Fair Lending Shake-Ups: CFPB Vacates Townstone Settlement, FHFA Ends GSEs' Special Purpose Credit Programs — The Consumer Finance Podcast
On August 12, the U.S. Court of Appeals for the Federal Circuit affirmed a lower court’s dismissal of a shareholder suit brought by two stockholders. The two plaintiff stockholders held interests in both Fannie Mae and...more
December 30, 2024- U.S. Senate Banking, Housing and Urban Affairs Committee Ranking Member Tim Scott (R-S.C.) released his 2024 Year-in-Review and Oversight Report for the 118th Congress, highlighting Banking Committee...more
On December 17, U.S. House Financial Services Committee leaders warned the Biden administration’s agencies to refrain from making any additional “partisan” rulemaking over the several weeks remaining before the transition to...more
December 23, 2024- In view of the evolving legal landscape, the Board of Governors of the Federal Reserve System announced it will soon seek public comment on significant changes to improve the transparency of its bank...more
December 19, 2024- The U.S. Department of the Treasury released a report following the issuance of its 2024 Request for Information on the Uses, Opportunities, and Risks of Artificial Intelligence in Financial Services,...more
December 17, 2024- The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), and the incoming Chairman and current Committee Vice Chair, French Hill (AR-02), sent letters to the outgoing Biden...more
November 13, 2024 - Assistant Secretary for Economic Policy Eric Van Nostrand gave remarks on U.S. business investment in the post-COVID expansion. November 13, 2024 - The Office of Financial Research published a brief...more
On November 1, the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) and the FHFA announced the creation of a working group to increase capital for affordable housing lending from the FHLBs. ...more
October 31, 2024- Members of the U.S. House Committee on Financial Services sent a letter to federal banking regulators at the Federal Reserve Board (FRB), Office of the Comptroller of the Currency (OCC), and Federal...more
October 28, 2024 - The U.S. Department of the Treasury today announced its current estimates of privately-held net marketable borrowing for the October–December 2024 and January–March 2025 quarters....more
September 26, 2024 - The U.S. Department of the Treasury is undertaking actions as part of a coordinated international effort to disrupt Russian cybercrime services. Treasury’s Financial Crimes Enforcement Network (FinCEN)...more
The U.S. House Committee on Financial Services Subcommittee on Financial Institutions and Monetary Policy held a hearing entitled “Regulatory Recipe for Economic Uncertainty: The Endless Basel Endgame and an Onslaught of...more
August 9, 2024 - The U.S. Department of the Treasury, Federal Reserve Board, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Securities and Exchange Commission, Commodity Futures Trading...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
July 2, 2024- The EU–U.S. Joint Financial Regulatory Forum took place on June 25-26, 2024, with participants exchanging views on topics of mutual interest as part of their regular financial regulatory dialogue. The...more
June 24, 2024 - U.S. Secretary of the Treasury Janet L. Yellen gave remarks on housing policy and announcing new efforts by the Treasury Department using its existing authorities to increase the supply of housing....more
May 23, 2024- The U.S. House of Representatives passed H.R. 5403, the CBDC Anti-Surveillance State Act, prohibiting the issuance of a U.S. Central Bank Digital Currency. May 23, 2024- U.S. House Financial Services...more
May 16, 2024- The U.S. Department of the Treasury issued the 2024 National Strategy for Combatting Terrorist and Other Illicit Financing (2024 Strategy), which provides a blueprint of the U.S. government’s goals,...more
May 15, 2024- The U.S. House Committee on Financial Services held a hearing entitled, “Oversight of Prudential Regulators.” The Committee heard testimony from: the Honorable Michael Barr, Vice Chairman for Supervision,...more
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated one Russian individual and three Russia-based companies involved in an attempted sanctions evasion scheme in which an opaque and complex...more
Editor's Note The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically...more
April 23, 2024- The Commodity Futures Trading Commission (CFTC) approved final rules to amend its swap execution facility (SEF) regulations related to uncleared swap confirmations to address issues which have been...more
April 17, 2024- The U.S. Department of the Treasury released Treasury International Capital (TIC) data for February 2024. April 17, 2024- The Federal Reserve Bank of New York published a Liberty Street Economics blog...more
April 11, 2024- U.S. House Financial Services Committee Chairman Patrick McHenry (R-NC) and U.S. Representative Brittany Pettersen (D-CO) introduced the bipartisan Ransomware and Financial Stability Act....more
March 25, 2024- The Department of the Treasury's Office of Foreign Assets Control (OFAC) sanctioned thirteen entities and two individuals for operating in the financial services and technology sectors of the Russian...more