With the country having passed a grim milestone Wednesday with the 100,000th death from coronavirus, the US House of Representatives will vote today on bipartisan legislation to provide additional flexibility under the March 27 CARES Act’s Paycheck Protection Program (PPP) for businesses reeling from the economic shutdown. For perhaps the first time since the pandemic … Continue Reading
Legislative Activity Banking Committee Set to Mark-Up Legislative Package of Financial Regulatory Reform As we highlighted last week, this Thursday, May 21, the Senate Banking Committee is scheduled to hold a markup of Chairman Richard Shelby’s (R-AL) highly-anticipated legislative package of financial regulatory reform. Chairman Shelby last week released a draft of his legislation, which … Continue Reading
Legislative Activity Financial Services Committee to Consider Legislative Proposals as Banking Committee Prepares for Delayed Markup The Senate Banking Committee has rescheduled its markup of legislation to reform aspects of the financial services industry for May 21. While exactly what will be contained in the final legislation is unclear – and subject to change – … Continue Reading
Legislative Activity Senate to Vote on TRIA Reauthorization Bill, Federal Reserve Membership This week, the Senate is expected to consider a bill (S. 2244) that would reauthorize the Terrorism Risk Insurance Act (TRIA) for seven years, while making few changes to the current program. On July 10, Senate leadership agreed to a list of four … Continue Reading
Legislative Activity Senate Confirms Three CFTC Commissioners, House To Take Up CFTC Reauthorization Bill On June 3, the Senate confirmed Timothy Massad as Chairman and Sharon Bowen and J. Christopher Giancarlo as Commissioners at the Commodity Futures Trading Commission (CFTC). Chairman Massad was sworn in to his new office on June 5. It is expected … Continue Reading
Legislative Activity Senate Banking Committee Likely to Markup GSE Reform Bill It appears as if the Senate Banking Committee is likely to hold a markup of legislation to reform the government-sponsored enterprises (GSEs), the “Housing Finance Reform and Taxpayer Protection Act of 2013” (S. 1217), this week; however, given the fluid nature of the situation, the … Continue Reading
On Tuesday, December 10, the Senate completed a series of procedural votes on the nomination of Rep. Mel Watt (D-NC) to head the Federal Housing Finance Agency (FHFA), voting 57-41 to confirm Rep. Watt as Director of the FHFA. The vote broke mostly along party lines. As Director, Rep. Watt has the authority to establish … Continue Reading
