Setting Stage for US Action, UK Regulators Target Bigtech Consumer-Finance Market Power
Focusing principally on competition, the UK’s Financial Conduct Authority (FCA) today released a discussion paper investigating bigtech’s entry into payments, deposit, consumer-credit, and insurance.
With Yellen Backing, SEC Central-Clearing NPR Advances
The Federal Register today includes the SEC’s proposal requiring that market clearinghouses submit certain secondary-market transactions for clearing along with the small percentage now already centrally-cleared.
FDIC Reports Significant Financial Inclusion Progress
Showing significant improvements in financial inclusion, the FDIC today released its biennial under- and unbanked household survey.
CFPB to Require Almost-Open Banking
At long last and as recently promised, the CFPB later this week will start a rulemaking process that would ultimately require financial institutions to share personal data with a consumer upon his or her request.
Democrats Get Ready To Blame The Fed
Continuing progressive critiques of the FOMC’s anti-inflation fight, Senate Banking Chairman Brown (D-OH) has written to FRB Chairman Powell sharply protesting current Fed policy.