On October 3, Rep. Kevin McCarthy (R-CA) was removed as speaker of the House by both sides of the aisle, as eight Republicans joined all Democrats in a historic 216-210 vote to vacate the seat....
Read MoreJudge Matthew Kacsmaryk of the U.S. District Court for the Northern District of Texas, ruled in favor of the Department of Labor’s (DOL’s) 2022 rule, which allows retirement fund managers to consider environmental, social, and governance (ESG)...
Read MoreOn September 27, SEC Chair Gary Gensler testified before the House Financial Services Committee (HFSC). He addressed questions regarding AI, crypto, and the Commission’s proposals on swing pricing and predictive data analytics. Additionally, Gensler was...
Read MoreThe Senate Committee on Banking, Housing and Urban Affairs held a hearing on September 12, with SEC Chairman Gary Gensler, titled “Oversight to the U.S. Securities and Exchange Commission”. Democrats praised Gensler for his oversight...
Read MoreOn September 14, the House Financial Services Committee (HFSC) held a Subcommittee hearing on Financial Institutions entitled, “Implementing Basel III: What’s the Fed’s Endgame?” The hearing focused on the recent proposed rulemaking from prudential regulators...
Read MorePolitical pundits anticipate difficulties in advancing banking related legislation amid the recent Basel III endgame proposal which is expected to increase the capital requirements for the largest institutions. Both chambers have returned from recess to...
Read MoreThis week the U.S. Senate overwhelmingly expressed support by a vote of 88-10 to confirm Philip Jefferson as the Federal Reserve Board’s next Vice Chair. He succeeds Lael Brainard, who departed the Fed earlier this...
Read MoreOn June 30, the Biden Administration announced a repayment plan for federal student loan borrowers, known as the Saving on a Valuable Education (SAVE) plan. SAVE is an income-driven repayment plan, under which borrowers will...
Read MoreOn August 1, Rep. Andy Barr (R-KY) and Rep. Ann Wagner (R-MO) wrote to the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC) and the Federal Reserve, concerning the...
Read MoreOn July 18, the HFSC Capital Markets Subcommittee held a hearing with Erik Gerding, Director of the SEC’s Division of Corporation Finance, serving as the sole witness. The SEC’s Conflicts of Interest proposed rule was...
Read MoreHouse Financial Services Committee Chairman Patrick McHenry, (R-NC) along with Representatives Andy Barr (R-KY),Bill Huizenga (R-MI), and Senate Banking Committee Ranking Member Tim Scott (R-SC), led a bicameral group of 132 members of Congress in...
Read MoreOn June 23, the House of Representatives passed the “Middle Class Borrower Protection Act of 2023,” legislation sponsored by Rep. Warren Davidson (R-Ohio) that aims to rescind the controversial changes to loan-level pricing adjustments (LLPA)...
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