The Federal Deposit Insurance Corporation has published a proposal to codify in regulation its earlier decision to stop treating “reputation risk” as a standalone factor in bank supervision, positioning traditional risk channels such as credit, liquidity, and market risk as the relevant safety and soundness lenses. The proposal would prohibit the FDIC from criticizing or taking adverse action against a supervised institution on the basis of reputation risk, and would also bar the agency from requiring, instructing, or encouraging an institution to close accounts or refrain from providing services based on political, social, cultural, or religious views. It would not impose new requirements or obligations on supervised institutions. In parallel, references to reputation risk are being removed from FDIC guidance, policy documents, and examination manuals, and the agency expects to work with other federal banking agencies to remove references from interagency materials. The FDIC is inviting comments on the proposal.