Reform of the CRA; FINRA 2020 risk monitoring & examination priorities; LIBOR transition; Heightened concern for cyber threats
Key Highlights
The FRB encouraged public comment on an approach to reform of the CRA implementing regulations outlined in a speech; an interagency standard remains the goal.
FINRA released its 2020 risk monitoring and examination priorities.
Continued regulatory concern over LIBOR transition seen as banking regulators seek evidence of institutions’ preparation.
Heightened concern for cyber threats against financial institutions (NY DFS statement, Congressional letter).