Legislators questioned prudential regulators on (i) diversity in banking, (ii) the regulatory response to the COVID-19 pandemic, and (iii) the changing regulatory landscape due to climate change, cybersecurity, and digitization.
News & Insights
The Federal Reserve Board, the CFPB, the FDIC, the National Credit Union Administration and the OCC extended a request for information and comments on financial institutions' use of artificial intelligence and machine learning.
A joint OCC, Federal Reserve Board and FDIC proposal to establish requirements for tax allocation agreements between institutions and their holding companies in a consolidated tax filing group was published in the Federal Register.
The OCC, Treasury, Federal Reserve Board and FDIC proposed a joint rulemaking to establish requirements for tax allocation agreements between institutions and their holding companies in a consolidated tax filing group.
In a joint statement, the Federal Reserve Board, the FDIC and the OCC, in consultation with FinCEN and the National Credit Union Administration, described how the agencies' "Supervisory Guidance on Model Risk Management" relates to Bank Secrecy Act / Anti-Money Laundering systems.