Tag Archives: federal reserve

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

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

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

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

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

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

House Lawmakers Continue Oversight of Fiduciary Rule, Fed Discusses Emergency Lending Authority

Legislative Activity House Lawmakers Continue Oversight of DOL’s Fiduciary Rule On Wednesday, December 2, the House Education and the Workforce Committee will hold a hearing titled “Principles for Ensuring Retirement Advice Serves the Best Interests of Working Families and Retirees.” This hearing comes on the heels of House lawmakers having recently adopted a proposal by … Continue Reading

House Financial Services Committee to Hold Mark-Up; Several Agencies Propose, Finalize Various Rules

Legislative Activity House Lawmakers to Mark-Up FSOC-Related Bills On Tuesday, November 3, the House Financial Services Committee will hold a mark-up of various bills, including legislation targeting the Financial Stability Oversight Council (FSOC).  Specifically, lawmakers will consider legislation to: (1) bring the FSOC within the normal appropriations process; (2) make Council meetings more open and … Continue Reading

Dodd-Frank Turns Five, Continued Focus on Fiduciary Rule

Legislative Activity Financial Services Lawmakers Hone in on Dodd-Frank Reform as Fifth-Year Anniversary Approaches As the fifth anniversary marking the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) arrives this Tuesday, July 21, financial services lawmakers are continuing to focus on ways to reform the law.  On the House side, … Continue Reading

Fiduciary Rule Under Scrutiny, Appropriators Continue Targeting Dodd-Frank

Legislative Activity Lawmakers Consider Dept. of Labor Proposed Fiduciary Rule Last week, the House Education and the Workforce Committee held its first hearing on the Department of Labor’s recently released Fiduciary Rule, which seeks to establish a new legal standard for brokers and require them to offer investors retirement advice that is in the investors’ best … Continue Reading

Federal Reserve Remains Under Scrutiny; CFTC Reopens Comment Period on Position Limits, Staff to Hold Roundtable

Legislative Activity Federal Reserve Remains Under Scrutiny This week, Congress will continue its focus on examining potential reforms to the Federal Reserve. Last week, Federal Reserve Chair Janet Yellen testified before Congress, which included discussion regarding recently introduced legislation to audit the Federal Reserve’s monetary policy decision-making. This week, the scrutiny will continue as the … Continue Reading
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