FDIC Chair Jelena McWilliams identified actions by prudential regulators that can empower "mission driven banks" including minority depository institutions and community development financial institutions.
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.
The U.S. House Financial Services Committee passed legislation to advance racial equity in the financial system, improve consumer protections against abusive debt collection practices and enhance public company disclosures.
The FDIC proposed a rule to strengthen the agency's enforcement authority against "any person or organization from making misrepresentations about FDIC deposit insurance or misusing the FDIC’s name or logo."
The U.S. House Financial Services Subcommittee on Consumer Protection and Financial Institutions held a hearing to consider proposed legislation on novel financial institution charters such as industrial loan companies, as well as state charters and licenses for cryptocurrency and blockchain firms.
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.