FSB Considers Stability Impact, Action on Zombie Companies
The FSB has launched one of its “thematic peer reviews” of corporate debt workouts, seeking stakeholder feedback on practices, experiences, and lessons from private corporate-debt workouts and implications for financial stability.

Democrats Demand Greater Racial-Equity Commitment
At today’s Diversity and Inclusion Subcommittee hearing focused on the financial services industry’s commitments to economic and racial justice, Chairwoman Beatty (D-OH) stressed that, while corporate financial pledges are a step forward, tangible and transparent action is required.

Climate-Risk Hearing to Advance Stress-Test, Capital Requirements
HFSC’s Subcommittee on Consumer Protections and Financial Institutions will meet tomorrow to consider climate risks’ systemic risk, weighing bills to mandate new supervisory, stress-testing, and capital standards.

FHFA Plugs Foreclosure-Protection Gap
Following the finalization of the CFPB’s COVID mortgage servicing proposal yesterday, FHFA today announced that GSE servicers will not be permitted to make a first notice or filing for foreclosure that would be prohibited under the rule prior to its August 31 effective date.

HFSC Oversight Launches Crypto Work with Fact-Finding Session
The committee memo for HFSC’s Oversight and Investigations Subcommittee hearing tomorrow indicates it is clearly a preliminary session in which Members will learn more about a topic that gives the subcommittee chairman, Rep. Green (D-TX), considerable pause.

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