The Senate Banking Committee advances the Financial Integrity and Regulatory Management Act.

The Senate Banking Committee on Thursday voted 13-11 to advance the Financial Integrity and Regulation Management Act, which would prohibit federal regulators from using reputational risk as an assessment factor in financial regulation. In addition, the committee made a series of amendments to the bill, including a manager's program to adjust regulatory approaches to ensure that banks' supervision is appropriate to their risk profiles and business models.