FEDERAL GOVERNMENT RELATIONS
Federal court blocks enforcement of beneficial ownership reporting rule
Less than a month before a Jan. 1 deadline for businesses to report their beneficial owners to FinCEN, a federal judge has issued a preliminary injunction blocking enforcement of the requirement. The injunction applies to all businesses nationwide.
Federal Reserve expands check fraud detection tool to include commercial checks
Federal Reserve Financial Services recently announced the expansion of FedDetect Duplicate Notification for Check Services to include commercial checks alongside its existing Treasury check notification service.
OFCCP extends objection deadline for diversity data request to Dec. 10
The Office of Federal Contract Compliance Programs extended to Dec. 10 the deadline for federal contractors to object to the disclosure of their 2021 diversity data, known as “EEO-1 reports.”
Regulators release strategies for financial institutions to combat elder financial exploitation
Federal and state financial regulators released a joint statement with strategies and advice for financial institutions on identifying, preventing and responding to elder financial exploitation.
CFPB proposes new requirements for data brokers
The Consumer Financial Protection Bureau proposed a new rule to expand existing federal protections for consumer data to certain activities by data brokers.
House lawmakers propose federal studies on AI in financial services, housing
The top lawmakers on the House Financial Services Committee introduced a bill that would direct regulators to study the potential benefits and risks of AI in the financial and housing markets and propose possible regulations.