Washington Report 360 | August 2, 2019
Washington Report 360 | August 2, 2019
Insight

Washington Report 360 | August 2, 2019

Recent data breaches; Community Reinvestment Act; Fed could move forward with a faster payments system.

Key highlights

  • Recent data breaches highlight concerns over cyber threats, including data security and cloud security, as well as consumer protections related to fraud and credit reporting. The Federal Reserve is examining cloud security and the FTC is encouraging consumers harmed by a data breach to accept free credit monitoring offers.
  • The FDIC Chair projected that a joint proposal on the Community Reinvestment Act would be released in the “next few months.”
  • The Federal Reserve is “seriously considering” moving forward with a faster payments system that would compete with a private sector system developed by financial institutions.

Financial services regulatory and policy news

Banking

Consumer

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