Agencies Issue Joint Statement on Crypto-Asset Policy Initiative and Next Steps

Federal bank regulatory agencies today issued a statement summarizing their interagency “policy sprints” focused on crypto-assets and providing a roadmap of future work related to crypto-assets. In particular, the statement describes the focus of the preliminary work conducted through the sprints undertaken by the agencies. It summarizes the agencies’ plan […]

Joint Statement on Supervisory and Enforcement Practices Regarding the Mortgage Servicing Rules in Response to the Continuing COVID-19 Pandemic

Summary: The Board of Governors of the Federal Reserve, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators (collectively, the agencies) are issuing a joint statement to alert industry that the supervisory […]

Federal Reserve: Series of Diversity and Inclusion Conferences Announced for November

The Federal Reserve Board announced on Monday that it will host a series of diversity and inclusion conferences in November focused on the experiences that underrepresented groups have as they participate in the economy, the economics profession, central banking, and finance. Federal Reserve Board Chair Jerome H. Powell will provide […]

Agencies Issue Guide to Help Community Banks Evaluate FinTech Relationships

The federal bank regulatory agencies today released a guide intended to help community banks assess risks when considering relationships with financial technology (fintech) companies. Community banks are entering into business arrangements with fintech companies to offer enhanced products and services to their customers, increase efficiency, and reduce internal costs. This […]

Federal Reserve: Board Statement on the Community Reinvestment Act

The Federal Reserve Board on Tuesday announced it is committed to working together with the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to jointly strengthen and modernize regulations implementing the Community Reinvestment Act (CRA). “We are delighted to work together to develop […]

Interagency Statement on Community Reinvestment Act Joint Agency Action

The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) are committed to working together to jointly strengthen and modernize regulations implementing the Community Reinvestment Act (CRA). The agencies have broad authority and responsibility for implementing the CRA. Joint agency […]

Agencies Request Comment on Proposed Risk Management Guidance for Third-Party Relationships

The federal bank regulatory agencies today requested public comment on proposed guidance designed to help banking organizations manage risks associated with third-party relationships, including relationships with financial technology-focused entities. The proposed guidance is intended to assist banking organizations in identifying and addressing the risks associated with third-party relationships and responds […]

FDIC & Federal Reserve: List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies Released

The Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation today announced the availability of the 2021 list of distressed or underserved nonmetropolitan middle-income geographies. These are geographic areas where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration under the […]

Federal Reserve: Extension of PPP Liquidity Facility for Final Time Announced through July 30, 2021

The Federal Reserve Board on Friday announced it will extend for a final time its Paycheck Protection Program Liquidity Facility, or PPPLF, by an additional month to July 30, 2021. The extension is being made as an operational accommodation to allow additional processing time for banks, community development financial institutions, […]

Federal Reserve: Fed Listens Initiative to Continue in 2021 Focused on the Economic Recovery from the COVID-19 Pandemic

The Federal Reserve on Wednesday announced that it would continue its Fed Listens initiative in 2021 to learn from a broad range of individuals, households, and communities about the economic recovery from the COVID-19 pandemic. “During the Federal Reserve’s 2019 monetary policy framework review, the Fed Listens series of events provided valuable feedback from […]