Browsing: Federal Reserve

Newsbytes Fed issues guidance for banks seeking to leap into crypto

In a supervisory letter issued yesterday, the Federal Reserve said that Fed-supervised banks seeking to engage in activities related to cryptocurrency and other digital assets must first assess whether such activities are legally permissible and determine whether any regulatory filings are required.

Newsbytes Bowman raises concerns about proposed CRA changes

A proposed overhaul of Community Reinvestment Act regulations does not adequately account for the costs and benefits of certain provisions in the draft rule, Federal Reserve Governor Michelle Bowman opined during a speech to the Kansas Bankers Association on Saturday.

Newsbytes Trade groups: Proposed CRA changes do not accomplish modernization goals

The American Bankers Association and 51 state banking associations submitted comments today on the banking agencies’ proposed overhaul of the Community Reinvestment Act regulations, saying said that while they support the effort in principle, there were multiple flaws in the proposed rule that ultimately worked against the agencies’ stated goals.

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