On 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...
Read MoreOn November 2, the European Central Bank (ECB) announced banks will have until the end of 2024 to identify and manage climate and environmental risks. The new deadlines come with the release of the results...
Read MoreOn October 18, the Federal Deposit Insurance Corporation (FDIC) board voted in favor of a new rule to effectively raise the fees banks will pay for deposit insurance. In a 3-0 vote, the FDIC will increase assessment...
Read MoreFederal Reserve Financial Stability Report Warns of Worsening Liquidity In its semi-annual report, published May 5, the Federal Reserve took a cautionary tone in describing the dramatic changes since its last report in November 2021,...
Read MoreSEC Extends Comment Period on the Proposed Climate Risk Disclosure Rule, Reopens Comment Period on Two Other Rule Proposals Following advocacy efforts by SFA and others, the SEC is providing additional time for the public...
Read MoreS&P Responds to Industry Criticism of New Ratings Criteria After receiving feedback from SFA and the industry, S&P Global confirmed on May 9 that it will delay any immediate changes to its criteria for rating...
Read MoreCFPB Announces it Intends to Examine Nonbank Companies Posing Risks to Consumers On April 25, the Consumer Financial Protection Bureau (CFPB) announced its plans to invoke a largely unused legal provision to examine nonbank financial...
Read MoreOn March 16, the Senate Banking committee (SBC) voted to advance the nominations of President Joe Biden’s remaining four Federal Reserve nominees. The nominations included Fed Chair Jerome Powell to a new term; Fed Governor...
Read MoreOn March 15, Allison Herren Lee announced she will step down as a Commissioner at the Securities and Exchange Commission (SEC). Her term is set to expire in June but will stay in her position...
Read MoreThe American Banker reports that regulators are expected to issue a long-anticipated proposal for modernizing the framework under the Community Reinvestment Act (CRA) as early as this month. In July 2020, the Federal Reserve, Federal...
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