A bank settled CFPB charges of violating the unfair acts and practices provisions of the Consumer Financial Protection Act.
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The Federal Reserve Board extended the comment period for a proposal on framework for supervision of insurance activities.
The Federal Reserve Board published in the Federal Register a request for comments on proposed guidance concerning a framework for the supervision of insurance activities by depository institution holding companies.
The Federal Reserve Board requested comment on proposed guidance on a framework for the supervision of any depository institution holding company that (i) is an insurance underwriting company, or (ii) has over 25 percent of its consolidated assets held by insurance underwriting subsidiaries.
Federal Reserve Board Vice Chair for Supervision Randal Quarles described the vulnerabilities of nonbank financial intermediation, revealed by COVID-19 related shocks to the financial markets.