Tag Archives: Late-2000s financial crisis

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

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

The Future of Fannie and Freddie & FSOC Releases Annual Report

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

Senate Postpones Markup of GSE Reform Bill & FSOC To Adopt New Annual Report

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

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

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

Congress Examines A Series of Regulatory Reports

Legislative Activity Congress Examines A Series of Regulatory Reports Last week, the Senate Committee on Banking, Housing, and Urban Affairs held a hearing to explore the annual report and oversight of the Department of Treasury’s Office of Financial Research (OFR) and the House Financial Services Committee probed Consumer Financial Protection Bureau (CFPB) Director Richard Cordray … 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

TRIA Gets Congress’ Attention; FACI Holds Open Meeting

Legislative Activity Terrorism Risk Insurance Reauthorization Gets Congress’ Attention Last week the House Financial Services Committee addressed the issue of reauthorization of the Terrorism Risk Insurance Act (TRIA), with committee Chairman Jeb Hensarling (R-TX) stating he felt “skeptical” about the need for reauthorization. This week, the Senate Banking Committee will address the issue with a … Continue Reading

Senate Banking Committee To Address Housing Finance Reform

Legislative Activity Senate Banking Committee To Address Housing Finance Reform On Thursday, September 12 the Senate Banking Committee held a hearing titled, “Essential Elements of Housing Finance Reform.” During the hearing, the Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) stated that the committee plans to hold hearings focused on housing finance reform … 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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