The House Financial Services Committee considered Financial Stability Oversight Council recommendations to mitigate risks in the financial markets and testimony by Treasury Secretary Steven Mnuchin.
The Federal Reserve Board reported on the strength of the banking system and the economic impact of the pandemic on borrowers.
New York Fed Executive Vice President Kevin Stiroh described the complexity of climate change risk and the challenges facing climate change risk managers.
Federal Reserve Board Governor Lael Brainard emphasized the importance of preparing the U.S. financial system to deal with the challenges of climate change.
House Financial Services Committee Chair Maxine Waters and 22 other Committee members urged the OCC to withdraw the "fair access to financial services" Notice of Proposed Rulemaking.