The Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act mandates assessments of technology use by financial.

The Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act requires financial regulatory agencies to assess their technological capabilities and procurement practices. These agencies must evaluate how existing technologies impact their ability to conduct real-time supervisory assessments. They must also assess procurement rules and identify opportunities to streamline these rules. The covered agencies include the Board of Governors of the Federal Reserve System, the Bureau of Consumer Financial Protection, the Federal Deposit Insurance Corporation, and others.

The Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act mandates assessments of technology use by financial.

The Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act requires financial regulatory agencies to assess their technological capabilities and procurement practices. These agencies must evaluate how existing technologies impact their ability to conduct real-time supervisory assessments. They must also assess procurement rules and identify opportunities to streamline these rules. The covered agencies include the Board of Governors of the Federal Reserve System, the Bureau of Consumer Financial Protection, the Federal Deposit Insurance Corporation, and others.