On December 6, 2019, experts testified before the House Financial Services Committee on the impact of artificial intelligence on investing, the financial services workforce, and compliance and risk management.
In testimony before the House Financial Services Committee, OCC Comptroller Joseph M. Otting defended proposed amendments to the Community Reinvestment Act designed to encourage banks to provide more qualified lending, investment and services.
The OCC and the FDIC proposed amendments to the regulations implementing the Community Reinvestment Act to encourage banks to provide more qualified lending, investment and financial services to underserved communities.
The House Financial Services Committee considered (i) testimony from federal banking regulators on a broad range of concerns and (ii) several proposed bills imposing additional requirements on financial institutions.
In a newly published consultative document, the Bank for International Settlements Basel Committee on Banking Supervision proposed several "limited adjustments" to the credit valuation adjustment risk framework.
The Consumer Financial Protection Bureau reported supervisory observations and exam findings in automobile loan servicing, deposits, mortgage servicing, and remittances between June 2018 and November 2018.