DAILY041422
Admin Issues Low-Impact Equity Plans
We have reviewed the Treasury and HUD reports filed in compliance with President Biden’s executive order on racial equity.
CEA Urges Tough Merger Policy, New Government Green Investments
Today’s Economic Report of the President from the Council of Economic Advisers emphasizes the Administration’s positive view of the economy and its own macroeconomic and equity accomplishments.
GSE Strategic Plans Demands Equity, Sustainability
FHFA today released the final version of its forward-looking strategic plan for Fannie, Freddie, and the FHLBs. As we noted when the proposal was released in February, the plan redirects all of the GSEs to focus not only on safety-and-soundness and more traditional mission criteria, but also on equity and sustainability.
EXIM Enters Domestic C&I Finance
The U.S. Export-Import Bank today announced a fundamental shift in its decades-long function, going beyond export finance now to fund or guarantee domestic manufacturing companies even if they are only “export-focused” and do not use EXIM funds for export-related activity.
DOJ Equity Report Quiet on Mergers and Fair-Lending
Our review of the Department of Justice’s report implementing President Biden’s equity order indicates no discussion of bank-merger policy (see FSM Report MERGER10) or fair-lending enforcement, despite the high-priority focus given to these issues and the link drawn from them to equity outcomes in Mr. Biden’s competition order (see Client Report MERGER6).
FinCEN Targets Kleptocrats, Corrupt Public Officials
FinCEN today implemented provisions in the President’s anti-corruption order, issuing an advisory laying out how financial …