#ANPR – Page 2 – Federal Financial Analytics

22 06, 2022

DAILY062222

Eliza Allen2023-01-25T15:55:01-05:00June 22nd, 2022|2- Daily Briefing|

Treasury Issues Stern Sanctions Warning to Foreign Banks

In remarks today to UAE bankers, Deputy Treasury Secretary Wally Adeyemo warned that foreign financial institutions are subject to possible sanction if transactions touch sanctioned entities via any U.S.-domiciled point.

CFBP Follows Threats with Credit-Card Action Plan

Consistent with its promises as recently as last week, the CFPB today released an ANPR examining ways to govern what it calls excessive late fees charged by credit-card issuers and announced broader initiatives in this sector.

CBDC Authorizing Legislation Takes Shape

Building on his HFSC subcommittee’s CBDC hearing record (see Client Report CBDC13), Rep. Jim Himes (D-CT) today released a white paper outlining legislation he plans to advance to authorize and define CBDC for the United States.

House Set to Report Revised ILC Reform Bill

As anticipated, HFSC seems likely to report H.R. 5912, ILC-reform legislation introduced by Rep. Chuy García (D-IL) (see FSM Report ILC13). The measure subjects ILCs to bank regulation, rolling back the FDIC’s rule during the Trump Administration providing these charters with unique regulatory advantages (see FSM Report ILC15).

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DATA2

Arezou Rafikian2023-08-03T14:30:53-04:00September 21st, 2021|5- Client Report|

HFSC Tackles Consumer Data Ownership

Today’s HFSC Fintech Task Force Hearing featured an appearance by Full Committee Chairwoman Waters (D-CA) arguing against consumer opt-out. Although her statement was focused on privacy given the nature of the hearing, it may have broader implications for other financial services issues, including overdrafts. The hearing also featured bipartisan support for the CFPB’s consumer data ownership ANPR (see FSM Report DATA), with Ranking Member Davidson (R-OH) highlighting the need to read consent narrowly and provide “property rights” for consumers over their financial data. Rep. Davidson indicated that he is also developing a bill to secure those rights.

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Daiy092021

Arezou Rafikian2023-08-03T14:33:08-04:00September 20th, 2021|2- Daily Briefing|

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.

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