Bill Pulte Confirmed as FHFA Director
Bill Pulte was confirmed by the Senate on Thursday by a vote of 56-43 to be the Director of the Federal Housing Finance Agency for a term of five years. His confirmation could come as soon...
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The Fed’s Semiannual Report to Congress
Federal Reserve Chair Jerome Powell gave his testimony during the Fed’s Semiannual Monetary Policy Report to Congress. The House and Senate hearings focused on the Fed’s efforts to cool inflation while maintaining a stable labor...
Read MoreSenators Work on Temporary Credit Card Interest Rate Cap
Senators Bernie Sanders (D-VT) and Josh Hawley (R-MO) are working on legislation that would amend the Truth in Lending Act and put a cap on credit card interest rates until 2031. In 2023, credit card...
Read MoreHUD Secretary Turner Discusses Privatizing Fannie Mae and Freddie Mac
In an interview with the WSJ, Housing and Urban Development (HUD) Secretary Scott Turner stated that HUD will be part of a task force—that will include the US Treasury and the Federal Housing Finance Agency—to...
Read MoreSenate Introduces Legislation to Change Accredited Investor Definition
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 MoreHFSC Holds Basel III Hearing
On 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 MoreHFSC Holds SEC Oversight Hearing
On 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 MoreCFPB Chopra Testifies Before SBC and HFSC
On 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 MorePrudential Regulators Testify Before HFSC and SBC
On 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 MoreSenate Banking Committee Oversight of Housing Regulators Hearing
On 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 MoreHFSC Holds Hearing with FINCEN Officials
On 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 MoreHFSC Members Send Letter to Prudential Regulators, Highlight Concerns on Securitization
On 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...
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