Commentary by Steven Lofchie
Senate Banking, Housing, and Urban Affairs Committee Ranking Member Tim Scott (R-SC) and House Financial Services Subcommittee on Oversight and Investigations Chair Bill Huizenga (R-MI) requested that CFPB Director Rohit Chopra provide details on the "major data breach" that occurred at the agency.
The Investment Company Institute reiterated “significant concerns” after the DOL reopened the comment period on the Employee Benefits Security Administration’s proposed amendments to the Qualified Professional Asset Manager Exemption.
At a House Financial Services Subcommittee on Capital Markets hearing, witnesses raised concerns about access to capital and barriers to going public.
The CFTC revised post-initial appropriate minimum block sizes and post-initial cap sizes for publicly reportable swap transactions. The revised thresholds will go into effect on December 4, 2023.
The FDIC recommended no changes to the "Amended Restoration Plan," a statutory requirement to ensure that the Deposit Insurance Fund reserve ratio does not fall below certain minimums. The FDIC reported that the reserve ratio is expected to meet its 1.35 percent minimum requirement ahead of a September 30, 2028 deadline.