Washington Report 360 | September 06, 2019

Quarles on stress capital buffer rule; FRB enterprisewide capital requirement framework; Treasury/HUD housing finance reform plans.

Key Highlights

  • 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.

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