Quarles on stress capital buffer rule; FRB enterprisewide capital requirement framework; Treasury/HUD housing finance reform plans.
FRB Governor Quarles suggests that portions of the proposed stress capital buffer rule not be included in the final rule and introduces two new “co-equal” options.
FRB proposed an enterprise-wide capital requirement framework (“Building Block Approach”) for holding companies significantly engaged in insurance activities.
A recent SEC enforcement action may highlight considerations relative to the new Best Interest rules.
Treasury and HUD have each submitted plans for housing finance reforms, including recommendations to end conservatorship of the GSEs. The Senate Banking Committee will hold its hearing on September 10.
FTC announced a settlement with two technology companies for alleged violations of the Children’s Online Privacy Protection Act (COPPA) and will be seeking continued public comment on COPPA at a public workshop in October.