Policy and regulatory efforts are designed and directed toward allowing more of our countrymen effective access to a wide range of financial services, equipping them with know-how to appreciate which financial service suits them best, and creating an environment where they are essentially protected from unscrupulous elements.
And these firms are required to report higher quality data to supervisors. The Federal Reserve now utilizes these data as well as other information it receives to conduct more in-depth and timely assessments of emerging risks.