The Federal Reserve Board, the FDIC, the OCC, the National Credit Union Administration and state financial regulators provided guidance to examiners for assessing the "safety and soundness" of a financial institution during the COVID-19 pandemic.
At an SEC Fixed Income Market Structure Advisory Committee meeting, SEC Chair Jay Clayton and Commissioners Elad L. Roisman and Hester M. Peirce addressed issuers concerning rating agencies, bond pricing, trade transparency and internal fund crosses.
The CFPB extended the comment deadline an additional 60 days on a supplemental rule proposal to amend certain requirements on the collection of time-barred debts. The new comment deadline is August 4, 2020.
In remarks to the Financial Stability Oversight Council, SEC Chair Jay Clayton offered observations on the current state of the capital markets and efforts undertaken by the SEC to mitigate systemic risk.
Federal Reserve Board Vice Chair for Supervision Randal K. Quarles and OCC Comptroller Joseph M. Otting described supervisory and regulatory actions to support "consumers, households and businesses" and ongoing efforts to strengthen the banking system.
The MSRB Board of Directors reviewed measures to provide data and resources to stakeholders, including the publication of daily trading summaries and weekly state and local disclosure report summaries.
The Consumer Financial Protection Bureau and the Federal Housing Finance Agency introduced a new program to enable the agencies "to share servicing information to protect borrowers during the coronavirus national emergency."
SEC Office of Credit Ratings Director Jessica Kane highlighted developments in the regulation of nationally recognized statistical rating organizations and solicited feedback on current disclosure obligations.
On December 6, 2019, experts testified before the House Financial Services Committee on the impact of artificial intelligence on investing, the financial services workforce, and compliance and risk management.