🚨NEW: The Fed says it’s scrapping “reputational risk” as a factor in how it supervises banks. In a memo released today, the central bank says it will remove the term (which lawmakers credit with playing a major role in the debanking of crypto firms and other businesses) from exam manuals & train examiners to focus on specific financial risks instead. It Fed is the last of the major banking regulators to get rid of the term.