NEXT WEEK: FDIC leaders, past/present, speak; RFI no. 11 comments due; FCRA testimony presented

July 6, 2018 CFPB, FDIC 0

The current and immediate past chairmen of the federal bank deposit insurance agency will open and close – respectively – a gathering of community bankers that is sponsored by the agency, one of a handful of scheduled public events touching on federal financial institution regulation.

Federal Deposit Insurance Corp. (FDIC) Board Chairman Jelena McWilliams is scheduled to offer closing remarks Wednesday (at about 3:30 p.m.) at the all-day meeting of the FDIC Advisory Committee on Community Banking (in Washington at FDIC headquarters). At the start of the day (at 9 a.m.) former Board Chairman Martin Gruenberg (now a member of the FDIC Board) kicks off the event with welcome remarks. The program also includes sessions on legislation, regulatory burden reduction, supervision, assessment credits and more.

Also in the week ahead:

Monday, July 9: Comments are due on “request for information” (RFI) no. 11 from the Bureau of Consumer Financial Protection (BCFP), focusing on “Bureau Financial Education Programs.” As of Thursday at midnight, 80 comments had been posted on the RFI (which was released for comment April 9). On July 16, RFI no. 12 – and the final one – comes due for comments (it focuses on “Consumer Complaint and Consumer Inquiry Handling Processes”; by Thursday, the RFI had received 176 comments). All told, more than 87,000 comments have been posted, so far, on the 12 RFIs issued by the agency. The first in the series was rolled out in January.
Thursday, July 12: The Senate Banking Committee is scheduled to hear testimony beginning at 10 a.m. about credit bureaus and the Fair Credit Reporting Act(FCRA) from representatives of the BCFP and the Federal Trade Commission (FTC). Peggy L. Twohig, assistant director, supervision policy, division of supervision, enforcement and fair lending for the BCFP, and Maneesha Mithal, associate director, division of privacy and identity protection, bureau of consumer protection for the FTC, will offer their views.
Thursday, July 12: The House Financial Services Committee is scheduled to hear testimony (also beginning at 10 a.m.) about the international financial system from Treasury Secretary Steven Mnuchin.

Senate Banking hearing on credit bureaus, FCRA

Meeting: FDIC Advisory Committee on Community Banking

House FSC hearing: The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System

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