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.
News & Insights
CFTC Commissioner Christy Goldsmith Romero warned regulators of the danger of regulatory complacency and not to rollback critical Dodd-Frank post-crisis reforms. She highlighted the need for vigilant management of emerging risks in the cryptocurrency industry and as to the deployment of artificial intelligence in financial services.
In an annual report, the SEC Division of Examinations identified current risks for investors and registrants and highlighted key areas for examination in 2024.
CFPB Director Rohit Chopra praised the mortgage borrowing standards implemented by the CFPB following the 2008 financial crisis. He claimed that recent court cases raising questions about the legitimacy of the CFPB's regulations were "destabilizing" to the housing system.
SEC Commissioner Mark T. Uyeda touted the benefits of new technologies for markets, investors and regulators. He argued that "[j]ust because something is new does not mean that regulators should fear it and preclude financial institutions from utilizing it."