In a new blog post this week, the CFPB said it is “looking to use a long-dormant authority” under Dodd-Frank Act Section 1033, which relates to consumer access to financial records, “to help spur better credit card shopping and switching by proposing rules that give consumers more control of their financial data.”
Department of Agriculture Sec. Tom Vilsack testified before the House Agriculture Committee on the state of the rural economy and the upcoming reauthorization of the farm bill.
As expected, President Biden today nominated Sarah Bloom Raskin to serve as vice chair for supervision at the Federal Reserve Board of Governors.
A group of financial trade associations led by ABA today urged the CFPB to conduct a study of consumers’ preferences on overdraft and release the findings for public comment before undertaking any additional actions related to overdraft practices.
With regulatory scrutiny of climate change-related risks growing, Federal Reserve Governor Lael Brainard promised today that the Fed’s climate risk supervision will not include directives for banks not to lend to specific industries like oil and gas.
The pace of innovation in crypto is exciting and industry growth is an opportunity for banks but regulation is needed, OCC head says.
Federal Housing Finance Agency Acting Director Sandra Thompson, President Biden’s nominee to lead the agency on a permanent basis, today told lawmakers that Congress must determine whether and how Fannie Mae and Freddie Mac will exit conservatorship.
Climate change stress tests will “be a key tool going forward,” Federal Reserve Chairman Jerome Powell told members of the Senate Banking Committee today.
ABA told the Securities and Exchange Commission on Friday that proposed new disclosure rules for the reporting of securities loans would impose a “considerable expense” to institutional investors and their agent lenders engaging in securities lending activities and urged reasonable amendments to reduce reporting burdens.