The New York State Department of Financial Services provided temporary regulatory relief for New York-chartered financial institutions concerning (i) conducting in-person meetings and (ii) holding annual stockholder meetings.
An article on the effective date for the Federal Reserve Board, OCC and FDIC joint final rule increasing the major asset prohibition thresholds for the management interlock rule misstated the effective date as October 9, 2019. The correct effective date is October 10, 2019.
The Office of the Comptroller of the Currency, Federal Reserve Board and FDIC joint final rule to increase the major asset prohibition thresholds for management interlock rule was published in the Federal Register.
House Financial Services Committee Chair Maxine Waters and Senate Banking Committee Ranking Member Sherrod Brown called on Comptroller of the Currency Joseph Otting to disclose his plans for the Federal Housing Finance Agency.
Republican members of Congress filed an amicus brief supporting President Donald Trump and Acting CFPB Director Mick Mulvaney in a lawsuit challenging the President's appointment of Mr. Mulvaney as acting head of the CFPB.
The Senate Banking Committee voted to advance the nominations of Joseph Otting to serve as Comptroller of the Currency, and Randal Quarles for Vice Chair of the Board of Governors of the Federal Reserve System.
Comptroller of the Currency Thomas J. Curry announced that he will step down as Comptroller on May 5, 2017. In a speech before a FinTech conference, he reaffirmed the OCC's continuing commitment to facilitate innovation.
Federal Reserve Bank of New York President William C. Dudley offered several principles to consider when evaluating the post-financial crisis regulatory regime and raised questions about the effectiveness of the Volcker Rule.
House Republicans released the Financial Choice Act of 2017. The bill represents a major overhaul of the current financial services regulatory regime and includes a partial repeal of the Dodd Frank Act.