HFSC Dems Lay Out CFPB Data-Ownership Priorities
Ahead of the HFSC FinTech Task Force consumer-data hearing tomorrow, majority staff’s memo indicates the session is only an update on recent developments such as President Biden’s Executive Order (see Client Report MERGER6) urging the CFPB to expedite its consumer-data ownership ANPR (see FSM Report DATA).
Gensler Stands by SOFR
SEC Chairman Gary Gensler today reiterated that he has and will raise objections to LIBOR alternatives that fail to meet his standards for market liquidity and rate-setter objectivity.