Hsu, Gruenberg Skirt CRA Legal Battle
The CRA-related remarks today from Acting Comptroller Hsu and Chair Gruenberg were considerably more muted than those yesterday from Vice Chair Barr, although Mr. Gruenberg expressly defends the new rule despite the pending legal challenge.
FRB-NY: Life, P&C Insurance Poses Climate Risk to Financial Markets
The Federal Reserve Bank of New York yesterday posted a brief focusing on financial-market risk due to climate change, concluding that there is some of potentially systemic magnitude. This finding is based on a nine-month-old staff report focusing specifically on the insurance sector.
FDIC Presses Banks to do More in LMI Communities
Previewed in remarks by Chair Gruenberg this morning, the FDIC today released its economic inclusion strategic plan calling on banks to invest in LMI and underbanked communities.