A bipartisan group of U.S. Senators urged the FDIC to grant "fair consideration" of applications for deposit insurance made by industrial loan companies and voiced their opposition to regulatory actions that target lawful ILC applications.
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Two House Financial Services Subcommittees considered the CFPB's latest actions on the proposed "Larger Participant Rulemaking" proposal and its proposal to limit "junk fees."
The NFA submitted to the CFTC proposed changes to bylaws related to the qualifications for public directors on the NFA's Board.
In an address before the Council of Institutional Investors, SEC Commissioner Mark T. Uyeda underscored the importance of adhering to statutory limits in the exercise of administrative power and enforcement, and called for a regulatory framework that provides clear, predictable guidelines for market participants.
Republican members of the House Financial Services Committee urged banking regulators to withdraw their Basel III Endgame proposal. The legislators argued that, as issued, the proposal "lacks justification, lacks rigorous quantitative analysis, and is procedurally flawed."