Senator Tim Scott (R-SC) is proposing to change the definition of “accredited investor” to allow more Americans to participate in the private securities market. Currently, to be an accredited investor, an individual must have $1...
Read MoreOn September 25, the HFSC Financial Institutions and Monetary Policy Subcommittee held a hearing, titled “Regulatory Recipe for Economic Uncertainty: The Endless Basel Endgame and an Onslaught of Hurried Rulemaking Undertaken by the Administration.” Republicans...
Read MoreOn September 24, the House Financial Services Committee (HFSC) held a hearing with all five SEC Commissioners, titled “Oversight of the Securities and Exchange Commission.” Republicans were largely critical of the SEC’s approach to digital...
Read MoreOn June 12, Rohit Chopra, Director of the Consumer Financial Protection Bureau (CFPB) delivered his semiannual report to the Senate Banking Committee (SBC), followed by the House Financial Services Committee (HFSC) on June 13. Democrats...
Read MoreOn May 15, Michael Barr, Vice Chair of the Federal Reserve, Martin Gruenberg, Chair of the Federal Deposit Insurance Corporation, and Michael Hsu, Acting Comptroller of the Office of the Comptroller of the Currency testified...
Read MoreOn April 18, the Senate Banking Committee held a hearing with FHFA Director Sandra Thompson and Acting HUD Secretary Adrianne Todman, titled “Oversight of Federal Housing Regulators.” Members from both parties focused their attention on...
Read MoreOn February 14, the House Financial Services Committee (HFSC) held a hearing, titled “Oversight of the Financial Crimes Enforcement Network (FinCEN) and the Office of Terrorism and Financial Intelligence (TFI)” with Department of Treasury officials....
Read MoreOn January 16, 15 bipartisan Members of Congress submitted a letter to U.S. bank regulators raising concerns over plans to boost lenders' capital requirements to comply with Basel Endgame III. House Financial Services Capital Markets...
Read MoreThis week, the Biden Administration convened a committee of stakeholders from higher education, loan servicers borrowers and others, to draft a new plan for student loan forgiveness. This initiative is part of the administration’s broader...
Read MoreOn December 5, House Financial Services Committee (HFSC) Chairman Patrick McHenry (R-NC), announced that he will not be seeking re-election in 2024. McHenry most recently served as interim Speaker of the House for three weeks...
Read MoreOn December 6, the CEOs of eight of the largest U.S. banks testified before the Senate Banking Committee. The witnesses included executives from Bank of America, Goldman Sachs, Morgan Stanley, J.P. Morgan, BNY Mellon, Citigroup,...
Read MoreOn November 14, U.S. bank regulators from the Federal Reserve, FDIC, and OCC, testified before the Senate Banking Committee, followed by the House Financial Services Committee on November 15. Republican and Democratic members in both...
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