FDIC: Troubled-Bank Acquisitions by PEs Supported Stability, Reduced Resolution Costs
A new FDIC working paper concludes that private equity had a positive impact on financial stability in the wake of the great financial crisis by facilitating acquisitions of distressed banks and improving resilience.

Democrats Target Housing Discrimination, CRA Expansion
Sen. Warren (D-MA) and fifteen House and Senate Democratic legislators today reintroduced legislation targeting housing discrimination, paid for via an increase in estate taxes. The bill also expands CRA to cover nonbank mortgage companies and targets down payment assistance to first-time homebuyers living in historically segregated areas.

Rebuffing Democrats, OCC Approves Crypto Charter
Despite strong Democratic criticism of new crypto charters, the OCC today granted preliminary conditional approval for a special purpose charter to Paxos Trust Company, a cryptocurrency brokerage.

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