Federal Reserve Board Governor Michelle W. Bowman summarized her views on monetary policy, cryptocurrencies, payment systems, climate-related risk and updating the Community Reinvestment Act.
The FDIC, the Federal Reserve Board and the OCC provided a due diligence guide to aid community banks with their risk assessments of FinTech companies.
In testimony before the Senate Banking Committee, Federal Reserve Board Vice Chair for Supervision Randal K. Quarles provided legislators with an update on the effects and wind-down of programs implemented in response to the pandemic.
An investment firm was fined $2.9 billion by several authorities for its failure to (i) properly oversee its operations, (i) maintain internal controls and (iii) conduct proper risk management, with regard to its employees' involvement in improper payments to foreign officials.
A national bank settled Federal Reserve Board and OCC charges for failure to correct deficiencies in risk management and internal controls, data quality management and compliance management.