September 11, 2024 - The House Financial Services Subcommittee on Financial Institutions and Monetary Policy, led by Chairman Andy Barr (KY-06), held a hearing entitled “Transparency in Global Governance.”...more
September 9, 2024- Securities and Exchange Commission Chief Accountant Paul Munter made a statement at the 2024 AICPA & CIMA Conference on Banks & Savings Institutions....more
August 14, 2024 - All Financial Services Committee Republicans—led by Chairman Patrick McHenry (NC-10)—sent a letter to Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg demanding his immediate...more
July 23, 2024- The Bank Policy Institute, with the American Bankers Association (ABA), Consumer Bankers Association (CBA), and the National Bankers Association (NBA), submitted a joint statement for the record for the...more
May 10, 2024- The House Committee on Rules publicly noticed its intent to consider the Financial Innovation and Technology for the 21st Century (FIT21) Act, clearing a pathway for a floor vote later this month....more
March 13, 2024- The U.S. House Committee on Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion held a hearing entitled, "Bureaucratic Overreach or Consumer Protection? Examining the...more
February 22, 2024- The U.S. House Committee on Financial Services Subcommittee on Housing and Insurance held a field hearing entitled, "Restoring Prosperity in American Communities: Examining the Failures of Status Quo...more
Bipartisan, Bicameral Congressional Review Act resolution addressing Securities and Exchange Commission Staff Accounting Bulletin 121 Introduced- A resolution invoking the Congressional Review Act was introduced to...more
January 18, 2024- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, "National Security Challenges: Outpacing China in Emerging Technology."...more
January 17, 2024- U.S. Senate Committee on Banking, Housing, and Urban Affairs Ranking Member Tim Scott (R-S.C.) led a letter to the Federal Reserve, Federal Deposit Insurance Corporation, and Office of the Comptroller of...more
January 3, 2024- The Federal Reserve Board published the minutes of the Federal Open Market Committee meeting held December 12-13, 2023. January 3, 2024- The U.S. House Committee on Financial Services announced the...more
November 16, 2023- The Federal Deposit Insurance Corporation Board of Directors approved a final rule to implement a special assessment to recover the loss to the Deposit Insurance Fund (DIF) associated with protecting...more
September 19, 2023- The U.S. House Committee on Financial Services Subcommittee on Capital Markets held a hearing entitled, "Oversight of the SEC's Division of Investment Management."...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 Cozen Lens- •This past weekend’s fast-moving banking crisis was an abrupt reminder that the era of easy money is over. While regulators were able to avoid broader contagion (at least for now), this crisis has...more
December 8, 2022- U.S. Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, and U.S. Sen. Pat Toomey (R-PA), Ranking Member of the Senate Committee on Banking, Housing, and...more
Hearing: Oversight of the U.S. Securities and Exchange Commission- September 15, 2022- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, "Oversight of the U.S. Securities and...more
September 13, 2022- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, "New Consumer Financial Products and the Impacts to Workers."...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
On March 15, 2021, the FDIC’s Office of Minority and Women Inclusion (OMWI) released a Financial Institution Letter regarding diversity self-assessments. In accordance with Section 342 of the Dodd-Frank Wall Street Reform...more
The CFPB has issued its Spring 2020 Semi-Annual Report to Congress covering the period September 30, 2019 through March 31, 2020. The report represents the CFPB’s fourth semi-annual report under Director Kraninger’s...more
U.S. Developments - REGULATORY - House Passes Bill to Review How Blockchain Technology Can Improve FinCEN - The U.S. House of Representatives passed a bill sponsored by Anthony Gonzalez (R-OH) that requires the Director...more
The Committee on Financial Services will hold a hearing entitled “A $1.5 Trillion Crisis: Protecting Student Borrowers and Holding Student Loan Servicers Accountable.” The hearing, scheduled to take place on Tuesday,...more
Following hearings this past spring, Representative Maxine Waters (D-CA), Chair of the House Financial Services Committee, released a statement that the Committee finds more work is needed to improve diversity at megabanks. ...more
The House Financial Services Committee continues briskly reporting out legislation targeted at the credit reporting system, housing, and diversity and inclusion in the financial services sector. Chairwoman Maxine Waters...more