Podcast: Private Fund Regulatory Update: Post-U.S. Government Shutdown
Podcast: Keeping Up with Recent Changes and Trends in Private Fund Regulation
Join us for the latest episode of Financial Services Focus for a discussion of Federal Reserve Chair Jerome Powell’s recent Humphrey-Hawkins testimony before the House Financial Services Committee and Senate Banking...more
Last week, the CFPB issued its Semi-Annual Report to Congress covering the period beginning April 1, 2023 and ending September 30, 2023. On June 12, 2024, CFPB Director Chopra is scheduled to appear before the Senate Banking...more
Appropriations Update. As appropriators continue to finalize the 12 funding bills for fiscal year (FY) 2024 – which began on October 1, 2023 – a series of stopgap CRs have been needed to avoid a government shutdown. This...more
On February 15, Senators Sherrod Brown (D-OH), Jack Reed (D-RI) and Elizabeth Warren (D-MA) sent a letter to Zelle seeking clarification of its reimbursement policy for victims of imposter scams. Calling its protocol for...more
On February 15, 2024, Senators Sherrod Brown (D-OH), Jack Reed (D-RI) and Elizabeth Warren (D-MA) sent a letter to Zelle seeking clarification of its reimbursement policy for victims of imposter scams and urging Zelle to...more
On February 1, the U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing on “Examining Scams and Fraud in the Banking System and Their Impact on Consumers,” and invited three panelists to testify,...more
On November 30, the Director of the CFPB, Rohit Chopra, testified during the Senate Banking Committee’s hearing on the Bureau’s Semi-Annual Report to Congress. The Senate Banking Committee questioned Chopra on the Bureau’s...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
Proponents of marijuana reform have had cause for celebration in 2023. Despite challenges facing the industry, the political and social momentum surrounding cannabis is ticking upward. Most recently, the marijuana industry...more
SAFER Banking Act Heads to Senate Floor - On September 27, the Secure and Fair Enforcement Regulation (SAFER) Banking Act (S.2860) was reported out from the Senate Committee on Banking, Housing, and Urban Affairs with...more
On September 20, the Senate Banking Committee held its first hearing on the use of artificial intelligence (AI) in the financial services space, further revealing a partisan divide regarding the utilities and risks associated...more
The Senate Banking Committee is scheduled to mark up a new version of the SAFE Banking Act, now known as the “Secure And Fair Enforcement Regulation Banking Act” or the SAFER Banking Act (SB 2860). The revised bill addresses...more
Fresh on the heels of intense optimism over the Department of Health and Human Services’ recommendation that cannabis be rescheduled, another key federal reform is in motion. On September 27, 2023, the Senate Committee will...more
On July 26, the Senate Banking Committee held a hearing regarding “fees and tactics impacting Americans’ wallets” in relation to financial services and the role of the CFPB in addressing harmful fees. Leading the hearing,...more
On June 21, 2023, the U.S. Senate Committee on Banking, Housing, and Urban Affairs (the “Senate Banking Committee”) voted the Recover Executive Compensation from Unaccountable Practices Act (the “RECOUP Act”) out of committee...more
On June 13, CFPB Director Rohit Chopra testified before the Senate Banking Committee to discuss the Bureau’s most recent semi-annual report to Congress. Covering the period beginning April 1, 2022 and ending September 30,...more
At the end of last week, the CFPB issued its Semi-Annual Report to Congress covering the period beginning April 1, 2022 and ending September 30, 2022. Tomorrow, June 13, CFPB Director Chopra is scheduled to appear before...more
This week, the Senate Banking Committee and the House Financial Services Committee held multiple hearings on bank failures that have occurred this year, with each committee holding a hearing with former leaders of the failed...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
In December, Senate Banking Committee Chairman Sherrod Brown (D-OH), along with Senators Tina Smith (D-MN) and Ron Wyden (D-OR) sent a letter to the FTC and the CFPB requesting a review of a Florida-based real estate...more
This Wednesday, December 14, CFPB Director Rohit Chopra is scheduled to appear before the House Financial Services Committee for a hearing, “Consumers First: Semi-Annual Report of the Consumer Financial Protection Bureau.” A...more
LEGISLATIVE LOWDOWN - Congress Advances Towards CR as Deadline Approaches. Yesterday, Senate Democrats proposed legislation to fund the federal government through Dec. 16 with the use of a continuing resolution (CR). The...more
US House of Representatives Committee on Financial Services Chairwoman, Maxine Waters (D-CA), has introduced new legislation H.R. 8833 “Making Communities Stronger through the Community Reinvestment Act.” The proposed...more
Congress- U.S. Senate- Committee on Banking, Housing, and Urban Affairs- Hearing: The Semiannual Monetary Policy Report to Congress- June 22, 2022- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a...more