Insight

Washington Report 360 | January 31, 2020

Banking agencies Volcker amendments; CFPB on UDAAP; SEC on cybersecurity/operational resiliency; FRB climate related risks statement

Amy S. Matsuo

Amy S. Matsuo

National Leader, Regulatory Insights, KPMG US

+1 919-664-7302

Key Highlights

  • The FRB, FDIC, and OCC each approved a joint proposed rule that would amend the covered provisions of the Volcker Rule; the agencies finalized certain other amendments to the Volcker Rule in September 2019.
  • CFPB released a policy outlining how it will apply the “abusiveness standard” under the prohibitions against unfair, deceptive, or abusive acts or practices (UDAAP).
  • SEC published examination observations and best practices related to cybersecurity and operational resiliency.
  • Heightened attention to climate-related risks evidenced by FRB statement that it is likely to join the Network for Greening the Financial System, which is comprised of central banks and other institutions.

Financial services regulatory and policy news

Banking

Capital markets

Other

Industry news


Related content