Washington Report 360 | February 22, 2019
Washington Report 360 | February 22, 2019
Insight

Washington Report 360 | February 22, 2019

U.S. House scheduled committee hearings next week on credit bureau accountability and diversity within the financial services industry.

Key highlights

The House Financial Services Committee has scheduled hearings next week on credit bureau accountability and diversity within the financial services industry.

Financial services legislative and regulatory news

The House Financial Services Committee will hold hearings on credit bureau accountability and diversity in the financial services industry.

The SEC proposed to expand its “test-the-waters” accommodation to all issuers; the accommodation permits issuers to discuss a prospective offering with certain investors ahead of filing a registration statement.

The Federal Reserve, FDIC, and OCC extended the comment period on their proposal for measuring counterparty credit risk posed by derivatives contracts.

The Federal Reserve extended the comment period on its proposed rule amending the applicable asset threshold for company-run stress tests and supervisory stress tests consistent with EGRRCPA.

The FDIC extended the comment period on its request for information related to the deposit insurance application process.

The FTC published annual updates for the asset thresholds applicable to pre-merger notification filings and interlocking directorates pursuant to the Clayton Act.

Financial services policy news

An SEC Commissioner published an opinion article calling on the SEC to study conflicts of interest related to index funds and to provide recommendations to Congress. (NYTimes)

The FDIC’s Inspector General issued a report citing enhanced oversight of banks’ cybersecurity risks and adapting to financial technology innovation among the agency’s top management challenges.

The FHA expanded its pilot program for streamlining FHA mortgage insurance applications related to affordable housing developments to include new construction and substantial rehabilitation projects.

The Federal Reserve Banks of New York and Atlanta will hold the First Annual Joint Research Day on quantitative tools for monitoring macroeconomic and financial conditions, including big data, web data, and “google trends.”