10 08, 2022


2022-08-10T17:02:52-04:00August 10th, 2022|2- Daily Briefing|

Penalizes Fintech for Taking Consumer Funds Instead of Encouraging Savings

Striking at the heart of the purported financial-inclusion benefits of fintech, the CFPB today took action against Hello Digit under both its UDAAP powers (see FSM Report CONSUMER39) and its more recent stand on AI (see FSM Report FAIRLEND11).

Sen Dems Demand More re Rental Housing, Short-Term Loans in CRA Standards

Yesterday’s HFSC CRA comment letter has been followed by one from Chairman Brown (D-OH) and eighteen Democrats.

Senate Banking GOP Ramps Up Fed Demands

Following Sen. Toomey’s (R-PA) diatribe last week, Senate Banking Republicans have followed through with direct demands for greater Fed transparency and recognition of the central bank’s duties to the Congress.

Waters Demands Bureau Halt Equifax Scoring Until Erroneous-Data Problems Revealed, Remediated

HFSC Chairwoman Waters today sent a letter to the CFPB calling on the Bureau to use all of its powers to ensure remediation for consumers harmed by Equifax’s alleged credit-reporting error, as well as institute greater protections for consumers in the “broken” credit-reporting system.

CFPB Sweeps Up Bigtech in Scope of Consumer-Protection Standards

Building on its inquiry into bigtech and a controversial interpretive rule expanding its power to nonbanks (see FSM Report CONSUMER41), the CFPB today issued an expansive interpretive rule subjecting digital companies using behavioral or similar data to market consumer-finance products to the full thrust of federal consumer law.

Progresses Press Hsu on Crypto Authorizations

Sens. Warren (D-MA), Durbin (D-IL), Whitehouse (D-RI), and Sanders (D-VT) …

9 08, 2022


2022-08-09T17:05:06-04:00August 9th, 2022|2- Daily Briefing|

Dems Demand Tougher CRA Standards

HFSC Chairwoman Waters (D-CA) today released the comment letter she and 76 Democrats filed on the CRA proposal (see FSM Report CRA32).  As anticipated, it strongly supports community-group comments on issues such as the need for express CRA recognition of a bank’s demographic record.  The letter also supports the proposed, tougher approach to scoring, although it argues that it should be made still more stringent via component scores that emphasize LMI and community-of-color performance largely on a facilities-based methodology.

BoE Staff: Regulators Must Tackle Cryptoassets Before They Pose Systemic Risks

Echoing concerns now troubling the Financial Stability Board, a new article from the Bank of England concludes that growth of an open and decentralized metaverse could augment existing cryptoasset risks and trigger systemic financial stability consequences.  The article first describes volatility, hacking risks inherent to oracles and smart contracts, transaction front-running and potential negative effects on market confidence, and leverage.  More cryptoasset use and interconnectedness – especially for household investments, payment, and bank and non-bank financial institutions – might exacerbate existing risks via new vulnerabilities to macroeconomic shocks, balance-sheet losses, fire-sales, and declines in bank profitability.


9 08, 2022

How do I restart the keyboard mouse driver without restarting the PC?

2022-08-11T06:20:41-04:00August 9th, 2022|Drivers|

File extensions can be made visible in the File Explorer by clicking the View menu, followed by clicking Show in the dropdown menu, and finally selecting File name extensions. First, make sure you have the driver file available on your Windows 11 system. Download it from the hardware manufacturer’s website. If possible, use the installer that came with the driver.

In addition to my fast learning abilities, initiative and teamwork skills, I am extremely adaptable. As a result, if you are swapping AMD GPUs with AMD GPUs, or Nvidia GPUs with Nvidia GPUs, you won’t need to uninstall the previous drivers before installing the new GPUs. After you complete the steps, the driver package will install on your device. Check the Include subfolders option to find the correct “.inf” file with the instructions to apply the driver. You can also find hardware updates by clicking the Advanced options section in the Windows Updatemenu.

How can I get ready for the procedure?

And when you uninstall the NVIDIA Drivers, there will be a prompt window reminding you if you want to delete all the nView files you had saved before. You can according your requirements to decide. The different NVIDIA drivers have the different versions. And the NVIDIA PhysX System Software is not the NVIDIA driver, so you do not need to uninstall this item.

  • Please replace “graphics device” with intel, amd or nvidia.
  • If you want to keep your graphics card running as fast as possible with all the latest
8 08, 2022


2022-08-08T16:46:24-04:00August 8th, 2022|2- Daily Briefing|

Progressives Press Price Controls

Last week, a group of progressive Democrats and CBC members introduced H.R. 8658, legislation designed to press the President to institute price controls and give him greater authority to do so.  The bill is supported by major labor unions and consumer/public-advocacy groups which argue that price controls are essential to prevent profiteering in goods such as energy and food and services such as rental housing.  The measure includes no express provisions affecting financial services, but additional discussion of it is likely to provoke calls also for lower and fewer bank fees, higher consumer deposit rates, and reduced mortgage rates.

FRB-Dallas: Fed Policy Hiked Current Inflation

A new Federal Reserve Bank of Dallas study reaches a conclusion likely to exacerbate criticism of current monetary policy:  the 2020 flexible-average inflation targeting (FAIT) construct increased inflation over what would otherwise have been predicted by 1.8 percentage points on average.  Models-based and thus an assessment FAIT on a preferred construct, the paper also finds that FAIT may have large effects over short time periods due to delayed intervention.  These delays can, the study notes, have the FOMC’s intended effect of preventing the Fed from over-reacting to transitory shocks; the study does not provide insights into whether delays and the 1.8 pp increase was appropriate given that inflation did not prove transitory and may now have become more difficult to combat.


8 08, 2022


2022-08-08T09:29:36-04:00August 8th, 2022|6- Client Memo|

Procyclical Capital Rules and the Economy’s Discontent

In our recent paper outlining the holistic-capital regime regulators should quickly deploy, we noted that current rules are often counter-productive to their avowed goal of bank solvency without peril to prosperity.  However, one acute problem in the regulatory-capital rulebook – procyclicality – does particularly problematic damage when the economy faces acute challenges – i.e., now.  None of the pending one-off capital reforms addresses procyclicality and, in fact, several might make it even worse.  This memo shows how and then what should be quickly done to reinstate the counter-cyclicality all the regulators say they seek.


8 08, 2022

Karen Petrou: Procyclical Capital Rules and the Economy’s Discontent

2022-08-08T09:18:16-04:00August 8th, 2022|The Vault|

In our recent paper outlining the holistic-capital regime regulators should quickly deploy, we noted that current rules are often counter-productive to their avowed goal of bank solvency without peril to prosperity.  However, one acute problem in the regulatory-capital rulebook – procyclicality – does particularly problematic damage when the economy faces acute challenges – i.e., now.  None of the pending one-off capital reforms addresses procyclicality and, in fact, several might make it even worse.  This memo shows how and then what should be quickly done to reinstate the counter-cyclicality all the regulators say they seek.

Last Thursday, the Fed set new, often-higher risk-based capital (RBC) ratios for the largest banks.  The reason for this untimely capital hike lies in the interplay between the RBC rules and the Fed’s CCAR stress test.  Packaged into the stress capital buffer (SCB), these rules determine how much RBC each large bank must hold to ensure it can stay in the agencies’ good graces and, to its thinking, better still distribute capital.

Put very simply, the more RBC, the less RWAS – i.e., the risk-weighted assets, against which capital rules are measured.  The higher the weighting, the lower a capital-strained bank’s appetite to hold it unless risk is high enough also to offset the leverage ratio’s cost – at which point the bank is taking a lot of unnecessary risk to sidestep another set of unintended contradictions in the capital construct.  As a Fed study concludes, all but the very strongest banks sit on their …

8 08, 2022

Ubuntu Linux Install Nvidia Driver Latest Proprietary Driver nixCraft

2022-08-15T09:16:56-04:00August 8th, 2022|Drivers|

If a driver isn’t installed for a particular piece of hardware, the device won’t work. This can often be fixed by updating the drivers, but you may need to replace the hardware if it’s not working properly. These are just a few ways that you can update your motherboard drivers. Updating your drivers regularly is a good idea regardless of whether you’re a gamer or not. If prompted to install drivers, choose Install from a list or specific location , then click Next. Soon as you are in windows, you’ll have your user account, configure the start menu and security settings how you want it, then pop in your motherboard disc to install the drivers.

  • If you’re unsure of whether you need drivers, read on!
  • In this stage, boot devices are initialized, UEFI drivers or Option ROMs of PCI devices are executed according to system configuration, and boot options are processed.
  • It may be worth reinstalling the driver and restarting your computer if you see a different driver listed than anticipated.
  • Typically these computers may have keyboards, mousepads or specialized components such as USB ports, LAN ports or audio converter ports.

You can now install unsigned drivers without any blocks. Whatever the reason it might be, Windows 10 includes at least two ways to disable the signature enforcement to install unsigned drivers using the Startup settings and test mode. You’ll need to disable driver signature enforcement if you want to install unofficial drivers, old unsigned drivers. If you’re building drivers …

5 08, 2022


2022-08-05T16:38:19-04:00August 5th, 2022|3- This Week|

An Unquiet August

As is all too evident, campaign season is roaring and Democrats are doing all they can to persuade Americans that allowing them to retain Congressional control is the best way to ensure a better economic outcome than pretty much anyone else thinks possible.  As of this writing, the “Inflation Reduction Act” is moving forward, with the Senate thus set for a “vote-a-rama” in which all sorts of extraneous issues appear seemingly out of nowhere as appendages to a must-pass measure.  We are watching this closely and will advise clients as soon as we identify legislation with financial-sector strategic impact.  And, while August is indeed vacation season, federal regulators remain very busy in part because several cherished initiatives are at grave risk should Republicans gain control of both the House and Senate.  As we have noted, the CFPB is less frightened of Congress because it’s less scrupulous about the niceties of administrative action, but it will use August’s seeming quiet to drop some high-impact initiatives.


5 08, 2022


2022-08-05T16:26:21-04:00August 5th, 2022|2- Daily Briefing|

Senate Dems Demand Answers from Equifax re Inaccurate Credit Scores

In a letter today to Equifax’s CEO, Sens. Warren (D-MA), Warner (D-VA), and Krishnamoorthi (D-IL) demanded answers about erroneous credit scores, asking why the company failed to notify affected borrowers and waited several weeks to notify lenders.  The Senators claim that Equifax’s response in an environment of rising interest rates forced some borrowers to pay higher rates or rejection and ask Equifax to explain the cause and scope of the error, compensation plans, and whether all affected parties or any relevant regulatory authorities have been notified.

Brown Targets Life-Insurance Systemic Risk

Senate Banking Chairman Brown (D-OH) today announced that he plans a hearing questioning the role of private-equity companies in the life-insurance sector.  In letters to FIO and the NAIC, he cites Federal Reserve statements regarding insurance-industry leverage (see Client Report SYSTEMIC93), indicating that he believes this poses systemic challenges akin to those in the banking sector before 2008.  FIO is asked to target analysis of offshore reinsurance sector risk-taking across the life-insurance sector; NAIC is asked to work with the FIO on issues raised in its prior letter to the chairman.


5 08, 2022

You’re going to want to update your Wi-Fi and Bluetooth drivers today

2022-08-11T06:20:15-04:00August 5th, 2022|Drivers|

Your computer system needs drivers to enable devices like printers and cameras to function correctly. Now, if these drivers get corrupted or damaged, the device will malfunction and start throwing errors. Bluetooth driver issues may prevent connectivity across devices. It is often easier and saves time to have automatic driver software updates. For those that wish to update on their own continue reading.

In this article, we will discuss the reasons why Bluetooth audio delay occurs and provide some popular fixes. How-To Backblaze Cloud Backup Review – Updated 2021 Backing up your data to the cloud via an automated service is critical. Backblaze is the solution I use and recommend. Zoom is one of the most popular video conferencing apps in the world, so if the camera isn’t working it can be a real pain. Hopefully, one of the tips above on how to fix Zoom camera issues will have helped you to resolve your problems. Once your camera is working, you’ll also need to be sure that your microphone is working correctly, too.

  • In other words, you should start searching for another Bluetooth adaptor for your PC or laptop.
  • Confirm the monitor is connected to a power source.
  • Vivante Corporation is a fabless semiconductor company which licenses semiconductor intellectual property cores and develops the GCxxxx series of GPUs.

Windows Bluetooth driver update has come to be an inevitable need for most Bluetooth-enabled devices. Earlier, Bluetooth devices were not compatible with any other Bluetooth device or with any other peripheral …

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