- Agencies issue proposals and statements to drive prioritization to climate risk, financial inclusion, COVID-19 relief measures (including forbearance) and affordable housing.
- CFPB proposes temporary changes to mortgage servicing rules to help stave off potential COVID-19-related foreclosures.
- CFPB proposes 60-day review delay (to 01/29/2022) for two debt collection rules passed in 2020.
- Treasury encourages financial institutions to “credibly align their portfolios and strategies with the objectives of the Paris Agreement.”
Financial services regulatory and policy news
- Published an economic research paper looking at COVID-19 as a stress test of the bank regulatory framework
- Sought public comment on a proposal to automate non-merger-related adjustments to member bank subscriptions to FRB capital stock
- Launched a targeted #GetBanked campaign addressing financial inclusion
- Proposed a set of temporary rule changes intended to help prevent COVID-19-related foreclosures
- Proposed to delay the effective date of two debt collection rules
- Released a blog post on mortgage servicer methods of communicating with borrowers
- Issued a notice of substituted compliance for the UK regarding security-based swaps regulation
- Released a podcast on COVID-19-related adjustments to its exam and risk monitoring program
- Announced technical modifications to certain TRACE dissemination protocols
- Added new FAQs related to FINRA Rule 3130, Annual Certification of Compliance and Supervision Processes
- Members of both houses participated in the inaugural meeting of the Community Development Finance Advisory Group
- Spoke about the threat of climate change
- Announced $5 billion awarded to states and other localities for affordable housing, $36 million for public housing programs
- Updated G20 members on COVID-19 support measures and a roadmap to address climate-related financial risks; related report
- Initiated a survey related to continuity of access to FMIs for firms in resolution
- Held the first meeting of its Sustainable Finance Study Group
- Planned a special session on severe convective storms at its 2021 Spring National Meeting
Industry news headlines
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- Five Banks To Test FedNow Real-Time Payments System (PYMNTS.com)
- 6 things banks, community groups want in next phase of CRA reform (American Banker)
- Yellen Pushes for Global Minimum Tax Rate on Multinational Corporations (WSJ)
- What Makes an Investment “Green”? The EU Wants an Answer (WSJ)
- What Supreme Court's robocall decision means for banks, credit unions (American Banker)
- U.S. cryptocurrency regulatory path appears long and complex (Reuters)
- AI in banking: Where it works and where it doesn't (American Banker)
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