Washington Report 360 | April 28, 2023

Interagency

• Joint statement on enforcement and supervision of “automated systems” (FTC, DOJ, CFPB, and EEOC)
• Revised Interagency Policy Statement on Allowances for Credit Losses (FRB, FDIC, OCC, and NCUA)
• Joint statement on completing the LIBOR transition (FRB, FDIC, OCC, CFPB, and NCUA) 
  

CFPB

• Advisory opinion on Fair Debt Collection Practices Act (Regulation F); Time-Barred Debt; related speech (Director)
• Speech on Interagency Enforcement Policy Statement on “AI" (Director)

CFTC

• Speech on illicit finance and other key risks of digital assets
• Enforcement action against 14 entities alleging fraudulent registration claims

FDIC 

• Supervisory Guidance on charging overdraft fees for APSN transactions

FRB

• Initial findings from 2022 triennial payments study (including use of noncash payments, checks, cards, and the ACH)

FSB

• Statement on final preparations for LIBOR transition

• Enforcement actions against:
  • Debt collection company for allegedly engaging in deceptive/misleading debt collection practices
  • Company for allegedly engaging in deceptive marketing

HUD

• ANPRM on updates to Section 504 Regulation (Nondiscrimination on the Basis of Disability)

• Global Insurance Market report (GIMAR) on cyber insurance coverage and cyber resilience risks and trends analysis

• Guidance on Overdraft Protection Programs

• Risk Alert on Safeguarding Customer Records and Information at Branch Offices

• AML/CFT “De-Risking Strategy”; related “Fact sheet”
• FSOC:
  • Proposed analytic framework for financial stability risks
  • Proposed guidance on designation of nonbank financial companies
• FinCEN:
  • FY 2022 in review
  • Renewal and expansion of Real Estate Geographic Targeting Orders

• Statement on Executive Order on Environmental Justice

• Banking Committee hearing on the Oversight of the Credit Reporting Agencies

• Financial Services Subcommittee hearings on:
  • Oversight of FinCEN and the Office of Terrorism and Financial Intelligence (TFI)
  • The Future of Digital assets