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 Treasury Department issued an interim final rule that "establishes a fee for parties filing a formal written notice of a transaction for review by the Committee on Foreign Investment in the United States.”
A CFTC proposal to apply federal speculative position limits to 25 "core referenced futures contracts" - including futures and options linked to those contracts and economically equivalent swaps - was published in the Federal Register.
The Congressional Research Service provided an overview of the current authority of the Committee on Foreign Investment in the United States following the recent implementation of the Foreign Investment Risk Review Modernization Act.
In a 3-2 vote, the CFTC proposed applying federal speculative position limits to 25 "core referenced futures contracts," including futures and options linked to those contracts and economically equivalent swaps.
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.
The American Banking Association, SIFMA and the Institute of International Bankers proposed revisions to a Federal Reserve Board proposal to modify its regulations for determining "whether a company has the ability to exercise a controlling influence" on another company.
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.