In a new Bulletin, which replaced and rescinded previous guidance, the Office of the Comptroller of the Currency advised regulated banks to prepare for the reduction in the settlement cycle for regular way trades.
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A dually registered broker-dealer and investment advisor settled FINRA charges for failure to supervise its registered representatives' electronic communications.
The New York State Department of Financial Services proposed guidance on the use of "artificial intelligence systems and external consumer data and information sources in insurance underwriting and pricing."
The CFPB proposed revisions to overdraft lending rules to ensure that consumer credit protections apply to overdraft credit provided by very large financial institutions. The CFPB stated that the proposal would save consumers "billions each year in junk fees."
Federal Reserve Board Governor Michelle W. Bowman offered a proposed path forward to address the balance needed for successful bank capital reform in the financial markets.