At a hearing before the Senate Banking Committee on her nomination to become Vice Chair of the Federal Reserve Board, Governor Lael Brainard argued that monetary policies must be "focused on getting inflation back down to 2 percent while sustaining a recovery."
The FDIC and FinCEN will open registration for interested individuals to participate in a "Tech Sprint Program" to focus on developing solutions "for financial institutions and regulators to help measure the effectiveness of digital identity proofing."
In testimony before the Senate Banking Committee at a hearing on his nomination for a second term, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, concluded that the economy no longer needs the highly accommodative policies in place to deal with the pandemic and the aftermath.
In a new report, the CFPB asserted that credit bureaus Equifax, Experian and TransUnion did not comply with statutory obligations to respond to consumer complaints submitted through the CFPB's complaint process.
Treasury announced that, after the necessary consultation with the FDIC and the SEC, it is providing a retail broker-dealer with a conditional exemption from certain Dodd-Frank recordkeeping requirements for certain of its qualified financial contracts.