OCC Issues Fourth Quarter 2019 and First Quarter 2020 CRA Evaluation Schedule

The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act evaluations to be conducted in the fourth quarter 2019 and the first quarter 2020.

The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act evaluations to be conducted in the fourth quarter 2019 and the first quarter 2020.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-99.html

OCC Issues Fourth Quarter 2019 and First Quarter 2020 CRA Evaluation Schedule

The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act evaluations to be conducted in the fourth quarter 2019 and the first quarter 2020.

The Office of the Comptroller of the Currency today released its schedule of Community Reinvestment Act evaluations to be conducted in the fourth quarter 2019 and the first quarter 2020.

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-99.html?utm_source=RSS_feed&utm_medium=RSS

Rep. Waters leads delegation to Switzerland to discuss Facebook cryptocurrency

Rep. Maxine Waters (D-CA) recently led a Congressional delegation to Switzerland to visit with government officials about a new cryptocurrency that social media company Facebook is proposing.© Shutterstock Waters, chair of the House Financial Services Committee, met with the government officials in Switzerland, who would oversee and regulate Facebook’s proposed Libra cryptocurrency, which would be […]

The post Rep. Waters leads delegation to Switzerland to discuss Facebook cryptocurrency appeared first on Financial Regulation News.

Rep. Maxine Waters (D-CA) recently led a Congressional delegation to Switzerland to visit with government officials about a new cryptocurrency that social media company Facebook is proposing.

© Shutterstock

Waters, chair of the House Financial Services Committee, met with the government officials in Switzerland, who would oversee and regulate Facebook’s proposed Libra cryptocurrency, which would be issued by the Swiss-headquartered Libra Association. The visit follows a hearing the committee held in July to examine Libra, and its impact on consumers, investors, national security, and the financial system. David Marcus, CEO of Facebook’s Calibra, testified at the hearing.

The Waters delegation met with representatives from the State Secretariat for International Financial Matters (SIF), the Federal Data Protection and Information Commissioner (FDPIC), the Financial Market Supervisory Authority (FINMA), and Swiss legislators to understand Facebook’s plans.

“While I appreciate the time that the Swiss government officials took to meet with us, my concerns remain with allowing a large tech company to create a privately controlled, alternative global currency. I look forward to continuing our Congressional delegation, examining these issues, money laundering, and other matters within the Committee’s jurisdiction,” Waters said.

In July, Waters sent a letter to Facebook CEO Mark Zuckerberg, COO Sheryl Sandberg, and Marcus requesting an immediate moratorium on the implementation of Facebook’s proposed cryptocurrency until Congress enacts an appropriate legal framework.

The post Rep. Waters leads delegation to Switzerland to discuss Facebook cryptocurrency appeared first on Financial Regulation News.

Read more / Original news source: https://financialregnews.com/rep-waters-leads-delegation-to-switzerland-to-discuss-facebook-cryptocurrency/

Commodity Futures Trading Commission announces public MRAC meeting

Commodity Futures Trading Commission (CFTC) officials said the agency’s Market Risk Advisory Committee (MRAC) would conduct a public meeting via teleconference on Sept. 9.© Shutterstock At the meeting, the MRAC will receive a status report from the Interest Rate Benchmark Reform Subcommittee while voting on its recommendation regarding plain-English disclosure materials. The MRAC will also […]

The post Commodity Futures Trading Commission announces public MRAC meeting appeared first on Financial Regulation News.

Commodity Futures Trading Commission (CFTC) officials said the agency’s Market Risk Advisory Committee (MRAC) would conduct a public meeting via teleconference on Sept. 9.

© Shutterstock

At the meeting, the MRAC will receive a status report from the Interest Rate Benchmark Reform Subcommittee while voting on its recommendation regarding plain-English disclosure materials. The MRAC will also discuss other issues involving the transition from the London Inter-bank Offered Rate (LIBOR) to risk-free reference rates, including central counterparty (CCP) adjustments to discounting/price alignment interest and the clearing treatment for certain physically-settled swaptions.

“On September 9th, the MRAC will consider the first recommendation from the Interest Rate Benchmark Reform Subcommittee regarding disclosures included with new derivatives that reference LIBOR and other IBORs,” CFTC Commissioner Rostin Behnam, the MRAC’s sponsor, said. “I appreciate the Subcommittee’s hard work in developing these plain-English disclosures for use by market participants, and commend them for this important contribution to the benchmark reform effort.”

The session is also expected to address other issues involving the transition from the London Inter-bank Offered Rate (LIBOR) to risk-free reference rates, including central counterparty (CCP) adjustments to discounting / price alignment interest and the clearing treatment for certain physically-settled swaptions.

The CFTC is encouraging the public seeking to submit written statements in connection with the meeting to submit them by Sept. 16, 2019.

The post Commodity Futures Trading Commission announces public MRAC meeting appeared first on Financial Regulation News.

Read more / Original news source: https://financialregnews.com/commodity-futures-trading-commission-announces-public-mrac-meeting/

CFPB Releases Report on Consumer Credit Card Market

The Consumer Financial Protection Bureau (Bureau) today released its fourth biennial report on the state of the credit card market for the period 2017-2018. 

The Consumer Financial Protection Bureau (Bureau) today released its fourth biennial report on the state of the credit card market for the period 2017-2018. 

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/bureau-releases-report-consumer-credit-card-market/

Consumer Financial Protection Bureau Settles with Maxitransfers Corporation

The Consumer Financial Protection Bureau (Bureau) today announced a settlement with Maxitransfers Corporation (Maxi), a company that serves consumers looking to send money overseas.

The Consumer Financial Protection Bureau (Bureau) today announced a settlement with Maxitransfers Corporation (Maxi), a company that serves consumers looking to send money overseas.

Read more / Original news source: https://www.consumerfinance.gov/about-us/newsroom/bureau-settles-maxitransfers-corporation/

OCC Hosts Minority Depository Institutions Advisory Committee Meeting September 19

The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Thursday, September 19, 2019, beginning at 8:30 a.m., Eastern Daylight Time (EDT).

The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Thursday, September 19, 2019, beginning at 8:30 a.m., Eastern Daylight Time (EDT).

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-98.html

OCC Hosts Minority Depository Institutions Advisory Committee Meeting September 19

The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Thursday, September 19, 2019, beginning at 8:30 a.m., Eastern Daylight Time (EDT).

The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Minority Depository Institutions Advisory Committee (MDIAC) on Thursday, September 19, 2019, beginning at 8:30 a.m., Eastern Daylight Time (EDT).

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-98.html?utm_source=RSS_feed&utm_medium=RSS

OCC Hosts Mutual Savings Association Advisory Committee Meeting September 17

The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday September 17, 2019, beginning at 8:30 a.m. Eastern Daylight Time (EDT).

The Office of the Comptroller of the Currency (OCC) today announced it will host a public meeting of the Mutual Savings Association Advisory Committee (MSAAC) on Tuesday September 17, 2019, beginning at 8:30 a.m. Eastern Daylight Time (EDT).

Read more / Original news source: https://www.occ.gov/news-issuances/news-releases/2019/nr-occ-2019-97.html