The Securities and Exchange Commission (SEC) finalized its rule aimed at standardizing disclosures made by public companies regarding cybersecurity risk management, strategy, governance and incidence reporting. In line with SFA’s advocacy and recommendations, the Commission...
Read MoreBloomberg writes that a key feature of U.S. version of Basel III banking standards—which is set to be released on July7—will be risk weights for mortgages that would be 20% higher than the minimum Basel...
Read MoreOn July 18, the HFSC Capital Markets Subcommittee held a hearing with Erik Gerding, Director of the SEC’s Division of Corporation Finance, serving as the sole witness. The SEC’s Conflicts of Interest proposed rule was...
Read MoreIn a speech on July 18, Federal Reserve Vice Chair Barr voiced concerns regarding the use of artificial intelligence (AI) in mortgage underwriting. Barr stressed the importance of transparency in AI modelling and programs to...
Read MoreBank regulators are considering an increase in capital requirements as result of the implementation of Basel III, recent turmoil in the sector, and a new comprehensive assessment initiated by Federal Reserve Vice Chair Barr. Increased...
Read MoreTo address ongoing commercial real-estate (CRE) concerns, the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency, and the National Credit Union Administration released a joint policy statement on CRE...
Read MoreOn June 22, the FHFA issued a fact sheet outlining new sale and reporting requirements for non-performing and reperforming loans (NPLs and RPLs) sold by Fannie Mae and Freddie Mac (Enterprises). The fact sheet presents...
Read MoreIn an extensive report released on June 27, the U.S. Department of Treasury called on insurers and state regulators to ramp up their efforts to evaluate risks posed by climate change. The report stating that...
Read MoreOn June 21 and 22, Jerome Powell, the Chair of the Federal Reserve, testified before Congress on the Federal Reserve's semi-annual monetary policy report. Members from both the Republican and Democratic parties directed their attention...
Read MoreThis week, CFPB Director Rohit Chopra testified on the recent actions and expected future rulemakings of the CFPB before the Senate Banking Committee (SBC) and House Financial Services Committee (HFSC). Vocal support during the hearing...
Read MoreOn June 13, the Office of Information and Regulatory Affairs (OIRA) published its Spring 2023 Unified Agenda of Regulatory Actions, which is a comprehensive list of actions federal agencies plan to pursue. Released on a semiannual...
Read MoreEnforcement actions have declined during Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra’s leadership, with only five actions filed thus far in 2023, compared to 20 in 2022. Chopra has shifted focus towards supervising banks...
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