Mitigation

The President’s Working Group on Financial Markets issued a long-awaited report spotlighting regulatory gaps in overseeing stablecoins and recommending legislation to implement a federal regulatory framework.

ICBA is scheduled to testify tomorrow on cyber and data security issues before the House Financial Services Committee’s Subcommittee on Consumer Protection and Financial Institutions.

The acting head of the Commodity Futures Trading Commission urged Congress to consider granting his agency the authority to be the primary federal regulator for digital assets.

The Consumer Financial Protection Bureau issued a series of orders to collect information on the business practices of large U.S. tech companies that operate payments systems.

ICBA advocated updates to bipartisan legislation that would create a cyber incident reporting regime to avoid excessive burdens on community banks.

ICBA told regulators it supports their efforts to consolidate guidance on third-party risk management while providing recommendations on the proposed interagency guidance.