Former Equifax CEO Richard F. Smith testified before two separate Congressional committees on the Equifax cybersecurity breach and the company's subsequent response and remedial efforts.
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The Consumer Financial Protection Bureau adopted a final rule to "create consumer protections for certain consumer credit products" by instituting "ability-to-repay protections."
The U.S. Department of the Treasury released a report recommending actions to reduce certain tax regulatory burdens. "Pending enactment of tax reform," Treasury recommended retaining core elements of related party debt regulations on tax-free stock distributions.
The Federal Trade Commission and the Department of Justice released the Hart-Scott-Rodino Annual Report for fiscal year 2016.
CFTC Commissioner Brian Quintenz explained CFTC efforts to facilitate FinTech development and promised a "reset" of the CFTC's approach to regulating algorithmic trading.