13 07, 2022


2023-01-06T15:18:57-05:00July 13th, 2022|2- Daily Briefing|

Small Business Committee Urges Fintech Transparency, New CFPB Role in Fintech Lending

Today’s Small Business Subcommittee on Oversight, Investigations, and Regulations hearing on fintech transparency focused on financial practices that may harm small businesses’ access to credit.

HFSC Party Lines Form on CRA Rewrite

As anticipated, the Subcommittee on Consumer Protection and Financial Institutions today held a hearing examining the banking agencies’ proposed rule to modernize the CRA (see FSM Report CRA32).

Fed Proposes Debit-Card, Payment-System Data Collections

Although the Fed has yet to finalize a controversial proposal related to debit-interchange fees (see FSM Report INTERCHANGE8), it has proposed changes to how it collects debit-card information essential to implementing changes to network selection and, should it come to do so, fee calculations.

FSB Chair Reiterates Need for Crypto Regulation, Highlights Progress on Climate Roadmap

FSB Chair Klaas Knot’s letter today to the G20 ministerial reiterated all the points regarding COVID exit strategies, regulation of cryptoassets, and executing FSB’s climate roadmap outlined after June’s plenary meeting.

Senate Democrats Demand More Stringent, Binding Fed Ethics Standards

Senate Banking Committee Chairman Sherrod Brown (D-OH) joined by four other Democrats today sent a letter to Chairman Powell again calling for more stringent, enforceable Fed ethics standards, and reminded Mr. Powell in strongly-written arguments about the need to do so via binding regulation or by the kind of statutory change they have already introduced.

Global Regulators Press for Global Stablecoin Payment-Risk Standards

Doubtless spurred by FSB requests and market …

6 10, 2021


2023-06-20T16:34:10-04:00October 6th, 2021|2- Daily Briefing|

Toomey Continues GOP Attack on Comptroller Nomination
Making clear Senate Banking Republicans intend to give Comptroller-nominee Omarova no quarter, Ranking Member Toomey (R-PA) today requested a copy of her college thesis authored while Ms. Omarova was studying at Moscow State University.

Carstens Reiterates: Big Tech Demands Entity-Based Rules
Although U.S. policymakers have yet to reckon with big tech in financial services, global regulators continue to advance plans for new rules to govern the sector, with BIS General Manager Agustín Carstens today reiterating the need for entity-based rules.

BIS, IOSCO: FMI Principles Apply to Systemically-Important Stablecoins
The BIS Committee on Payments and Market Infrastructures (CPMI) and IOSCO today issued for consultation guidance on the application of their Principles for Financial Market Infrastructures (PFMI) to stablecoin arrangements.


Go to Top