In this issue...
All five federal financial regulatory agencies have now approved the release of a joint proposal to amend the Volcker Rule.
The SEC voted to allow mutual funds to distribute fund shareholder reports electronically beginning in 2021 (new rule 30e-3).
The SEC provided no-action relief permitting mutual funds to temporarily delay the disbursement of redemption proceeds when there is a reasonable belief of financial exploitation of a senior or impaired adult.
The Federal Reserve Board will consider a final rule to establish single-counterparty credit limits on June 14.
News reports state the CFPB dismissed its case against a large mortgage servicer for alleged RESPA violations; a federal appeals court in January vacated the fine but upheld the CFPB's structure as constitutional.
Jelena McWilliams was sworn in for a five-year term as Chairman of the FDIC and a six-year term on its board of directors.
The Financial Stability Board issued a call for public feedback on the technical implementation of its Total Loss-Absorbing Capacity (TLAC) Standard.
The FSB requested feedback for its third thematic peer review on resolution planning for systemically important banks in FSB member jurisdictions.
The CFPB released a Complaint Snapshot highlighting debt collection complaints.
New reports indicate the CFPB has dismissed the members of its Consumer Advisory Board and Councils; the CFPB announced it will revamp these advisory groups with new and smaller memberships.