The U.S. House Financial Services Subcommittee on National Security, International Development and Monetary Policy considered legislative proposals aimed at addressing fraud and cybersecurity vulnerabilities.
The Federal Reserve Board solicited feedback on whether to amend regulations on reserve requirements to lower the rate of interest paid on excessive balances maintained at FRB banks by eligible institutions.
The FDIC and the Federal Reserve Board issued an advisory on "Voluntary Loan Rehabilitation Programs" to alert financial institutions of Fair Credit Reporting Act provisions under the Economic Growth Relief and Consumer Protection Act.
New York State Department of Financial Services Superintendent Maria Vullo reminded regulated entities that they must be in full compliance with the requirements of NYDFS cybersecurity regulation by March 1, 2019.
In a semiannual risk report, the Office of the Comptroller of the Currency reported on the operating environment, performance, emerging risk, trends and supervisory actions at national banks and federal savings associations.
The Federal Reserve Bank of New York Executive Vice President Richard Dzina discussed the current state of cyber resilience and endpoint security and highlighted several questions intended to "advance the industry discourse and to consider measures to meet the present challenge."
The Federal Financial Institutions Examination Council alerted financial institutions to the potential impact that cyber-related sanctions may have on information technology, operations and compliance.