CFPB Director Rohit Chopra decried the trend toward bank consolidation and proposed reforms to bank merger policy.
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The OCC, the FRB and the FDIC jointly issued (i) an interim final rule that delays the applicability date of the facility-based assessment areas and public file provisions contained in the Community Reinvestment Act and (ii) a final rule that makes related technical amendments.
The FDIC proposed amendments to its Statement of Policy on Bank Merger Transactions relevant to all insured depository institutions.
At a House Financial Services Committee hearing titled "Importing Global Governance: Examining the Dangers of Ceding Authority Over American Financial Regulation," witnesses from the principal banking agencies testified on the interactions between the regulators and global regulatory bodies.
CFTC Commissioner Summer K. Mersinger asserted that the Basel III Endgame Proposal, if adopted, would have a significant negative impact on derivatives markets.