Democratic members of the Senate Banking Committee today released a much narrower regulatory relief bill offered as an alternative to the sweeping bill by committee Chairman Richard Shelby (R-Ala.). Shelby’s bill is set to be considered by the committee on Thursday.
ABA and other trade groups sent a letter to the committee on Friday thanking Senate Banking Committee Chairman Richard Shelby (R-Ala.) for drafting his regulatory relief proposal, describing it as an “important step toward addressing the statutory and regulatory obstacles that stymie banks and credit unions from more fully serving the diverse financial needs of American consumers.”
ABA last week filed its second comment letter in response to the decennial EGRPRA regulatory burden review that the federal banking agencies must conduct.
The House Agriculture Committee yesterday passed a reauthorization bill for the Commodity Futures Trading Commission. ABA successfully advocated for the inclusion of an amendment that would provide an exemption for derivatives clearing for small bank holding companies.
The rush to implement the TILA-RESPA integrated mortgage disclosures on Aug. 1 poses risks to customers, Cindy Lowman told a House Financial Services Committee panel today.
Federal Reserve Governor Jerome Powell today acknowledged that many post-financial crisis regulations not aimed at community banks are nonetheless affecting them.
Senate Banking Committee Chairman Richard Shelby (R-Ala.) today released a draft of a sweeping financial reform bill that would provide regulatory relief for banks of all sizes, tailor the regulatory structure for systemically important banks and begin restructuring within the Federal Reserve System and at Fannie Mae and Freddie Mac.
In a speech today at a Washington, D.C., think tank, FDIC Chairman Martin Gruenberg described the “impressive” progress the FDIC and Federal Reserve have made toward building a regulatory structure to resolve a failing systemically important financial institution.
Financial institutions and other businesses need protection from abusive patent trolls, ABA and several trade groups said in a statement for the record for a Senate Judiciary Committee hearing yesterday.
In an April 22 letter released today, Consumer Financial Protection Bureau Director Richard Cordray declined congressional appeals to provide a grace period for enforcement of the TILA-RESPA integrated disclosures that come into force on Aug. 1.