CFTC Commissioner Summer K. Mersinger asserted that the Basel III Endgame Proposal, if adopted, would have a significant negative impact on derivatives markets.
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In a partially redacted Order in a "Supervisory Designation Proceeding," the CFPB determined that it has supervisory authority over an installment lender after concluding that the lender met the legal standard for supervision under the Consumer Financial Protection Act.
The OCC, FRB and FDIC requested comment on a set of rules as part of a process to identify "outdated" or "unnecessary" regulatory requirements on insured depository institutions and their holding companies.
U.S. Representatives French Hill (R-AR), David Scott (D-GA), and Ann Wagner (R-MO) urged the DOL to "cease its efforts" to adopt the "Retirement Security Rule" proposal "to prevent needlessly inflicting harm on millions of retirement savers across the country."
SIFMA and SIFMA Asset Management Group urged the DOL to withdraw its latest version of the "Retirement Security Rule" proposal and accompanying prohibited transaction exemption amendments that would expand the activities resulting in a person being deemed an "Investment Advice Fiduciary."