Senate Banking Committee Chair Sherrod Brown (D-OH) pressed Treasury, the SEC and the CFTC to take further action to remedy disclosure deficiencies associated with digital asset tokens and digital asset platforms.
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Senator Catherine Cortez Masto (D-NV) reintroduced a bill to amend the Consumer Financial Protection Act of 2010 to provide greater incentives and protections to whistleblowers.
U.S. President Joseph R. Biden urged Congress to "impose tougher penalties for senior bank executives whose mismanagement contributed to their institutions failing." He is expected to announce Administration actions to address the financial fallout of the recent bank failures today.
The CFPB finalized amendments to its Rules of Practice for Adjudication Proceedings to (i) allow parties to conduct depositions of potential witnesses and (ii) allow for bifurcation of cases with court approval.
Comments on a CFPB proposal to establish a public registry designed to collect information about public agency orders and judgments related to violations of the consumer protection laws are due by March 31, 2023.