On March 5, fifty-one Democratic lawmakers, led by Senator Elizabeth Warren (D-MA), submitted a letter to the Securities and Exchange Commission (SEC), urging SEC Chair Gary Gensler to finalize the 2022 proposed climate change disclosure rule that...
Read MoreOn February 22, Chairman of the House Financial Services Committee (HFSC) Patrick McHenry (R-NC), alongside Ranking Member of the Senate Banking Committee, Senator Tim Scott (R-SC), and Chairman of the House Subcommittee on Oversight and...
Read MoreCFPB Proposes Rule to Curb Excessive Credit Card Late Fees On February 1st, the Consumer Financial Protection Bureau (CFPB) proposed a new rule that aims to address what the CFPB believes are excessive credit card...
Read MoreCFPB Proposes Rule Aimed at Non-Negotiable Contracts of Nonbanks On January 11, the Consumer Financial Protection Bureau (CFPB) proposed a new rule that would require nonbanks to provide information regarding the terms and conditions they...
Read MoreSEC Appoints New Director of Division of Corporation Finance On January 13, the Securities and Exchange Commission (SEC) announced the appointment of Erik Gerding as the Director of the Division of Corporation Finance, following Renee...
Read MoreChair Powell Addresses Fed’s Stance on Climate Policy At the Symposium on Central Bank Independence, Federal Reserve Chair Jerome Powell emphasized his stance that climate change is not in the direct purview of the Fed’s...
Read MoreCFPB’s Latest Rulemaking Agenda Includes Focus on Fees The Consumer Finance Protection Bureau (“CFPB”) has released their latest rulemaking agenda which is aimed at reducing bank fees, to include overdraft, nonsufficient funds, and credit card...
Read MoreCFPB Creates New “Repeat Offender” Unit By developing a “repeat offender unit” Rohit Chopra, the Director of the Consumer Financial Protection Bureau (CFPB), has taken a hard-lined stance towards large banks that repeatedly violate formal...
Read MoreKey Financial Regulators Release Unified Agendas On January 4, the Office of Information and Regulatory Affairs (OIRA) published its Fall 2022 Unified Agenda of Regulatory and Deregulatory Actions, which is a comprehensive list of actions...
Read MoreOn December 2, the Federal Reserve Board (Fed) proposed new principles for how banking institutions should manage climate-related financial risks. The proposed principles would apply to banking organizations with more than $100 billion in total assets and...
Read MoreOn November 14, President Joe Biden announced he will nominate Martin Gruenberg to serve as Chair and Member of the Board of Directors of the Federal Deposit Insurance Corporation (FDIC). Gruenberg, a Democrat, chaired the FDIC Board...
Read MoreThe American Banker reports how banks continue to face obstacles from regulations on “unfair” bank fees. President Biden has called for the elimination of bank "junk” fees with regulators seeking to expand a law on the...
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