Senate Banking Committee Chair Sherrod Brown (D-OH) introduced the "Close the Shadow Banking Loophole Act," which would subject industrial loan companies to the same rules and consumer protections as traditional banks under the supervision of the Federal Reserve.

Federal Reserve Board Vice Chair for Supervision Michael S. Barr outlined the elements of the board's "holistic" review of capital standards, and emphasized the importance of sufficient bank capital with respect to financial stability.

A telecommunications company settled SEC charges for violating rules on fair disclosure by selectively sharing company performance data that was material to investors.

Acting OCC Comptroller Michael J. Hsu said that he expects banks to improve credit risk management practices under the new "current expected credit losses" standard.

NFA issued guidance reminding CPOs and CTAs that failure to affirm an active exemption from registration will result in the exemption being withdrawn on March 2, 2023.