On July 31, the U.S. House Committee on Financial Services wrote to the Chair of the Fed, Jerome Powell, urging him to withdraw and re-propose the Basel III Endgame proposal. In its letter, the Committee argues that the Fed’s...more
On March 7, the House Committee on Financial Services held a hearing entitled, “Politicized Financial Regulation and its Impact on Consumer Credit and Community Development” to discuss recent actions and proposals, like...more
Last week, the CFPB issued its Semi-Annual Report to Congress covering the period beginning October 1, 2022 and ending March 31, 2023. ...more
On November 14, the Senate Committee on Banking, Housing, and Urban Affairs held a hearing where regulators, Fed Vice Chair for Supervision Michael Barr, FDIC Chair Martin Gruenberg, NCUA Chair Todd Harper, and acting...more
This week, the Senate Banking Committee and the House Financial Services Committee held oversight hearings with leaders of the Federal Deposit Insurance Corporation (“FDIC”), Federal Reserve Board (“FRB”), the National Credit...more
Both the Senate Banking Committee and House Financial Services Committee held hearings this week on the federal regulatory response to the failures of Silicon Valley Bank (“SVB”) and Signature Bank. Witnesses at both hearings...more
The House of Commons Treasury Committee has announced the creation of a new sub-committee that will scrutinize financial services regulatory proposals and has published a report setting out the approach that Parliament will...more
-The DOJ has announced charges against four members of China’s military related to the 2017 cyberattack on credit-reporting agency Equifax, the breach that revealed “trade secrets and the personal data of about 145 million...more
On Wednesday, February 5, the House Financial Services Committee will hold the first part of a two-part hearing on “rent-a-bank” structures. The hearing is titled “Rent-A-Bank Schemes and New Debt Traps: Assessing Efforts to...more
The House Financial Services Committee has announced that it will hold the following hearings this month: On January 14, the Subcommittee on Consumer Protection and Financial Institutions will hold a hearing entitled, “The...more
As a mid-April blizzard again sucks all light (and life and hope) in the world away from us in the North, it feels like an awfully appropriate time to recognize the team of astronomers and other scientists (including Dr....more
On January 30, 2018, the House Financial Services Committee’s Financial Institutions and Consumer Credit Subcommittee held a hearing entitled “Examining Opportunities and Challenges in the Financial Technology (“Fintech”)...more
Editor's Note - In this Issue. The House Financial Services Committee passed the Financial CHOICE Act that would make significant changes to the Consumer Financial Protection Bureau; the U.S. Securities and Exchange...more
On April 26, 2017, the Financial Services Committee of the U.S. House of Representatives held a hearing entitled "A Legislative Proposal to Create Hope and Opportunity for Investors, Consumers, and Entrepreneurs." The purpose...more
While Director Cordray’s appearance at the House Financial Services Committee’s hearing on the CFPB’s fifth Semi-Annual Report yesterday was accompanied by the usual dose of political theater, his testimony did yield the...more
U.S. Congressman Ed Royce (R-CA), a senior member of the House Financial Services Committee, recently sent a letter to Federal Reserve Governor Dan Tarullo asking the Fed to undertake a comprehensive study of banking sector....more