Toomey Attacks Fed Financial Independence
Continuing his strong attack against the Fed’s focus on climate change, Senate Banking Ranking Member Toomey (R-PA) today released a letter to the San Francisco Federal Reserve Bank asking for documents on its ESG-related work. C

State Supervisors Try Again for Vendor Authority
Reps. Williams (R-TX) and Meeks (D-NY) late last week reintroduced legislation to allow state and federal banking regulators to coordinate technology service provider (TSP) examinations.

Boston Fed: Main Street Increased Credit Supply
The Boston Fed today released findings that show that the Main Street Lending Program over which it had authority added “substantially” to the supply of credit to medium-sized borrowers, although its maximum leverage ratio impeded access for many smaller borrowers.

Agencies Begin Work on AI/ML Rules
As anticipated late last week by FDIC Chair McWilliams, the federal banking agencies, CFPB, and NCUA today requested information on AI/ML use.