FDA’s Noteworthy Program to Assess the Effectiveness of its Messages to the Stakeholders of the Center for Devices and Radiological Health (CDRH)

Mar 11

FDA states it is going to:

“to conduct educational and public information programs relating to the safety of regulated medical devices and radiation-emitting products. FDA must conduct needed research to ensure that such programs have the highest likelihood of being effective. Improving communications about medical devices and radiation emitting products will involve many research methods, including individual in-depth interviews, mall-intercept interviews, focus groups, self-administered surveys, gatekeeper reviews, and omnibus telephone surveys.”

An effective communications program involves the identification of target audiences, assessing the effectiveness of alternative messages and performing evaluative research concerning the best methods for dissemination of the referenced materials.

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Congress asked the Fed chief about marijuana banking: ‘It would be nice to have clarity’

Feb 28

From: CNBC

  • Asked about the Fed’s thoughts on the cannabis space, Chair Jerome Powell says further regulatory guidance would be helpful.
  • “I think it would be great to have clarity,” Powell says. “It puts financial institutions in a very difficult place and puts the supervisors in a difficult place, too.”
  • Marijuana remains illegal on a federal level in the United States, but 10 states and the District of Columbia have allowed its use for recreational purposes.

Federal Reserve Chairman Jerome Powell said before the U.S. Senate Tuesday that conflicting federal and state laws on the sale of marijuana and other cannabis products put bank supervisors in a “very difficult place.”

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Consumer Bankers Association weighs in on small-dollar lending

Jan 29

From: Financial Regulation News

By Douglas Clark

The Consumer Bankers Association (CBA) maintains actions by federal regulators unfavorably impact small-dollar lending consumers by forcing them to payday lenders and other less regulated sources when in need.

CBA officials said the input stems from the Federal Deposit Insurance Corporation’s (FDIC) request for information on its 2013 small-dollar guidance.

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Financial Stability Oversight Council Flags Brexit, Federal Government Debt as Potential Financial Stability Risks

Dec 27

From: ABA Banking Journal

Risks to the U.S. financial system remain moderate, though factors outside the U.S. — including Brexit — could potentially threaten financial stability in the months ahead, the Financial Stability Oversight Council said today in its annual report. The council also noted that an increasing federal government debt burden could negatively affect financial stability in the long-term.

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Banking needs a regtech sandbox

Nov 02

Editor’s Note: Cross-posted from Regulatory Cybersecurity/FISMA Focus.

From: American Banker | BankThink

By Jo Ann Barefoot

One of the best-known inventions in banking oversight in recent years is the “regulatory sandbox.” Pioneered by the U.K.’s Financial Conduct Authority, these are running now in about two dozen countries and several U.S.states, allowing fintech innovators to conduct live, small-scale testing under the regulator’s supervision.

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