Weiss Ratings Says Banks Spreading 'Misleading' Information

WASHINGTON, Aug 18, 2024 – A bank ratings organization at the center of a federal broadband funding dispute claimed its reputation has been attacked by banking groups circulating "untruthful or misleading" information about the accuracy and reliability of its work.

In a filing Friday with the Federal Communications Commission, Weiss Ratings said its bank appraisals can be trusted in part because of its long experience in the field and its freedom from the influence of Wall Street business conflicts that helped fuel the 2008 financial crisis.

"It’s largely thanks to the independence and objectivity of its ratings that Weiss has consistently warned the public of nearly all failures well in advance, while also accurately identifying the truly safe institutions that did not subsequently suffer financial difficulties," Weiss Ratings said in the filing sent Saturday to Broadband Breakfast that has not appeared on the FCC's website.