Overdraft Hearing Sure to Raise Fee, Inclusion Concerns
Although the HFSC memo on tomorrow’s overdraft hearing tees up legislation for possible action, we expect the Consumer Protection Subcommittee hearing to be a rhetorical exercise pressuring banks which still charge what Democrats, as well as Acting Comptroller Hsu and CFPB director Chopra, view as punitive fees.
FDIC Joins Campaign for Climate-Risk Management Standards
The FDIC today issued a request for comment on climate-risk management similar in many respects to the OCC’s outstanding release (see FSM Report GREEN12).
Senators Urge Treasury, SEC to Close Private Investment Sanctions Gap
Sens. Warren (D-MA) and Whitehouse (D-RI) today asked in a letter to Treasury and the SEC to accelerate closing the AML/CFT gap posed by private investment firms.
CFPB Revs Up Democratic Overdraft Anger
Ahead of tomorrow’s overdraft hearing, the CFPB today put out a strong blog post saying that, while some banks have properly addressed consumer risk, many have yet to do so.
Senate Dems Demand More Small-Business Lending
Senate Banking Committee Chairman Brown (D-OH), Majority Whip Durbin (D-IL), and eight other Democrats today wrote to all the banking agencies demanding that they do something to ensure that banks lend more to small businesses.