Commentary by Daniel Meade
In remarks before the Consumer Federation of America's 34th Annual Financial Services Conference, Acting OCC Comptroller Michael Hsu identified changes to banks' overdraft programs that would benefit lower-income individuals.
In a 415-9 vote, the U.S. House of Representatives passed the Adjustable Interest Rate (LIBOR) Act of 2021. The LIBOR Act will now move to the Senate for consideration.
An SEC final rule amending certain annual reporting and registration forms to implement disclosure requirements under the Holding Foreign Companies Accountable Act will go into effect on January 10, 2022.
Comments on an FTC proposal to amend certain reporting requirements to safeguard customer information are due by February 7, 2022.
An FTC final rule to strengthen data security measures to further protect consumer financial data goes into effect on January 10, 2022. Certain provisions are extended until December 9, 2022 to allow financial institutions more time to modify their information security programs to comply with the new requirements.