The Federal Reserve today released the three economic and financial market scenarios that it will use in the next round of the Comprehensive Capital Analysis and Review process for the nation’s largest financial institutions and foreign firms with U.S. operations
The Consumer Financial Protection Bureau will likely issue a rule to define what kinds of practices it considers “abusive” under the Dodd-Frank Act, providing greater clarity to the controversial UDAAP standard created by the statute, Acting Director Mick Mulvaney said today.
In remarks at ABA’s Summer Leadership Meeting in Salt Lake City today, Federal Reserve Vice Chairman for Supervision Randal Quarles signaled that the Fed would act sooner than required by S. 2155 to tailor prudential standards for banks between $100 billion and $250 billion in assets.
The Federal Reserve will move to implement the provisions of S. 2155 — the new regulatory reform law — as quickly as possible, Federal Reserve Chairman Jerome Powell said in testimony before the Senate Banking Committee today.
The largest U.S. banks collectively showed that they can withstand a severe economic downturn and continued to improve their capital positions, according to the results of Dodd-Frank Act-mandated stress tests the Federal Reserve released yesterday.
The Federal Reserve Board today approved a final rule limiting the amount of credit exposure that the nation’s largest banks can have to each other and to other counterparties.
President Trump today signed S. 2155 — which was passed earlier this week by a bipartisan majority in the House — into law.
Ahead of the House vote today that will determine the fate of S. 2155 — the bipartisan Senate regulatory reform package — ABA President and CEO Rob Nichols said that the bill “is a huge, important step forward — we hope the first of additional steps — to modernize and appropriately tailor the supervisory framework.”