President Joseph R. Biden will nominate Sandra L. Thompson to serve as Director of the Federal Housing Finance Agency.
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CFPB Director and FDIC Board Member Rohit Chopra criticized FDIC Chair Jelena McWilliams for preventing an FDIC Board vote to publish a Request for Information on the FDIC's Bank Merger Act regulations, even though the Request had support from a majority of the FDIC Board.
A broker-dealer and a clearing firm settled FINRA charges for inadequate supervision of the "rollover" of investments in Unit Investment Trusts.
Maxine Waters (D-CA), Chair of the House Financial Services Committee, called on the Federal Reserve Board, the FDIC and the OCC to "impose a moratorium on approving any large merger and acquisition application resulting in a banking entity that would have more than $100 billion in total assets."
In a statement in support of longer comment periods during the rulemaking process, SEC Commissioner Hester M. Peirce explained that an open dialogue with the public is crucial to effective rulemaking.