30 03, 2023


2023-03-30T17:27:30-04:00March 30th, 2023|2- Daily Briefing|

Yellen Calls for Bank, Nonbank Regulatory Rewrite

Implicitly confirming press reports that the White House will soon press for tougher bank rules, Treasury Secretary Yellen today said that, as beneficial as the rules imposed since the great financial crisis have been, more stringent standards are necessary.

Hsu Sets Dual OCC Mission: Safety, Fairness

In remarks today, Acting Comptroller Hsu emphatically echoed statements of other top regulators that the banking system is safe and sound, emphasizing that the OCC is monitoring the market and is prepared to use its tools to protect the system.

Basel Updates Global Liquidity, Operational Standards

Although the U.S. has still not even proposed the Basel IV “end-game” standards, the Basel Committee continues to refine them and today issued its latest set of FAQs.

White House Sets Reg-Reform Agenda

As anticipated early this morning, the White House has issued a statement calling on federal banking agencies to roll back rules the President describes as weakening “common-sense bank safety and supervision.”

Senate Dems Press Agencies to Strengthen Capital Rules

Following this week’s hearings (see Client Report REFORM218), Sens. Warren (D-MA), Blumenthal (D-CT), and Duckworth (D-IL) sent a letter to Vice Chair Barr, Chairman Gruenberg, and Acting Comptroller Hsu urging them to strengthen large-bank capital requirements.

CFPB Stands By Its Small-Business Reporting Rules

Despite strong industry and GOP opposition, the CFPB today finalized its small business data collection rulemaking in a sweeping final rule the Bureau says will increase transparency in small business lending, promote economic …

23 02, 2022


2023-04-04T15:27:18-04:00February 23rd, 2022|2- Daily Briefing|

OCC FAQs Cast Some Light on Complex CRA Compliance Challenges

Attempting yet again to calm national-bank concerns about their CRA obligations, the OCC late yesterday issued FAQs laying out how it will judge CRA performance after rescinding the Trump Administration’s CRA standards (see Client Report CRA28), returning rules to the 1995 regime, and agreeing to work with the other agencies on a wholly-new CRA construct.

CFPB Takes up AVM Reform

The CFPB today got a jump on the banking agencies and FHFA, releasing a set of options to address fair-lending and other risks in automated-valuation models (AVMs), moving on a long-neglected mandate in the 2010 Dodd-Frank Act (see FSM Report CONSUMER14).


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