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.
Board of Governors of the Federal Reserve System member Lael Brainard discussed the importance of facilitating FinTech innovation while also allowing consumers to maintain control over their financial data.
The Consumer Financial Protection Bureau requested comments on its proposed amendments to procedures and rules for the disclosure of records and information. The request for comments was published in the Federal Register.
Senators Sherrod Brown (D-OH) and Jeff Merkley (D-OR) urged the heads of numerous federal regulatory agencies to provide insight about the tools they utilize to ensure effective oversight over financial technology firms.
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