Ebrima Santos Sanneh

The Crypto-Asset National Security Enhancement and Enforcement Act would increase regulatory oversight of cryptocurrencies traded on public blockchains and guard against money laundering and sanctions evasion, particularly by holding the largest crypto investors accountable for compliance.

Both parties agree the registry's rules need to be more targeted, while Democrats decried a Republican push to cut the agency's funding.

Gacki, who has served since 2019 as director of Treasury's Office of Foreign Assets Control, will replace acting Fincen Director Himamauli Das. Her appointment comes as the Biden administration seeks to enforce sanctions against Russia and implement rules aimed at identifying undisclosed shell company owners.

At a hearing Tuesday, consumer advocates called for a ban on deferred interest credit cards, and CFPB Director Rohit Chopra echoed their concerns. The agency signaled that actions to combat unfair fees in the medical realm could be coming soon.

In a speech Monday, Federal Reserve vice chair for supervision Michael Barr said the few banks that would have to raise capital under the final Basel III capital rules would be able to do so fairly quickly and without reducing dividends.

The FDIC's New York regional office faced staffing shortages throughout its supervision of now-failed Signature Bank. Experts say more competitive wages, culture shifts and whistleblower protections could help regulators attract and retain talent and improve oversight.

FDIC Chairman Martin Gruenberg announced that regulators will soon issue a proposed rule to finalize U.S. implementation of the most recent revisions to the Basel III capital framework. Among the expected updates are changes to capital requirements for banks with assets of more than $100 billion, three of which failed this spring.

FDIC directed three companies Thursday to stop making false and misleading statements about FDIC deposit insurance, its most recent effort to clamp down on misleading representations.

Acting Comptroller of the Currency Michael Hsu said the banking industry has been largely insulated from crypto winter, but added that bank interest in servicing the crypto industry has waned over the same period. 

Lawmakers questioned Treasury Secretary Janet Yellen on concerns including bank consolidation, the systemic risk exception and the need for regulation of cryptocurrency during Tuesday's House Financial Services Committee hearing. During the hearing lawmakers highlighted gaps they see in post 2008 financial regulations at a time when they say big banks wield growing influence on the system.