More than 40 percent of major U.S. lenders are failing to satisfy the Federal Reserve’s expectations in key areas of risk management, the central bank said Friday in a report that reveals the regulator’s overall assessment of the industry. The Fed’s inaugural Supervision and Regulation Report highlights a number of positives -- including high capital and liquidity reserves -- but it also shows how risks may now come from mismanagement, cyber attacks and failures to protect the banking system. Those faults are contributing to so many firms failing to make the top two of the five categories -- “strong” or ... (full story)