Tag Archives: Consumer Financial Protection Bureau

State Attorneys General June 12 Update

Squire Patton Boggs’ State Attorneys General Practice Group is comprised of lawyers who have served at senior levels in state AG offices around the country and whose practices focus, to one degree or another, on representing clients before these increasingly assertive and powerful, yet often overlooked, government agencies, as explained in detail here. In these updates, … Continue Reading

House Set to Vote on CHOICE Act; Agency Nominations, Budgets, and Rulemakings Under Review

Legislative Activity House Set to Choose Path for CHOICE Act as Senate Holds Hearing on Community Banking This week, the House is set to vote on H.R. 10, the Financial CHOICE Act of 2017 (CHOICE Act). After a contentious markup in the House Financial Services Committee last month, the bill was favorably voted out of … Continue Reading

Busy Week at the Banking Committee; Treasury on the Hill as Trump Fills Out Financial Services Regulators

Legislative Activity Senate Banking to Host Secretary Mnuchin, Focus on Treasury This week, the Senate Banking Committee will consider the nominations of several individuals to fill key posts within the Treasury and Commerce Departments (see below for additional details). The Committee will also host Treasury Secretary Steven Mnuchin to discuss an array of domestic and … Continue Reading

Financial Regulatory Reform in the Spotlight as Financial Regulators Fill in the Trump Administration

Legislative Activity House Financial Services Committee to Hold Markup of CHOICE Act on Tuesday After much anticipation, House Financial Services Committee Jeb Hensarling (R-TX) introduced the Financial CHOICE Act of 2017 (CHOICE Act) last week following a contentious hearing on the bill. Unsurprisingly, the hearing revealed partisan differences over the effectiveness of the Dodd-Frank Wall … Continue Reading

Full Steam Ahead with Financial Services Regulatory Reform

Legislative Activity House Financial Services Committee Chooses CHOICE Act as President Trump Signs Financial Services Executive Orders After a two-week recess, the House Financial Services Committee is wasting no time getting back to work as it plans to hold a hearing on the Financial CHOICE Act this Wednesday. The bill, an acronym standing for Creating … Continue Reading

State Attorneys General April 10 Update

Squire Patton Boggs’ State Attorneys General Practice Group is comprised of lawyers who have served at senior levels in state AG offices around the country and whose practices focus, to one degree or another, on representing clients before these increasingly assertive and powerful, yet often overlooked, government agencies, as explained in detail here. In these … Continue Reading

Financial Services Regulatory Reform Ramps Up

Legislative Activity Senate Banking, House Financial Services Committees Set Sights on Financial Services Regulatory Reform With the first 100 days of the Trump Administration largely behind them, financial services lawmakers are beginning to move forward with their review of and efforts to reform the financial services sector. During the Senate Banking Committee’s hearing last week, Chairman … Continue Reading

Financial Services Regulatory Reform Poised to Move Ahead

Legislative Activity Lawmakers Moving Forward with Financial Services Reforms House Financial Services Chairman Jeb Hensarling (R-TX) has indicated that he plans to reintroduce his replacement for the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) – the CHOICE Act – but in various bills to give at least some provisions a greater likelihood of being enacted. Chairman … Continue Reading

Financial Services Nominees in the Spotlight as Agencies Under Scrutiny

Legislative Activity Senate Committees to Consider Labor, SEC Nominations This Week; House Has Full Slate of Hearings After Examining Flood Insurance and the Fed Last Week This week, two Senate committees will consider the nominations of President Trump’s picks to lead the Department of Labor (DOL) and the Securities and Exchange Commission (SEC). On Wednesday, … Continue Reading

State Attorneys General January 30 Update

Squire Patton Boggs’ State Attorneys General Practice Group is comprised of lawyers who have served at senior levels in state AG offices around the country and whose practices focus, to one degree or another, on representing clients before these increasingly assertive and powerful, yet often overlooked, government agencies, as explained in detail here. In these … Continue Reading

Dismantling Dodd-Frank Still a Priority; Acting Chairmen Take Charge at Regulatory Agencies

Legislative Activity Republicans Remain Committed to Dismantling Dodd-Frank At last week’s Congressional Republican retreat in Philadelphia, President Donald Trump urged Congress to make financial regulatory reform a priority to “help striving Americans get the credit they need to realize their dreams,” while Vice President Mike Pence confirmed that “dismantling Dodd-Frank” is a top legislative priority … Continue Reading

Carson Nomination Gets a Vote; Financial Services Regulators Pause, Prepare for Trump Administration

Legislative Activity Senate Banking Committee Set to Vote on Carson Nomination This Tuesday, January 24, the Senate Banking Committee is set to vote on the nomination of Dr. Ben Carson to be Secretary of the Department of Housing and Urban Development (HUD). Two weeks ago, Dr. Carson received a fairly warm welcome from both Democrats … Continue Reading

House and Senate Financial Services Lawmakers Kick-Off the 115th Congress; Regulators Tackle Debt Collection, Insurance, and FinTech

Legislative Activity New Year, New Look for Senate Banking and House Financial Services Committees With the new Congress officially under way, both the Senate Banking and House Financial Services Committees have announced new Committee members. Joining Chairman Mike Crapo (R-ID) on the Senate Banking Committee are fellow Republican Senators David Perdue (R-GA), Thom Tillis (R-NC), … Continue Reading

Financial Services Policymakers Prepare for 2017 as Regulators Wrap-Up Work

Legislative Activity Financial Services Policymakers Outline Agendas for 2017 Last week, House Financial Services Committee Chairman Jeb Hensarling (R-TX) outlined his ambitious agenda for 2017. At the top of the list is moving forward with the Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs Act (CHOICE Act), which Chairman Hensarling estimates will be on … Continue Reading

Major Changes to Dodd-Frank Ahead?; SEC, CFTC, FDIC to Meet

Legislative Activity Is Dodd-Frank on the Chopping Block Next Congress? With President-Elect Donald Trump in the White House and Republicans in control of both the House and Senate, we believe there is a real possibility for a significant overhaul of financial services regulation in the 115th Congress – especially if future Chairman of the Senate … Continue Reading

Hensarling Chooses CHOICE; CFTC Moves Forward with Priorities as Nominees Pending Confirmation, Administration Outlines Approach to Correspondent Banking

Legislative Activity Hensarling Chooses to Move Forward with CHOICE Act Last Friday, September 9, House Financial Services Committee Chairman Jeb Hensarling (R-TX) announced his intention to move forward with the Republican plan to replace the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) and formally introduced the Creating Hope and Opportunity for Investors, Consumers … Continue Reading

Financial Services Reform Efforts Slow Moving, as Lawmakers Turn to Fight on Terrorism Financing; SEC to Hold Open Meetings

Legislative Activity Lawmakers Press on with Financial Services Reform Efforts On June 23, 2016, House Financial Services Committee Chairman Jeb Hensarling (R-TX) unveiled a discussion draft of legislation aimed at replacing the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). The legislation, Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs (Financial CHOICE Act), … Continue Reading

Flurry of Financial Services Activity as Legislative Days Fly By; SEC, CFTC Move Ahead with Regulatory Priorities

Legislative Activity House to Vote on Financial Services Appropriations Bill as Hensarling Pushes Plan to Replace Dodd-Frank This week, the House is expected to consider the FY 2017 Financial Services and General Government Appropriations Act, which passed out of Committee largely along partisan lines and contains various provisions that would peel back certain aspects of … Continue Reading

Hensarling to Release Dodd-Frank Replacement as House to Vote on Puerto Rico Bill; CFPB, Federal Reserve Propose Long-Awaited Rulemakings

Legislative Activity Hensarling to Release Plan to Replace Dodd-Frank House Financial Services Committee Chairman Jeb Hensarling (R-TX) is set to unveil details about the Republican plan to replace the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) with a “pro-growth” alternative during a speech to the Economic Club of New York on Tuesday, … Continue Reading

Senate Banking Focuses on China, Iran; CFPB Takes on Mandatory Arbitration Clauses as the Administration Focuses on Financial Transparency

Legislative Activity Senate Banking Sets Its Sights Overseas In the coming weeks, the Senate Banking Committee will turn its focus to a number of international-related financial services issues. First, on Tuesday, May 10, the Committee will hold a hearing to evaluate the financial risks of China. Additionally, toward the end of the month, the Committee … Continue Reading

House Lawmakers to Vote on Dodd-Frank, Other Financial Services Bills; Puerto Rico Remains Key Priority

Legislative Activity House Lawmakers to Mark-Up, Vote Various Financial Services Bills This week, on Wednesday, April 13, the House Financial Services Committee is set to mark-up various bills that would significantly alter the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), including legislation that would repeal the government’s orderly liquidation authority, as well … Continue Reading

Congress to Receive CFPB Semi-Annual Report; SEC, Other Nominees See Movement As Financial Services Regulators Make Final Push

Legislative Activity Financial Services Committee Sets Its Sights on the CFPB This week, on Wednesday, March 16, the House Financial Services Committee will hold a hearing for Consumer Financial Protection Bureau (CFPB) Director Richard Cordray to provide his Semi-Annual Report to Congress.  Among a myriad of topics likely to be raised during the hearing, much … Continue Reading

Financial Services Lawmakers Set Agenda for 2016 and Look for a Solution to Puerto Rico’s Debt Crisis; CFPB, SEC, OFR All Hold Meetings

Legislative Activity House Financial Services Committee Sets Agenda for the Year Ahead As Senate Banking Committee Largely Silent Following the recent House Financial Services Committee retreat, we expect financial services lawmakers – at least in the House – to begin moving forward with their 2016 policy agenda. Among their priorities for this year (many of … Continue Reading

House Financial Services Committee Puts Spotlight on Housing; DOL to Make Changes to Fiduciary Rule

Legislative Activity Housing Policy in Spotlight as HUD Turns 50 This week the House Financial Services Committee will focus the majority of its attention on housing policy, as part of a look at the Department of Housing and Urban Development’s (HUD) fifty-year anniversary.  Financial services lawmakers will hold two hearings: one looking at the role … Continue Reading
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