WORD OF THE DAY® – Clean-Up Call
March 6, 2025- U.S. Committee on Banking, Housing and Urban Affairs Chair Tim Scott (R-S.C.) led legislation that would eliminate the ability for federal regulators to use reputational risk as a component of supervision....more
February 6, 2025- Federal Reserve Board Vice Chair Philip N. Jefferson gave a speech entitled, “Do Non-inflationary Economic Expansions Promote Shared Prosperity? Evidence from the U.S. Labor Market,” at Swarthmore...more
January 18, 2024- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, "National Security Challenges: Outpacing China in Emerging Technology."...more
October 19, 2023- The Consumer Financial Protection Bureau proposed a rule that would accelerate a shift toward open banking, where consumers would have control over data about their financial lives and would gain new...more
September 28, 2023- The U.S. House Committee on Small Business Subcommittee on Rural Development, Energy, and Supply Chains held a hearing titled "Energy Independence: How Burdensome Energy Regulations are Crushing Small...more
September 20, 2023- Federal Deposit Insurance Corporation Chairman Martin J. Gruenberg addressed The Exchequer Club in Washington, DC on the financial stability risks of nonbank financial institutions....more
July 26, 2023- The Department of Justice, Department of Commerce's Bureau of Industry and Security (BIS), and the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued a joint compliance note focusing...more
July 13, 2023- The Bank Policy Institute, American Bankers Association, Financial Services Forum, Institute of International Bankers and Securities Industry and Financial Markets Association submitted a letter to Federal...more
June 21, 2023- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a nomination hearing on the following nominations: •The Honorable Philip Nathan Jefferson, of North Carolina, to be Vice Chairman of the...more
May 23, 2023- The U.S. House Committee on Financial Services held a hearing entitled, "FHFA Oversight: Protecting Homeowners and Taxpayers." •Hearing- •Committee Memorandum- •Committee Vice Chair Hill Statement- ...more
April 19, 2023- The U.S. House Committee on Financial Services Subcommittee on Digital Assets held a hearing entitled, "Understanding Stablecoins' Role in Payments and the Need for Legislation."...more
September 29, 2022- The U.S. Treasury's Financial Crimes Enforcement Network issued a final rule establishing a beneficial ownership information reporting requirement, pursuant to the bipartisan Corporate Transparency Act....more
July 29, 2022- The Federal Deposit Insurance Corporation published a fact sheet entitled, "What the Public Needs to Know About FDIC Deposit Insurance and Crypto Companies." The FDIC also issued a Financial Institution...more
June 30, 2022- The Task Force on Financial Technology held a hearing entitled, "Combatting Tech Bro Culture: Understanding Obstacles to Investments in Diverse-Owned Fintechs."...more
Major Developments- Federal Reserve Board- Federal Reserve Board releases results of annual bank stress test- June 23, 2022- The Federal Reserve Board released the results of its annual bank stress test....more
Congress- U.S. Senate- Committee on Banking, Housing, and Urban Affairs- Hearing: Considering the Index Fund Voting Process-...more
In This Issue: - Meeting of the SEC Advisory Committee on Small and Emerging Companies - FINRA Requests Comment on a Proposed Rule to Require Delivery of an Educational Communication to Customers of a Transferring...more