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 Office of the Comptroller of the Currency updated the following booklets of the Comptroller's Handbook: "Bank Premises and Equipment," "Consigned Items and Other Customer Services," and "Litigation and Other Legal Matters."
NY Fed President and CEO William Dudley encouraged financial institutions to ensure that incentives are aligned with responsible behavior, and that controls are in place for the early detection of misconduct.
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.
The Democratic staff of the House Financial Services Committee, citing Republican efforts to repeal the Consumer Financial Protection Bureau arbitration rule, criticized efforts to "functionally terminate" the agency.