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.
The CFTC voted to propose amending its uncleared swap margin regulations to (i) extend the implementation date of initial margin requirements, and (ii) exempt certain transactions from uncleared margin requirements.
The U.S. District Court for the Southern District of New York denied the Office of the Comptroller of the Currency’s motion to dismiss a lawsuit that challenged the OCC’s authority to issue "FinTech" charters under the National Bank Act.
The SEC Office of the Investor Advocate identified "problematic products and practices" and summarized steps the agency and related self-regulatory organizations took to respond to investor concerns during the past year.
SEC Commissioner Hester M. Peirce expressed concern over the United States' conflicting regulatory approach to cryptocurrency, and stated that U.S. regulators are sending "mixed messages" to entrepreneurs.