Washington Report 360 | July 21, 2023

Upcoming

• July 26: SEC open meeting to consider final rule on Cybersecurity Disclosure for Public Companies and proposal for Conflicts of Interest Associated with the Use of Predictive Analytics by Broker-Dealers and Investment Advisers
• July 27: FRB open meeting to consider Basel III Endgame proposal

CFPB

• CNBC Interview: CFPB Chief Lays Out Regulatory Agenda
• Report on consumers risk posed by employer-driven debt
• Blogs on:
  • Next steps for a company and its customer following settlement agreement
  • Twelfth-year anniversary highlights of CFPB activities
• Joint statement on CFPB-European Commission collaboration on financial consumer protection issues
• Complaint against a company for alleged UDAAP violations related to advertising, servicing, collections, and disclosures

DOJ

• Speech announcing the merger of two Criminal Division groups - the National Cryptocurrency Enforcement Team and the Computer Crime and Intellectual Property Section
• With FTC, settled with company for alleged violations of COPPA

FINRA

• Report from Board of Governors July Meeting

FRB

• Live launch of FedNow® Service, system for instant payments
• Speech on fair lending, including AI-related concerns  (Vice Chair)
• 2022 Annual Report

FSB

• Final global regulatory framework for crypto-asset activities

FTC

• Results of national initiative to curtail illegal telemarketing calls (with DOJ, FCC, and state and local law enforcement agencies); DOJ press release and related speech
• Requests for comment on:
  • New parental consent mechanism under COPPA
  • Updated draft merger guidelines (with DOJ) 

HUD

• Industry commitments to increase transparency of rental housing ‘junk’ fees

OCC

• Focus on Financial Literacy: Jump$tart Coalition Financial Literacy Day on Capitol Hill; related remarks

SEC

• Speech on AI (Chair)

Treasury

• Remarks at Financial Literacy & Education Commission (FLEC) meeting
• Joint statement on the EU-U.S. financial regulatory forum

House

• Financial Services committee hearings on:
  • Climate risk and financial regulation; related remarks here (OCC), here (FRB), and here (FDIC)
  • FinCEN’s beneficial ownership (BOI) rulemaking

Senate

• Banking committee hearing on deposit insurance perspectives
• Appropriations committee hearing on SEC 2024 budget; related testimony (SEC)

White House

• Fact Sheets:
  • Voluntary Commitments from AI Companies to Manage the Risk Posed by AI
  • Competition Council: New Actions; Meeting Readout