The OCC, FRB and FDIC requested comment on a set of rules as part of a process to identify "outdated" or "unnecessary" regulatory requirements on insured depository institutions and their holding companies.
News & Insights
The OCC, the Federal Reserve Board ("FRB") and the FDIC (collectively, the "Agencies") set effective dates on amendments to rules implementing the Community Reinvestment Act ("CRA"). The agencies published the rule and the effective dates in the Federal Register.
House Financial Services Committee Chair Patrick McHenry (R-NC) and a bipartisan group of legislators asked banking regulators to clarify "through guidance and other actions" that an SEC Staff Accounting Bulletin, which describes how a custodian must account for digital assets, is not enforceable.
Federal Reserve Board Governor Michelle W. Bowman criticized proposed new capital requirements for banks with more than $100 billion in assets, arguing that the increases were not supported by facts and analysis and could lead to reduced credit availability and increased cost of credit.
The CFPB summarized the structure, implementation and enforcement mechanisms of a number of state-level Community Reinvestment Acts.