News & Trends
The Responsible Financial Innovation Act: A Comprehensive Proposal to Regulate Digital Assets
National Law Review - 13 min read | The 69-page bipartisan proposal—which consists of eight titles and 54 sections—covers a myriad of issues related to taxes, securities, commodities, consumer protection, payments and stablecoins, banking laws, interagency coordination, and further agency research.
How Businesses Can Hold Their Banks Accountable on Climate Change
Harvard Business Review - 5 min read | Companies are under scrutiny for how major banks that they partner with are financing carbon-intensive projects. How can companies wishing to be “green” respond? One solution is to switch to a low-carbon bank if possible.
FDIC Probing How Bankrupt Crypto Broker Voyager Marketed Itself
Bloomberg - 3 min read | Voyager posted in 2019 on a company web page stated that this protection would take effect in the “rare event your USD funds are compromised due to the company or our banking partner’s failure,” according to the Wayback Machine, which keeps an archive of Internet content.
ECB Stress Test Shows Most Euro Zone Banks Don't Include Climate Risk in Their Credit Models
CNBC - 3 min read | In a report published Friday, the ECB said the findings reaffirm the view that banks must sharpen their focus on climate risk and that most euro zone banks do not sufficiently incorporate climate risk into their stress-testing frameworks and internal models.
Key Differences Between the OCC’s Rescinded 2020 CRA Final Rule and the 2022 CRA Revisions Proposed by U.S. Banking Regulators
Consumer Finance Monitor - 8 min read | This blog post explores the Proposal in more detail by discussing some key differences between the Rescinded Rule and the Proposal, namely differences in(1) how banks delineate assessment areas; (2) the evaluation framework used; and (3) data collection and data retention require...
Will the U.S. Supreme Court Deny Investors the Climate-Risk Information They Need?
Morningstar - 5 min read | Under the best of circumstances, Congress struggles to enact major legislation and to base it on expertise rather than purely political considerations. Suffice it to say, Congress is not operating under the best of circumstances today. Thus, the court’s ruling makes an already chaotic federal...
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