Evolving State Supervision: Issues Arising from State Qualification Standards and 'SAFE' Act Licensing, and Coordination with the CFPB
On Dec. 16, 2020, the U.S. Government Accountability Office (the GAO) issued a report to the Board of Governors of the Federal Reserve System, the Commodity Futures Trading Commission, the Department of the Treasury, the...more
Regulatory Developments - FHFA Announces Principal Reduction Program for Struggling Underwater Homeowners - On April 14, the Federal Housing Finance Agency (FHFA) announced a new Principal Reduction Modification...more
A GAO study found the U.S. financial regulatory structure is complex, with responsibilities fragmented among multiple agencies that have overlapping authorities. As a result, financial entities may fall under the regulatory...more
In testimony before a Congressional subcommittee, a GAO representative noted FSOC still lacks a comprehensive, systematic approach to identify emerging threats to financial stability. In 2012, GAO reported that FSOC’s...more
In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - President Obama touched on both new and old initiatives in his State of...more