Bipartisan members of the House Financial Services Committee introduced a bill that would require the Financial Stability Oversight Council to explore and rule out alternative regulatory approaches before designating nonbank financial institutions as systemically important.

In a 48-46 vote, the Senate confirmed Federal Reserve Governor Michelle Bowman as Vice Chair for Supervision. The position was previously held by Fed Governor Michael Barr.

SEC Commissioner Caroline A. Crenshaw criticized recent Commission statements on the classification of crypto assets.

The Federal Reserve lifted an asset growth restriction imposed on a bank under a 2018 Consent Order.

A firm settled FINRA charges for supervisory deficiencies concerning the use and dissemination of consolidated reports. FINRA stated that consolidated reports present a summary of a customer's financial assets, including those held outside the firm.