The Federal Reserve's new top regulatory official on Friday laid out an ambitious agenda for revisiting and easing numerous bank rules and oversight policies which she argued have become onerous and unnecessary.

The Federal Reserve’s new top banking cop Michelle Bowman said Friday she wants to revisit bank regulations made in the wake of the 2008 financial crisis so that risk is “effectively managed” and lenders can fail without hurting the economy.

Michelle Bowman, the Federal Reserve’s incoming vice chair for supervision, says the central bank will soon address the “odd mismatch” between the confidential ratings of big banks and the lenders’ financial conditions.