A bank settled parallel SEC and Federal Reserve Board charges for (i) extending lines of credit to affiliates of the bank's CEO without the majority approval of its board, (ii) failing to disclose related party loans in annual reports and proxy statements, and (iii) issuing materially misleading statements.
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At the 26th UN Climate Change Conference of the Parties , Treasury Secretary Janet L. Yellen applauded private sector support for financing the transition to a net-zero economy.
In a report on climate-related financial risk, the Financial Stability Oversight Council identified climate change as an emerging and increasing threat to U.S. financial stability.
At the Venice International Conference on Climate Change, Financial Stability Board Chair Randal K. Quarles described "foundational components" for climate-related financial risk disclosure. Separately, Secretary of the Treasury Janet L. Yellen called for consistency across climate change reporting frameworks.
The CFPB and the Federal Reserve Board set dollar thresholds for exempt consumer credit and lease transactions in 2020.