Washington Report 360 | January 20, 2023

Weekly collection of regulatory activity in Washington D.C.


Financial services regulatory news
  • Speech on public trust in the crypto industry
  • Remarks on revisions to the Criminal Division’s Corporate Enforcement Policy
  • Charged owner of a cryptocurrency exchange with processing illicit funds; associated remarks here and FinCEN announcement here
  • Announced updates to Fannie Mae and Freddie Mac’s single-family pricing framework
  • Launched its pilot climate scenario analysis exercise; released participant instructions  
  • Survey results for Senior Financial Officers management of reserve balances
  • Speech on the economic outlook
  • Letter to Congressional leadership on reaching the debt limit and employing “extraordinary measures” to avoid default

Industry news headlines

(Some links may require subscription)

America’s Biggest Banks Are Girding for a Recession but Aren’t Feeling One Yet (WSJ)

Banks slated to face record operational costs this year (Bloomberg)

Global economic outlook may be less bad – but we’re still not in a good place, IMF chief says (CNBC)

Fed will face tough choices the longer debt ceiling impasse persists – analysts (Reuters)

Regulators willing to break up repeat-offender banks, acting comptroller says (American Banker)

Surveillance Program on Money Transfers Raises Privacy Concerns (WSJ)

CFPB says servicers should offer loss mitigation beyond COVID hardships (American Banker)

IFRS Chair: Global sustainability and climate reporting standards [ISSB] to be released in June  (ESG Today)

Bank of America CEO says new ESG rules are needed to reboot capitalism (CNBC)

Factbox: Crypto's string of bankruptcies (Reuters)

Contact us 

Amy S. Matsuo

Amy S. Matsuo

Regulatory and ESG Insights Leader, KPMG US

+1 919-664-7100