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GRIP Extra: Morgan Stanley fires head of commodities, US investigates Chinese companies
Other news includes an EU fine against Meta and Google, massive ESG investment outflows, and the OCC and FDIC signaling crypto regulation overhauls.
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GRIP Extra: Healthcare data breach compromises millions, Trump threatens to fire Powell
Other news includes Truth Social asking SEC to investigate Qube over short position, US Supreme Court approves relaxed pleading standard for ERISA claim, China mulls letting Western firms operate as ETF market makers.
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OCC reports ‘major’ cyber incident involving senior officials’ emails
Hackers intercepted bank regulators’ emails for more than a year, accessing highly sensitive financial information, the OCC said.
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House Financial Services asks agencies to rescind and modify rules
Flurry of letters seeks to remove ‘measures that stifle innovation.’
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OCC ends reputational risk examinations
The move aligns with recent pushes to mitigate practices that critics say facilitate politically motivated debanking.
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Stablecoin’s moment: The GENIUS Act and growing interest by banks, fintechs
Senate Banking Committee votes 18-6 to advance bill proposing clear regulatory framework for payment stablecoins.
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FDIC seeks a rollback of bank merger rule
The FDIC Board of Directors just approved a proposal to rescind the agency’s 2024 Statement of Policy on Bank Merger Transactions.
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Bank Biz: ‘Problem bank’ tracking gone, NGFS membership over, and a notable case settlement
Roundup of developments on the banking agencies space.