The Committee on Foreign Investment in the United States extended by one year the effective date for one of the criteria under the definitions of "Excepted Foreign State" and "Excepted Real Estate Foreign State."
The U.S. District Court for the Eastern District of Washington approved a Consent Order in a CFTC action against a cattle supplier who allegedly made false representations to the Chicago Mercantile Exchange "concerning its cattle inventory, purchases, and sales" and violated exchange-set position limits.
The CFPB ordered five companies to provide information regarding their "buy now, pay later" credit programs. The CFPB expects to publish findings on the risks of these programs concerning accumulation of debt, regulatory arbitrage and data harvesting.
In testimony before the House Financial Services Committee and the Senate Banking Committee, CFPB Director Rohit Chopra prioritized (i) stimulating competition in the consumer financial markets, (ii) action against repeat offenders of agency and court orders, and (iii) restoring relationship banking to protect consumers "in an era of big data."