Senate Banking Committee

News & Analysis as of

On the Hill this Week….

On March 24th, the U.S. Senate Committee on Banking, Housing and Urban Affairs Subcommittee on Securities, Insurance and Investment will hold a hearing on “Capital Formation and Reducing Small Business Burdens.” Information...more

U.S. Senate Banking Committee Schedules Hearing on Federal Reserve Reform

On March 3, the Senate Banking Committee will hold a hearing entitled, “Federal Reserve Accountability and Reform.” The hearing comes after Dallas Fed President Richard Fisher’s February 13 remarks on the growing concern...more

Regulatory Relief for Regional and Community Banks

After the US elections in November 2014, Congress passed two amendments to provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) – the so-called “swaps push-out rule” and the “Collins...more

Financial Services Weekly News Roundup - February 2015 #3

The Impact of Regulation on Community Banks: Harvard Study and Senate Banking Committee Hearing Highlight Differing Views. FDIC Director of Risk Management Supervision Doreen Eberley testified last week before the Senate...more

Federal Banking Regulators Testify on “Regulatory Relief”

On February 10, officials from federal and state banking authorities – the Fed, FDIC, NCUA, OCC, and the CSBS – testified at a U.S. Senate Banking Committee on ways the agencies can provide “regulatory relief” to community...more

Senate Banking Committee Schedules Hearing on “Regulatory Relief”

On February 10, the U.S. Senate Committee on Banking, Housing, and Urban Affairs is scheduled to hold its first full committee hearing on financial regulation, “Regulatory Relief for Community Banks and Credit Unions.”...more

Financial Services Weekly News Roundup - February 2015 #2

Editor’s Note - FDIC Highlights Efforts to Provide Regulatory Relief for Community Banks: On February 10, 2015, Doreen Eberley, Director at the Federal Deposit Insurance Corporation (FDIC), testified before the U.S....more

"Insights Conversations: Cybersecurity"

This past year has been called the "year of the massive data breach," with many high-profile attacks on well-known companies. Skadden partners Cyrus Amir-Mokri, Patrick Fitzgerald, Marc S. Gerber, Stuart D. Levi and Timothy...more

Sharing is Caring: The OCC Testifies Before the Senate Banking Committee

On December 10, 2014, Valerie Abend, Senior Critical Infrastructure Officer for the Office of the Comptroller of the Currency (OCC) testified before the U.S. Senate Committee on Banking, Housing, and Urban Affairs on the...more

Senate Banking Committee Elects New Chairman

On January 7, the Republican members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs elected Sen. Richard Shelby (R-Ala) as its new chairman for the 114th Congress. Sen. Shelby previously served as...more

Senate Banking Committee To Hold Oversight Hearing of FHFA

On November 19, the Senate Banking Committee will hold an oversight hearing, “The Federal Housing Finance Agency: Balancing Stability, Growth, and Affordability in the Mortgage Market.”...more

The 2014 Election: A Critical Juncture in Financial Services Legislation, Regulation, and Oversight

As November draws closer, the financial services industry is staking out a front row seat in tracking the outcomes of the 2014 midterm elections. The 114th Congress’ legislative agenda in this area will be shaped in large...more

Assessing Retroactive Inversion Legislation And Its Risks

The increasing use of corporate inversions, whereby a company via merger achieves 20 percent or more new ownership, claims non-U.S. residence, and is then permitted to adopt that country’s lower corporate tax structure and...more

Director Cordray to testify at Sept. 9 Senate hearing

The Senate Committee on Banking, Housing, and Urban Affairs will hold a hearing tomorrow on “Wall Street Reform: Assessing and Enhancing the Financial Regulatory System.” The list of witnesses includes CFPB Director...more

Republican Committee Leaders Question CFPB On Recess Appointment Activities

On July 29, House Financial Services Committee Chairman Jeb Hensarling (R-TX) and Senate Banking Committee Ranking Member Mike Crapo (R-ID) sent a letter to CFPB Director Richard Cordray questioning the CFPB’s authority to...more

Capital Thinking: Financial Services

LEGISLATIVE ACTIVITY - GAO expected to release Report on Big Banks - On Thursday, July 31, the Government Accountability Office (GAO) is expected to release a long awaited report on funding advantages of the...more

GAO report recommends increased CFPB participation in virtual currency efforts

In a report issued last week on virtual currencies, the Government Accountability Office recommended increased CFPB participation in interagency efforts related to such currencies. The report, entitled “Virtual...more

Senate Committees Hold Hearings on Student Loans

In the wake of recent focus on student loan debt, the Senate Committee on Banking, Housing and Urban Affairs held a hearing on the “Student Loan Servicing: the Borrower’s Experience.” The concern shown in some testimony at...more

FinCrimes Update - Volume 1, Issue 3

On May 8, OFAC released enforcement information regarding “apparent violations” of the Cuban Assets Control Regulations by Canadian subsidiaries of a U.S. insurance company. The U.S. company self-reported 3,560 apparent...more

Director Cordray to testify in front of Senate Committee

The Senate Banking Committee announced that it would be holding a hearing on June 10, 2014 on the CFPB’s fifth Semi-Annual Report to Congress. CFPB Director Richard Cordray is the only witness scheduled to testify....more

Senate MAP-21 Reauthorization Bill

The Senate Environment & Public Works (EPW) Committee released a bipartisan six-year surface transportation bill late yesterday evening. The bill, titled the MAP-21 Reauthorization Act, will be marked up by the committee on...more

Can Fannie and Freddie Cope Under Pressure?

Last week, the Federal Housing Finance Agency (FHFA) put Freddie and Fannie to the test, and the results were grim. Dodd-Frank mandated “stress tests,” designed to evaluate a financial institution’s ability to withstand an...more

Bill Aims To Exempt Venture Capital Company Equity Security Investments From Lenders Law

California requires persons who are engaged in the business of making loans to be licensed under the Finance Lenders Law. Cal. Fin. Code § 22000 et seq. This had been an issue for venture capital funds that extended bridge...more

Senate Banking subcommittee holding hearing on alternative financial products

The Senate Banking Committee’s subcommittee on Financial Institutions and Consumer Protection is holding a hearing today titled: “Are Alternative Financial Products Serving Consumers?” Observers have noted that the hearing...more

CFPB Director Testifies Before Senate Banking Committee

On November 12, CFPB Director Richard Cordray testified before the Senate Banking Committee in connection with the CFPB’s recent Semi-Annual Report to Congress, which covered the period April 1, 2013 through September 30,...more

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