much tougher supervisory approach from the Federal Reserve, following criticism of the regulator in the wake of Silicon Valley Bank’s collapse in March. In particular, executives say they’ve seen a sharp rise in the number of notices of matters requiring attention (MRAs) issued by supervisors in recent months.

“The days of zero MRAs are over,” said Ali Moghaddam, chief enterprise risk management executive at City National Bank, speaking

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