CFPB Small-Business Reporting Reg Remains
In conjunction with his expected veto last night of legislation that would have overturned the CFPB’s small-business reporting rule, President Biden indicated that the Bureau’s rule is central to CRA implementation and would bring transparency to small-business lending.
FSB, IOSCO Try Get-Tough Approach to OEF Illiquidity
As promised, the FSB and IOSCO today finalized recommendations designed to enhance OEF resilience.
HFSC GOP Demands CFPB Nonbank Delay, Clarification
HFSC Chairman McHenry (R-NC) and nineteen Committee Republicans sent a letter to CFPB Director Chopra urging the Bureau to extend by thirty days the comment deadline for its proposal to supervise large nonbank payment providers (see FSM Report PAYMENT27).
FERC Passive-Ownership Inquiry Poses Challenges to Funds, Banks
The Federal Energy Regulatory Commission has opened another avenue scrutinizing the extent to which large asset managers may control the companies in which they invest.
FDIC Approves Significantly Revised Sign, Advertising Standards
The FDIC Board today unanimously approved a final rule modernizing requirements for use of the FDIC’s official sign and clarifying what constitutes misrepresentation and misuse of the FDIC’s name or logo.