Fed Vice Chair To Update Congress On Implementation of S. 2155


WASHINGTON—Federal Reserve Vice Chairman of Supervision Randal Quarles is set to deliver the regulator's semiannual report to Congress in November, where he will offer an update on the Fed's efforts to implement the Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155).

Quarles will testify before the House Financial Services Committee Nov. 14. The Senate Banking Committee's hearing is yet to be scheduled.

Quarles' report to the committees earlier this year focused on the regulatory and supervisory agenda of the Fed, including the steps the regulator has taken to reduce the burden on community financial institutions. He also discussed cybersecurity and fintech development, NAFCU noted in its analysis.

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