- CFPB Acting Director outlined a third set of immediate priorities under the new Administration focusing on consumer experiences, especially economically vulnerable consumers impacted by COVID-19 such as service members, Black/Brown/Indigenous communities, and individuals at risk of foreclosure or eviction.
- HUD announced it will enforce the Fair Housing Act to prohibit discrimination on the basis of sexual orientation and gender identity, consistent with the President’s executive order.
Financial services regulatory and policy news
- Released a tool for banks to evaluate their preparedness for the transition from LIBOR
- Released a podcast about “Augmenting the Exam and Risk Monitoring Program with Data Analytics and Technology”
- Urged firms to review their policies and procedures related to red flags of potential securities fraud involving low-priced securities
- Made changes to improve the PPP including changes addressing the speed of resolution for data mismatches and eligibility concerns
- Provided the annual update on size-of-transaction thresholds for premerger notification filings and interlocking directorates
- Extended the foreclosure and REO eviction moratoriums and COVID forbearance period
- Further extended COVID-related loan flexibilities
- Announced it will enforce the Fair Housing Act to prohibit discrimination on the basis of sexual orientation and gender identity; supporting Congressional and industry response
- NY FRB:
- Announced a new cash investment manager for the SMCCF
- NY DFS:
Industry news headlines
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- Acting CFPB head calls out industry for slow complaint response times (American Banker)
- Tough choice for next OCC chief: Erase or redefine 'fair access' rule (American Banker)
- Imminent Libor pre-cessation will be watershed moment (Practice Insight)
- Hedge Funds risk Biden-era end to money-laundering loophole (Bloomberg)
- What Biden’s infrastructure plan could mean for banks (American Banker)
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