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
Legislative Activity DOL’s Fiduciary Rule in Focus as SEC Announces Delay With many lawmakers still opposed to the Department of Labor’s (DOL) Fiduciary Rule, this week both the House Financial Services and Ways and Means Committee will tackle the issue. The House Financial Services Committee will hold a markup on Wednesday of legislation to require … Continue Reading
Legislative Activity Financial Services Lawmakers Hone in on Dodd-Frank Reform as Fifth-Year Anniversary Approaches Last week, the Senate Appropriations Committee passed along party lines in a 16-14 vote a $20.6 billion financial services appropriations package into which Republican appropriators inserted Senate Banking Committee Chairman Richard Shelby’s (R-AL) financial services regulatory reform bill. While the bill … Continue Reading
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
Legislative Activity Senate Banking Committee Likely to Let Export-Import Bank Lapse, Timing Unclear for Regulatory Relief Last week, Senate Banking Chairman Richard Shelby (R-AL) noted that he does not “see any crying-out need for a markup” of legislation to reauthorize the Export-Import Bank, making clear that he has no plans to markup the legislation that … Continue Reading
Legislative Activity Senate Banking Committee Schedules Markup on Regulatory Relief for Community and Regional Banks Chairman Richard Shelby (R-AL) has announced that the Committee will hold a markup on May 14 to consider proposals that would provide regulatory relief to community and regional banks. Despite earlier concerns to the contrary, it appears that Chairman Shelby … Continue Reading
Legislative Activity Lawmakers to Consider Oversight of Several Agencies This week, both the House Financial Services Committee and the Senate Banking Committee are slated to hold several hearings focused on oversight efforts of several agencies. The Senate Banking Committee will hold a hearing to review accountability of the Financial Stability Oversight Council (FSOC) as relates … Continue Reading
Legislative Activity Lawmakers Discuss FSOC Oversight On Wednesday, September 17, the House Financial Services Subcommittee on Oversight and Investigations held a hearing titled “Oversight of the Financial Stability Oversight Council.” During the hearing, Members emphasized the importance of transparency within the Financial Stability Oversight Council (FSOC) and called for increased due process and accountability. At … Continue Reading
Legislative Activity Senate Banking Committee Favorably Reports GSE Reform Bill to Senate Floor On May 15, the Senate Banking Committee voted 13-9 to favorably report the Housing Finance Reform and Taxpayer Protection Act of 2013 (S. 1217), to the Senate floor. However, as mentioned in previous coverage, despite being reported out of Committee, it remains uncertain … Continue Reading
Legislative Activity Senate Banking Committee Postpones Markup of GSE Reform Bill On Tuesday, April 29, the Senate Banking Committee announced that it was postponing the markup of legislation to reform the government-sponsored enterprises (GSEs), the “Housing Finance Reform and Taxpayer Protection Act of 2013” (S. 1217). According to Chairman Tim Johnson (D-SD), “[w]hile we have the … Continue Reading
