FCA Charges Ahead on Climate-Risk Disclosures
As controversy swirls in the U.S., the U.K. continues to mandate climate-risk stress tests and today proposed to refine its climate-risk disclosure regime.

Fed Extends Comment Deadline on Controversial Interchange Rewrite
The FRB today extended the comment period on its controversial proposal to change Regulation II.

Senate Banking: Dems Prioritize Beneficial-Ownership Registry, Bipartisan Support for Anti-China Sanctions
Today’s Senate Banking confirmation hearing for two key Treasury positions – Brian Nelson to be Under Secretary for Terrorism and Financial Crimes and Elizabeth Rosenberg to be Assistant Secretary for Terrorist Financing – featured bipartisan interest in strong sanctions and cryptocurrency controls, as well as Democratic support for implementation of the new AML law.

Waters: Extend Foreclosure Moratorium
In a letter to the heads of HUD, USDA, VA, CFPB, and FHFA, HFSC Chairwoman Waters (D-CA) urged that each extend its moratorium on foreclosures until the CFPB implements its mortgage-servicing rule.  As proposed, that rule would protect mortgage borrowers using forbearance from foreclosure until at least January 1.

SF-Fed President: Climate-Risk Under Review, No Action Imminent
The president of the Federal Reserve Bank of San Francisco, Mary Daly, today detailed the economic and financial impact of climate risk but reiterated that the Federal Reserve is in a watch-and-study phase rather than planning near-term monetary or regulatory policy intervention.

Powell: Digital IDs Key Question for CBDC
In testimony today to the House’s Select Subcommittee on the Coronavirus, Chairman Powell reiterated that inflation will be transitory, while acknowledging that inflation has been larger and may be more persistent than expected.