The OCC, FRB and FDIC requested comment on a set of rules as part of a process to identify "outdated" or "unnecessary" regulatory requirements on insured depository institutions and their holding companies.
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.
A non-U.S. bank and its New York State branch settled separate charges with the Federal Reserve Board and the New York Department of Financial Services for unauthorized disclosure of confidential supervisory information and anti-money laundering and related violations.
Federal Reserve Board Vice Chair for Supervision Michael S. Barr argued that good cyber defense is "not sufficient" to address cyberattacks; he emphasized that banks must focus on operational resilience and improved risk management to confront the threat.
Federal Reserve Board Governor Michelle W. Bowman offered a proposed path forward to address the balance needed for successful bank capital reform in the financial markets.