#Khan – Federal Financial Analytics

22 12, 2022

DAILY122222

Eliza Allen2022-12-22T16:43:24-05:00December 22nd, 2022|2- Daily Briefing|

Waters Blasts ICE/BKI Merger

Although HFSC Chair Waters (D-CA) frequently opposes large-bank mergers, her stand today against the ICE/Black Knight deal is the first time we can recall her taking a public stand on a transaction before the Federal Trade Commission (outside HFSC’s jurisdiction).

Toomey Sets Agenda for GOP Fed Reform

Among his parting shots, Senate Banking Ranking Member Toomey (R-PA) yesterday introduced legislation to reform the Federal Reserve System.

Toomey Also Tries to Set Stablecoin Agenda

In another effort to set the terms of debate before he departs, Senate Banking Ranking Member Toomey (R-PA) also introduced a new version of his initial stablecoin legislation (see FSM Report CRYPTO27).

Warren Doubts Zelle’s Fraud Policy Changes

Continuing her campaign against Zelle fraud, Sen. Warren (D-MA) today sent a letter to the CEO of Zelle’s parent company demanding a briefing on pending efforts to compensate consumers for fraudulent transfers.

CFPB Cites ARM Risks, Rewards

The CFPB today issued a consumer alert describing the risks associated with various mortgage products during a period of rising interest rates.

Project Hamilton Ducks CBDC-Feasibility Decision

The Federal Reserve Bank of Boston today announced the completion of its Project Hamilton work with MIT on a U.S. CBDC.

Fed to Reconsider Key Bank-Control Criteria

Although the banking agencies today reiterated that their policy is not generally to require reporting of loans to potentially controlling principal-fund complexes or banks that meet passivity requirements, the Fed will now reconsider relevant rules in this sector.

Daily122222.pdf…

Daily011822

Arezou Rafikian2023-04-24T13:38:11-04:00January 18th, 2022|2- Daily Briefing|

FinCEN Takes Cautious Steps to AML Innovation
In remarks just released today, Acting FinCEN Director Him Das largely revisited recent FinCEN actions in response to Congressional requirements.

Brown Lays Out Fed Confirmation Plan
Senate Banking Chairman Brown (D-OH) today told press that he will accelerate hearings on Fed-nominees Bloom Raskin, Cook, and Jefferson as well as seek floor time in early February. He did not make it clear if he hopes to package all these nominations with Mr. Powell’s in hopes that this will provide additional votes, but Senate procedure requires votes on each nomination even if all are taken up together.

DOJ/FTC Propose Structural Antitrust Rewrite
Although the Department of Justice already has opened the door for public comment on bank mergers (see FSM Report MERGER10), it and the Federal Trade Commission today sought comment on the entire U.S. antitrust construct.

Daily011822.pdf…

Daily121721

Arezou Rafikian2023-05-22T15:52:04-04:00December 17th, 2021|2- Daily Briefing|

Partisan Battle to Have Lasting FDIC Impact– HFSC Chairwoman Waters (D-CA) reiterated her opposition to FDIC Chair McWilliams’ decision to quash the merger RFI circulated by FDIC Board Democrats (see FSM Report MERGER9), highlighting her recent letter to bank regulators calling for a moratorium on all bank mergers over $100 billion and saying again that these threaten community banks, small businesses, and consumers.

FSOC: Systemic Risk Elevated, Much Work in Progress
FSOC met to consider its annual stability report, which strikingly differs with the Fed’s more sanguine view of systemic risk (see Client Report SYSTEMIC92).

DOJ Redefines M&A Outlook
Even as partisan warfare continues over the Democratic merger RFI (see FSM Report MERGER9), the Department of Justice has irrevocably altered the M&A outlook by reopening its 2020 request for comment (see Client Report MERGER5).

GAO: Alternative Data’s Potential Stymied by Risks, Uncertainties
The GAO issued a report on the potential for alternative data to expand mortgage access for borrowers with minimal credit histories, concluding that current uncertainties and risks limit fair and effective use.

Daily121721.pdf…