Tag Archives: Financial regulation

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

Three CFTC Commissioners Confirmed; Levin Plans Hearing on High-Frequency Trading & FHFA Requests Comments on Changing G-Fees

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

Senate Banking Committee Favorably Reports GSE Reform Bill to Senate Floor

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

Garrett Introduces FSOC Transparency Legislation & Governor Stein Steps Down from Federal Reserve

Legislative Activity Representative Garrett Introduces FSOC Transparency Legislation On Thursday, April 3, House Financial Services Subcommittee on Capital Markets Chairman Scott Garrett (R-NJ) introduced legislation to increase transparency at the Financial Stability Oversight Council (FSOC).  The legislation would allow all members of the Commissions and Boards represented in FSOC to participate in meetings and vote.  The … Continue Reading

Dodd-Frank Bills Unlikely to get Senate Support & Watt Nomination Blocked

Legislative Activity House Dodd-Frank Bills Unlikely to Get Senate Support Last week, the House passed two bills that would alter the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act); the first was H.R. 2374, a bill that would bill put restrictions on how and when the Department of Labor and the Securities and … Continue Reading

Shutdown Impacts Financial Regulators & Report Released on Possible Consequences of U.S. Default

Legislative Activity This Week’s Hearings: Thursday, October 10: The Senate Banking Committee is scheduled to hold a hearing titled, “Impact of a Default on Financial Stability and Economic Growth.” The presidents of the American Bankers Association (ABA), Investment Company Institute (ICI), National Association of Realtors, and Securities Industry and Financial Markets Association (SIFMA) are scheduled … Continue Reading

Announcing Housing Finance Reform Bill, FHA Reform Bill and Bill to Recreate Glass-Steagall Act Conditions

Legislative Activity House Financial Services Committee Members Announce Bill on Housing Finance Reform House Financial Services Committee Chairman Jeb Hensarling (R-TX) and Committee Members Scott Garrett (R-NJ), Randy Neugebauer (R-TX), and Shelley Moore Capito (R-WV) announced their plans to introduce the “Protecting American Taxpayers and Homeowners Act” or PATH Act to reform housing finance. Highlights … 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

FSOC Designates Several Non-Bank Institutions as Systemically Important

Legislative Activity This Week’s Hearings: Wednesday, June 12: The House Financial Services Committee will hold a hearing titled “Beyond GSEs: Examples of Successful Housing Finance Models without Explicit Government Guarantees.” Wednesday, June 12: The House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises will hold a hearing titled “Reducing Barriers to Capital Formation.” … Continue Reading