Washington Report 360 | September 20, 2019

Key Highlights

• DOJ will consider a company’s use of data analytics to analyze or track potential misconduct as part of the agency’s compliance reviews and investigations.
• FDIC and OCC proposed revisions to the margin and capital requirements for certain swaps entities; FRB, FHFA, and Farm Credit to also approve.
• DOJ and CFPB asked the Supreme Court to take up a lawsuit anticipated to focus on the CFPB’s single director and the director removal for-cause restriction.

Financial services regulatory and policy news

Banking

• FDIC and OCC proposed revisions to margin and capital requirements for certain swaps; FRB, Farm Credit Administration, and FHFA to approve separately
  FDIC, September 17, 2019
• FDIC approves final rules implementing the Community Bank Leverage Ratio Framework; FRB and OCC to follow
  FDIC, FRB, OCC, September 17, 2019
• OCC guidance outlines registration requirements for appraisal management companies
  OCC, September 16, 2019
• CFPB Report: Supervisory Highlights, Summer 2019
  CFPB, September 13, 2019
• CFPB Report: Credit Characteristics, Credit Engagement Tools, and Financial Well-Being
  CFPB, September 9, 2019
• FDIC Report: Summary of Deposits Survey
  FDIC, September 13, 2019
• CFPB to continue publication of its Complaints Database with enhancements to disclosures
  CFPB, September 18, 2019

Capital Markets

• SEC finalized recordkeeping and reporting requirements for security-based swap dealers, major security-based swap participants, and broker-dealers
  SEC, September 19, 2019
• SEC proposes updates to statistical disclosures by banking registrants
  SEC, September 17, 2019
• CFTC finalized a rule on position limits and position accountability for security futures products
  CFTC, September 16, 2019
• FINRA to expand summary firm data on OTC equity trading
  FINRA, September 13, 2019
• FINRA provides Q&A on communications with customers
  FINRA, September 19, 2019
• Report: BIS triennial survey of foreign exchange and OTC derivatives markets
  BIS, September 18, 2019

Other

• DOJ to consider data analytics in compliance reviews
  DOJ, September 12, 2019
• Treasury proposes regulations for national security reviews of foreign investments and other transactions in the U.S.
  Treasury, September 17, 2019
• BIS hosted a conference for public authorities on stablecoins
  BIS, September 16, 2019
• BIS Working Paper: Embedded supervision: how to build regulation into blockchain finance
  BIS, September 16, 2019

Industry news

• DOJ and CFPB ask Supreme Court to take up a lawsuit challenging the constitutionality of the CFPB
  The Hill, September 17, 2019
• ARRC releases implementation checklist for SOFR adoption
  New York FRB, ARRC, September 19, 2019
• Why Some Banks Are Ditching Their State Regulators  
  WSJ, September 18, 2019
• New York regulatory voices objections to CFPB regarding debt collection proposal
  American Banker, September 19, 2019
• Capital One set to launch new Walmart credit card
  American Banker, September 19, 2019