The New York Department of Financial Services reminded banking institutions of recent amendments to the New York Community Reinvestment Act that require additional information on activities with respect to minority- and women-owned businesses.
The staff of the SEC Division of Investment Management withdrew 2010 guidance which reviewed the permissibility of an SEC-registered, closed-end fund determining to opt in to a control share acquisition statute authorized under state law.
The Managed Funds Association and the Alternative Investment Management Association recommended modifications to the SEC's proposal on the use of derivatives by registered investment companies and business development companies.
The Investment Company Institute offered recommendations on the SEC's "re-proposed" rule to provide a comprehensive approach to the regulation of funds’ use of derivatives and other senior securities transactions.
Federal Reserve Board Governor Lael Brainard proposed an approach to Community Reinvestment Act oversight that would use metrics on retail banking services and community development to evaluate banks in low- and moderate-income neighborhoods.
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.
At a roundtable discussion hosted by the Federal Reserve Board, bankers and community groups described their experiences with Community Reinvestment Act implementation and proposed amendments to better address underserved areas.
The Federal Reserve Board Division of Consumer and Community Affairs introduced a new publication that is intended to provide industry members with guidance on relevant supervisory issues related to consumer protection.
The Office of the Comptroller of the Currency notified national banks, federal savings associations, and federal branches and agencies of clarifications to supervisory policies and processes for Community Reinvestment Act exams.
In testimony before the House Financial Services Committee, Comptroller of the Currency Joseph Otting identified the top priorities of the Office and detailed operational and compliance risks faced by the banking industry.
In a blog post, the Consumer Financial Protection Bureau listed "the regulatory matters that the Bureau reasonably anticipates having under consideration during the period from May 1, 2018, to April 30, 2019."