THIS WEEK: Banking, credit union regulators testify in House, Senate; Fed’s Brainard speaks on CRA modernization

The coming week will bring updates on financial regulatory agencies’ activities and plans for supervision, including COVID-19 response, during two oversight hearings on Capitol Hill, with all four financial institution prudential regulators set to testify Tuesday and Thursday. Meanwhile, the Federal Reserve Board’s point person on Community Reinvestment Act (CRA) will deliver remarks on modernization of the anti-redlining law during a livestreamed conference address.

Tuesday

The Senate Banking Committee, in a hearing at 2 p.m. ET titled “Oversight of Financial Regulators,” will hear testimony from Federal Reserve Board Vice Chair for Supervision Randal K. Quarles; Acting Comptroller of the Currency Brian Brooks; Federal Deposit Insurance Corp. (FDIC) Chairman Jelena McWilliams; and National Credit Union Administration (NCUA) Board Chairman Rodney E. Hood. (Watch live.)

At 5 p.m., Federal Reserve Board Gov. Lael Brainard will speak via livestream on CRA modernization before the National Congress of American Indians Annual Convention. (Watch live.) (The Fed currently has an advance notice of proposed rulemaking on modernization of its own CRA regulation out for comment until Feb. 16. See Reg lookup on Community Reinvestment Act.)

Thursday

At noon, the House Financial Services Committee will hold a hearing, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions during the Pandemic.” As in Tuesday’s hearing, witnesses before this one will include Quarles, Brooks, McWilliams, and Hood. (Watch live.)

 

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