Chopra’s Call for FDIC Insurance Revocation Gains Strength

Although Republican Members of Congress last week sharply criticized Rohit Chopra’s suggestion that FDIC coverage be denied banks that violate consumer-protection standards, the proposal has picked up support among at least some Democratic state legislators.

FDIC Advertising Rule Sets New Course for CFPB Fintech Enforcement

The FDIC today finalized its proposal (see FSM Report DEPOSITINSURANCE112) to increase the penalties when advertising or other actions mislead consumers as to the extent to which FDIC insurance covers deposits or deposit-like placements.

SEC Turns to Systemic Standards

In remarks today, SEC Chairman Gensler expanded his campaign against market concentration related to payment-for-order flow to a broader set of systemic-risk concerns due to increased concentration of key securities-market infrastructure activities in a small number of very large firms.

Hsu Sounds Alarm re Risk Concentrations, Consumer Fragility

In remarks today, SEC Chairman Gensler expanded his campaign against market concentration related to payment-for-order flow to a broader set of systemic-risk concerns due to increased concentration of key securities-market infrastructure activities in a small number of very large firms.

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