News from April 2023

ICBA CEO: Large nonbank financial institutions can 'pose outsized risks to the financial system'

The Financial Stability Oversight Council (FSOC) issued a proposed analytic agenda for financial stability risks to give the public an idea of how it processes threats to financial stability.

Deputy Treasury secretary: 'Broad access to well-regulated financial services is in the interest of the United States'

The U.S. Treasury Department recently released the 2023 De-risking Strategy, which addresses the phenomenon of financial institutions choosing to end relationships with broad groups of customers instead of analyzing the individual risks associated with those customers, a news release said.

Committee chair on CFPB reform legislation: 'I want to reiterate my call to every Member, Republican or Democrat, to bring your ideas' to me - my door is open'

U.S. Rep. Patrick McHenry (R-NC), chair of the Fnancial Services Committee, gave opening remarks at the committee began markup of capital formation and Consumer Financial Protection Bureau (CFPB) reform legislation, according to a news release.