❌

Normal view

Financial Data Transparency Act Joint Data Standards

The OCC, Board, FDIC, NCUA, CFPB, FHFA, CFTC, SEC, and Treasury are publishing a final joint rule to establish data standards to promote interoperability of financial regulatory data across these agencies. The standards established pursuant to this joint rule will later be considered for potential incorporation (to the extent feasible) into data standards to be adopted for certain collections of information in separate rulemakings by the agencies or through other actions taken by the agencies. At the effective date, the joint rule will not change any reporting requirements without further action by the agencies. The agencies are publishing this joint rule as required by the Financial Data Transparency Act of 2022.

Disclosure of Information

The Federal Deposit Insurance Corporation (FDIC) is inviting comment on a notice of proposed rulemaking that would update, clarify, and supplement the FDIC's regulations regarding the disclosure of confidential information by the FDIC and other parties, including by enhancing the ability of insured depository institutions to share confidential supervisory information with affiliates and certain other entities for appropriate business purposes, without seeking prior authorization from the FDIC. The proposal also would significantly simplify and clarify the requirements and restrictions applicable to the FDIC's discretionary disclosure of confidential information. Finally, the proposal would update and simplify the FDIC's rules regarding disclosures required under the Freedom of Information Act and would clarify how and when FDIC information may be disclosed in connection with legal proceedings and as a result of service of process made upon the FDIC and its directors, officers, and employees.
❌