The Board of Governors of the Federal Reserve adopted new operational risk management requirements for systemically important designated clearing organizations.
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The Federal Reserve Board proposed amendments to the risk management standards governing operations related to the payment, clearing and settlement activities of certain designated financial market utilities.
The U.S. House Committee on Financial Services marked up and passed bills on special purpose acquisition companies, broker-dealer and investment adviser mandatory arbitration clauses in customer agreements, and hiring practices.
The Federal Reserve Board, CFPB, FDIC, OCC, National Credit Union Administration and state financial regulators alerted mortgage servicers that they will resume their respective pre-pandemic supervisory and enforcement approaches towards noncompliance with mortgage-servicing rules.
At a hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Treasury Secretary Janet L. Yellen and Federal Reserve Board Chair Jerome H. Powell touted the federal government's financial response to the pandemic and urged Congress to raise the debt limit.