In comments submitted to the Basel Committee on Banking Supervision addressing a consultation on the “prudential treatment of cryptoasset exposures,” SIFMA emphasized the need for prompt action that balances "innovation, growth and regulatory conservatism."
The House Committee on Financial Services Subcommittee on National Security, International Development and Monetary Policy considered testimony on lessons learned from emergency lending facilities set up by the Federal Reserve Board during the pandemic.
The CFPB charged a credit-repair software and solutions company and its CEO with assisting credit-repair businesses in their collection of advance fees from consumers, in violation of the Telemarketing Sales Rule.
In remarks before the Blockchain Association, Acting OCC Comptroller Michael Hsu identified lessons from the 2008 financial crisis that regulators and the crypto industry should apply to "avoid repeating the mistakes of the past."
The U.S. House Committee on Financial Services Task Force on Financial Technology considered testimony on developments in data sharing and FinTech which raise consumer protection and regulatory questions.
The Global Financial Markets Association, the Financial Services Forum, FIA, the Institute of International Finance, ISDA and the Chamber of Digital Commerce offered recommendations to the Basel Committee on Banking Supervision on the design of a prudential framework for the treatment of cryptoasset exposures.
The FDIC launched a new Mission-Driven Bank Fund that will support insured Minority Depository Institutions and Community Development Financial Institutions by directing private capital investment into them to, in turn, allow them to further benefit the minority, lower income and rural communities they serve.