Tag Archives: Dodd–Frank Wall Street Reform and Consumer Protection Act

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 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

Lawmakers Take on Targeted Financial Services Bills, Focus on Flood Insurance

Legislative Activity Financial Services Lawmakers Continue Work on Flood Insurance After Last Week’s Mark-Ups The House Financial Services and Senate Banking Committees last week advanced various pieces of legislation, including bills that would extend to investment companies operating in Puerto Rico and all the U.S. territories the same rules as those that apply on the … 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

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

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

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

Lawmakers Tackle Puerto Rico, CFTC; FSOC to Meet on Asset Managers

Legislative Activity Senate Agriculture Committee Votes to Reauthorize CFTC Following a Senate Appropriations hearing last week to review the FY17 Budget Requests for the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), on Thursday, April 14, the Senate Agriculture Committee voted 11-9, to reauthorize the CFTC. Though the timing of Senate … 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

Lawmakers May Extend TRIA, PSI to Hold Hearing on Wall-Street Banks

Legislative Activity Lawmakers May Extend TRIA and Consider Insurance Capital Standards in the Lame Duck As Congress returns to Washington, lawmakers may focus on a few agenda items beyond appropriations legislation. Particularly, Congress may look at reauthorizing the Terrorism Risk Insurance Act (TRIA), at least through a short-term extension.  Earlier this year, the House Financial … Continue Reading

Senate Passes TRIA Reauthorization Bill;Timing of House Version Unclear

Legislative Activity Senate Passes TRIA Reauthorization Bill; Timing of House Version Unclear On July 17, the Senate voted 93-4 to pass S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014. The bill reauthorizes the Terrorism Risk Insurance Act (TRIA) for seven years while making few changes to the current program. Shortly after the Senate passed … Continue Reading

House To Vote On CFTC Reauthorization Bill & SEC To Vote on Cross-Border Swaps Rules

Legislative Activity House To Vote On CFTC Reauthorization Bill This week, the House is expected to debate and vote on the reauthorization of the Commodity Futures Trading Commission (CFTC) through September 2018 (H.R. 4413). Additionally, while the Senate Agriculture Committee has yet to unveil its CFTC reauthorization bill, the level of bipartisan support that H.R. 4413 receives … Continue Reading

Vote on CFTC Reauthorization Bill; Confirmation of Federal Reserve Nominees & TRIA Bill

Legislative Activity House to Vote on CFTC Reauthorization Bill This week, the House of Representatives is expected to take up H.R 4413, a bill that would reauthorize the Commodity Futures Trading Commission (CFTC) through September 2018. On June 13, House Rules Committee Chairman Pete Sessions(R-TX) asked Members to submit any amendments by Tuesday, June 15. The House bill would make several changes to the Dodd-Frank Wall Street … Continue Reading

GSE Legislation Introduced & Senate Confirms Contreras-Sweet to SBA

Legislative Activity Waters Introduces GSE Legislation On Thursday, March 27, House Financial Services Committee Ranking Member Maxine Waters (D-CA) released a proposal to reform the Government-Sponsored Enterprises (GSEs).  Ranking Member Waters’ proposal, the HOME Forward Act of 2014, would wind down the GSEs and replace them with a new government agency that would oversee a fund … Continue Reading

Johnson and Crapo release GSE Reform Draft & SEC Hold Roundtable on Cybersecurity

Legislative Activity Johnson and Crapo Release GSE Reform Draft On March 16, 2014, Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) released a draft legislation to reform the Government-Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac  (the section-by-section of the legislation can be found here, and a detailed summary can … Continue Reading

House Approves PATH Act; FHA Reform; Banks’ Involvement in Commodities and Warehousing & Detroit Bankruptcy

Legislative Activity House Financial Services Committee Sends PATH Act to the Floor The House Financial Services Committee approved the Protecting American Taxpayers and Homeowners Act of 2013, also known as the PATH Act (H.R. 2767). The PATH Act now awaits consideration by the House. The housing finance reform bill includes provisions to wind-down the government … Continue Reading

House to Set CFTC Budget & Mark Up Dodd-Frank Modification Bills

Legislative Activity Administration Nominations to be Considered this Week On Thursday, June 27, the Senate Banking Committee will hold a hearing to consider several of President Obama’s nominations, including Rep. Mel Watt (D-NC) to be Director of the Federal Housing Finance Agency (FHFA); Kara Stein and Mike Piwowar to be Commissioners at the Securities and … Continue Reading

House Passes Derivatives Bills & CFTC Commissioners Speak Out on Looming Cross Border Deadline

Legislative Activity House Passes Derivatives Bills Last Wednesday, June 12, the House passed several bills related to certain derivatives and swaps regulation provisions under the Dodd-Frank Act. Included among the bills was H.R. 1256, a controversial proposal that would direct the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) to adopt a … Continue Reading
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