FSB Suspends G-SII Designations but Advances Resolution Methodology
Building on its 2011 resolution “attributes” (see FSM Report RESOLVE8) and on an insurance-specific set issued in 2014 (see FSM Report INSURANCE43), the FSB today issued a methodology designed to enhance the resolvability of systemic or infrastructure-critical insurance groups.
CFPB Opens Credit-Card Lending to a World of Change
The CFPB today released a request for information (RFI) on credit-card lending since the 2009 CARD Act (see Client Report CREDITCARD34), doing so under the auspices of regulatory-relief law mandating periodic review to ensure that small entities are not unduly harmed by implementing rules.
Senate Dems: Financial Rules Must Recognize, Reduce Climate Risk
The Senate Democratic Special Committee on the Climate Crisis today released a wide-ranging report on building a “clean” economy, making several recommendations for federal financial regulators.
FHFA Concedes, Refi Fee Delayed
Following widespread criticism from industry, Congress, and the White House, FHFA today directed the GSEs to delay their refi fee until December 1. As noted, we expected a delay to be the most likely compromise. Senate Banking Chairman Crapo (R-ID) previously pressed FHFA on why the fee was taking effect so soon, as did Senate Dems.