Washington Report 360 | June 9, 2023

Interagency

• Final guidance on third-party risk management (FRB, FDIC, OCC)
• Proposed guidance on reconsiderations of value for residential real estate valuations (FRB, FDIC, OCC, NCUA, CFPB)

• Reports:
  • Semi-annual Report
  • Chatbots in consumer finance
• Blogs on:
  • New lessons for elder justice networks
  • Student loan borrowers
  • Public input on data brokers

CFTC

• Final rule on governance requirements for derivatives clearing organizations (DCOs)
• Proposed rules on:
  • DCO recovery and wind-down plans
  • Amendments to large trader reporting requirements

FTC

• RFI on FTC collaboration with state attorneys general on consumer education and protection
• Annual report on enforcement activities regarding TILA, CLA, and EFTA
• Data analysis on text message scams

OCC

• RFI on a proposed annual survey on consumer trust in banking
• Remarks on trust and banking

SEC

• Risk Alert on examinations focused on the Adviser Marketing Rule
• Adopted:
  • Amendments to remove references to credit ratings from Reg M
  • Rules to prevent fraud in security-based swap transactions and undue influence over CCOs
• Speech on exchanges, fintechs, and crypto (Chair)
• Charges against separate crypto trading firms for allegedly:
  • Operating as unregistered securities exchange, broker, and clearing agency
  • Misrepresenting trading controls and oversight, among other charges

House

• Committee on Agriculture hearing on the future of digital assets