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.
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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."
In a partially redacted Order in a "Supervisory Designation Proceeding," the CFPB determined that it has supervisory authority over an installment lender after concluding that the lender met the legal standard for supervision under the Consumer Financial Protection Act.
House Financial Services Committee Chair, Patrick McHenry (R-NC) reintroduced a bill to "promote innovation in financial services" by establishing Financial Services Innovation Offices (FSIO) across various agencies.
In its 2023 Annual Report, the FSOC identified potential emerging threats to U.S. financial stability and made recommendations to mitigate those threats.