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The OCC, the Federal Reserve Board and the FDIC proposed long-term debt requirements for large banking entities, holding companies, foreign banking organizations and large insured depository institutions to facilitate resolvability in the event of failure and to reduce the risk of contagion within the financial system.

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.