FRB-NY: CBDC Best to Ensure Consumer Privacy
In a new blog post, the Federal Reserve Bank of New York explores the extent to which private digital payment services infringe on personal privacy, recommending a move to CBDC due to its privacy-preserving attributes – or so the paper’s models conclude.

Fed Continues Regular Facility Updates Pending Shutdown
The Fed today released its monthly update on its Section 13(3) facilities, making no mention of the recent decision to terminate some facilities relying on CARES Act funding.

OCC Adds CRA-Rule Details
Building out its controversial CRA rule (see Client Report CRA28), the OCC today proposed performance benchmarks, lending-distribution test thresholds, and community-development minimum criteria. The proposal also lays out how the OCC would evaluate significant CRA-performance declines to determine if sanctioning a bank is warranted.

Senate Dems Lay Groundwork for Risk-Based Pricing Assault
Ranking Member Brown (D-OH) and five Senate Banking Democrats today reiterated longstanding calls to FHFA to make it easier for lower-income and minority borrowers to obtain a mortgage.