Tag Archives: DOL

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

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 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

House Starts Work on Higher Education Reform; Senate Holds Confirmation Hearing for Andy Puzder

Legislative Activity On Tuesday, February 7, the House Committee on Education and the Workforce held a hearing titled “Challenges and Opportunities in Higher Education” to examine the current policy issues in higher education. Chairwoman Virginia Foxx (R-NC), as well as her Senate counterpart Chairman Lamar Alexander (R-TN) of the Senate Committee on Health, Education, Labor, and … Continue Reading

Republicans Move on Financial Deregulation; Fed Finalizes Stress Test Guidance

Legislative Activity President Trump Orders Review of Financial Regulations Last Friday, February 3, President Trump issued an Executive Order related to financial services regulatory reform (generally) and an Executive Memorandum specifically targeting the Department of Labor’s (DOL) Fiduciary Rule. The Executive Order on Core Principles for Regulating the United States Financial System directs the Secretary … Continue Reading

DOL Overtime Rule Delayed; Betsy De Vos Chosen as Secretary of Education; Rep. Virginia Foxx (R-NC) to Chair House Education Committee

Legislative Activity Representative Nancy Pelosi (D-CA) Wins House Minority Leader In a 134-63 vote on November 30, Representative Nancy Pelosi (D-CA) defeated challenger Representative Tim Ryan (D-OH) to keep her position as the House Minority Leader. She has been the Democratic leader in the House since 2002, and this was her toughest challenge since former … Continue Reading

State Attorneys General November 28 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

Perkins Re-Authorization Stalled; Legislation Introduced to Delay Overtime Rule; Department of Labor Sued by States on Overtime Rule

Legislative Activity Perkins Reauthorization Halted in the Senate After receiving overwhelming bipartisan support in the House, the Perkins Reauthorization which governs federal support for career and technical education, has been stopped in the Senate. Senator Lamar Alexander (R-TN), Chairman of the Senate Committee on Health, Education, Labor, and Pensions (HELP), originally scheduled a vote on the … 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

Fiduciary Rule and Puerto Rico in Focus for Financial Services Lawmakers; SEC, CFTC, FDIC to Hold Meetings

Legislative Activity Congressional Republicans Place DOL’s Fiduciary Rule in Crosshairs Last week, on April 19, just one day after Senate Republicans introduced a resolution to disapprove and nullify the Department of Labor’s (DOL) Fiduciary Rule, House Republicans introduced a companion resolution also targeting the rulemaking. Two days later, on April 21, the House Education and … Continue Reading

House Divided on Fiduciary Rule, Puerto Rico; CFTC Likely to Proceed on Positions Limits Despite Industry Objections

Legislative Activity Lawmakers Still Divided on Labor’s Fiduciary Rule With the Department of Labor’s (DOL) Fiduciary Rule now with the Office of Management and Budget and being prepared for release in final form later this spring, last week Speaker of the House Paul Ryan (R-WI) emphasized his opposition to the proposal, noting that he is … Continue Reading

Fiduciary Rule Still in Focus, As Financial Services Lawmakers Consider Importance of Short-Term Credit Availability

Legislative Activity House Committees Mark-Up Fiduciary Rule Legislation as Senators Introduce Companion Bills With the Department of Labor (DOL) having recently submitted its Fiduciary Rule to the Office of Management and Budget (OMB) – officially beginning the countdown before DOL’s proposal is released in final form – last week, the House Ways and Means and … Continue Reading

Puerto Rico, Fiduciary Rule At Front of Agenda; FSOC, OFR to Hold Fifth Annual Conference as SEC Considers Equity Market Structure Issues

Legislative Activity Congress Turns Focus to Puerto Rico Debt Crisis This week, House lawmakers are set to hold a hearing on Puerto Rico’s debt crisis, which is likely to kick off several weeks’ worth of debate on the matter. Importantly, in accordance with House leadership, lawmakers are expected to move legislation addressing the Commonwealth’s fiscal … Continue Reading

Congress Takes Up Financial Services Bills; SEC Expected to Move Forward with Several Regulations

Legislative Activity Senate to Consider “Audit the Fed” Legislation as House Takes Up Another Bill on Terrorism Financing This week, Congress is set to take up two financial services bills. First, on Tuesday, January 12, following continued concern regarding the need for improved congressional oversight of the Federal Reserve, the Senate will take up S. … Continue Reading

FSOC, Fiduciary Rule in Focus for Financial Services Lawmakers; SEC to Hold Open Meeting

Legislative Activity Financial Services Lawmakers to Focus on FSOC, Hold Markup This week, the House Financial Services Committee will hold an oversight hearing on the Financial Stability Oversight Council (FSOC). Notably, eight of the ten voting members will be present to testify. This hearing follows continued discussion about potential reforms to the agency, which many … 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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