Readout of President Biden’s Meeting with Lead Financial Regulators
Today, the President met with top financial regulators to discuss how to build on the rapid economic turnaround since his inauguration and ensure there is sustainable and equitable growth that benefits every American family. The regulators reported that the financial system is in strong condition. They further indicated that financial risks are being mitigated by robust capital and liquidity levels in the banking system, and healthy household balance sheets stemming from fiscal support and the ongoing economic recovery. The regulators also said they were making steady progress on the President’s executive order on climate-related risk and discussed ideas for promoting financial inclusion and for responsibly increasing access to credit for potential homeowners and small businesses.