FDIC: Statement from Acting Chairman Travis Hill
On January 20, 2025, Travis Hill became Acting Chairman of the Federal Deposit Insurance Corporation (FDIC). Acting Chairman Hill issued the following statement: “It is my honor and privilege to serve as Acting Chairman of the FDIC. While the FDIC faces a broad range of issues, and as always will fulfill our mandate to promote a…
FHFA: Final Rule Announced Expanding Access to Liquidity for the Federal Home Loan Bank System
The Agency is modifying the treatment of certain types of unsecured credit to better enable the FHLBanks to respond to their members’ liquidity needs. The Federal Housing Finance Agency (FHFA) published a final rule today designed to improve access to liquidity for the Federal Home Loan Bank (FHLBank) System by adjusting the treatment of certain…
CFPB: Rule Proposed to Ban Contract Clauses that Strip Away Fundamental Freedoms
Rule would forbid fine print that seeks to censor speech or wipe away rights enshrined in law Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would stop financial companies from forcing Americans to choose between participating in the financial system or giving up their rights, including those guaranteed by the Constitution. The…
FEMA: Agency Advancing Implementation of the Community Disaster Resilience Zones Act
FEMA has made progress over the past two years in analyzing the nation’s census tracts to designate those most in-need and at-risk due to natural hazards. The agency has now designated a total of 767 Community Disaster Resilience Zones (CDRZ) eligible for increased federal support to become more resilient to natural hazards and extreme weather. With these…
CFPB: Input Sought on Digital Payment Privacy and Consumer Protections
Agency invites public to comment on financial surveillance concerns and how to apply existing laws to emerging consumer payment mechanisms Today, the CFPB announced that it is seeking public input on strengthening privacy protections and preventing harmful surveillance in digital payments, particularly those offered through large technology platforms. The agency is requesting comment on implementing…
HUD: Affordable Housing Regulations Streamlined and Modernized Making Housing More Accessible for Families Nationwide
The Final Rule for HUD’s HOME Investment Partnerships Program will reduce administrative burden on communities, better align federal resources, and lower housing costs for families nationwide. Today, the U.S. Department of Housing and Urban Development (HUD) published a Final Rule in the Federal Register to modernize and strengthen regulations for the HOME Investment Partnership Program (HOME). HOME…
CFPB: Application Approved from Financial Data Exchange to Issue Standards for Open Banking Under Personal Financial Data Rights Rule
Agency also issues updated procedures for companies requesting special regulatory treatment Today, the Consumer Financial Protection Bureau (CFPB) issued an order recognizing Financial Data Exchange, Inc. (FDX) as a standard setting body under the CFPB’s Personal Financial Data Rights rule. The order of recognition is the first to be issued under the rule. The Personal Financial Data…
CFPB: Rule Finalized to Remove Medical Bills from Credit Reports
Final rule will remove billions of dollars of medical bills from credit reports and end coercive debt collection practices that weaponize the credit reporting system Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule that will remove an estimated $49 billion in medical bills from the credit reports of about 15 million Americans. The CFPB’s action…
ABA: Banks and Business Groups File Legal Challenge Against Federal Reserve Over Flawed Stress Testing Framework
The Bank Policy Institute, along with the American Bankers Association, the U.S. Chamber of Commerce, the Ohio Bankers League and the Ohio Chamber of Commerce today announced that they are filing litigation against the Federal Reserve, challenging the opaque aspects of the stress testing framework. While stress testing is an important risk management tool for banks and…
Federal Reserve: Public Comments Sought on Significant Changes to Improve Transparency of Bank Stress Tests
Due to evolving legal landscape & changes in the framework of administrative law, Federal Reserve Board will soon seek public comment on significant changes to improve transparency of bank stress tests & reduce volatility of resulting capital requirements n view of the evolving legal landscape, the Federal Reserve Board will soon seek public comment on…