Key Highlights
- Insider trading. SEC proposed amendments to rules governing insider trading and share repurchase disclosure. See KPMG Regulatory Alert
- Resilience: SEC proposed rules to money market fund management and liquidity rules intended to improve resilience and transparency. See KPMG Regulatory Alert
- Complaints: CFPB noted a decline in the largest consumer reporting companies’ complaints handling and resolution processes, citing fewer meaningful, substantive responses and relief.
Financial services regulatory and policy news
Banking
- Federal Banking Agencies (FRB, OCC, and FDIC):
- Revised CRA thresholds for small and intermediate small bank and savings associations. FRB and FDIC statement. Associated OCC announcement
- Released 2020 small business, small farm, and community development lending data
- FRB:
- Issued an update to its Payments Study for results of a survey on card payments
- OCC:
- Updated the Other Real Estate Owned portion of the Comptroller’s Handbook
- FDIC:
- Chairman McWilliams announced her resignation
- CFPB:
- Published reports on:
- Consumer finances during pandemic. Associated blog post here
- Consumer complaint response deficiencies by consumer reporting companies. Associated press release here and blog post here.
- Published reports on:
Capital Markets
- CFTC:
- Issued three revised no-action letters on market participants transitioning from LIBOR
- Issued a no-action letter on reporting requirements for swaps transitioning from LIBOR
- Extended a no-action letter on daily reporting requirements for derivatives clearing organizations
- FINRA:
- Issued a regulatory notice on business continuity planning and lessons from the pandemic
Other
- Treasury:
- FinCEN released an analysis revealing upward trend in SARs of wildlife trafficking
- Department of Justice:
- Solicited additional public comments on bank merger competitive analysis
- U.S. Senate Banking Committee:
- Held a hearing on how CDFIs support underserved communities
- FHFA:
- Issued final rule on single-family and multifamily housing goals
Industry news headlines
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