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Banking Sector Congressional Investigations & Hearings

Morrison & Foerster LLP

Congressional Investigations Outlook: What to Expect from the 119th Congress

The 119th Congress is underway, and Republicans control both chambers. With President Trump in the White House, both the House and the Senate will focus more of their oversight on the private sector. Continuing a trend over...more

Benesch

Cannabis Industry Quarterly Update: Q2 2023

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There Has Been Little Movement in Federal Legalization. This has led to cannabis investors and companies to downgrade expectations for federal legalization and focus their strategies on state reform. Federal lawmakers...more

Akin Gump Strauss Hauer & Feld LLP

Former Top Schumer Staffer Highlights Reasons To Be Optimistic About Marijuana Banking Passing This Session (Op-Ed)

With the recent reintroduction of the Secure and Fair Enforcement (SAFE) Banking Act, Congress is once again engaged in an effort to achieve a meaningful breakthrough on federal cannabis reform. Understandably, many have...more

Brownstein Hyatt Farber Schreck

CFPB Funding Structure Heads to Supreme Court in the Wake of Election

As the financial services industry continues to digest what is known so far about election results, a new twist for 2023 emerged this week when the Consumer Financial Protection Bureau (CFPB) put the question of the...more

BCLP

Priorities & Perspectives: U.S. Congressional large bank oversight hearings September 2022

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Capitol Hill saw the CEOs of the 7 largest US retail banks testify not once but twice last week. First, in the House Financial Services Committee Hearing on September 21, 2022: “Holding MegaBanks Accountable: Oversight of...more

Sheppard Mullin Richter & Hampton LLP

SAFE Banking Act of 2021: Where Are We on Cannabis Banking Change?

It is undeniable that, not only is the cannabis industry here to stay, but it is growing exponentially. To date, 47 states, 4 U.S. territories, and the District of Columbia have legalized cannabis in some form – whether they...more

Goodwin

Federal Regulators Update Senate, House on Pandemic Impact

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On November 10, 2020, the U.S. Senate Committee on Banking, Housing, and Urban Affairs held a virtual hearing entitled “Oversight of Financial Regulators.” The presenting witnesses were: Randal Quarles, Vice Chair for...more

Ballard Spahr LLP

CFPB issues Spring 2020 semi-annual report to Congress

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The CFPB has issued its Spring 2020 Semi-Annual Report to Congress covering the period September 30, 2019 through March 31, 2020. The report represents the CFPB’s fourth semi-annual report under Director Kraninger’s...more

Ballard Spahr LLP

Senate Banking Committee to hold July 29 hearing on CFPB

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On July 29, 2020, the Senate Banking Committee will meet remotely to conduct a hearing entitled “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.” CFPB Director Kraninger is the only scheduled...more

Bradley Arant Boult Cummings LLP

Senate Committee to Consider Banking Marijuana - Related Businesses - Cannabis Industry News Alert

In a surprise to some, a Republican-controlled Senate Committee has scheduled a hearing to consider the current challenges to providing financial services to cannabis-related businesses operating in states that have legalized...more

McDermott Will & Emery

House Financial Services Committee to Consider Cannabis Banking Issues

116th Congress’ first cannabis-related hearing - Next week, Congress will hold a long-awaited hearing on the future of banking in the cannabis industry. On Wednesday the 13th, the House Financial Services Committee...more

Moore & Van Allen PLLC

When Someone Shows You Who They Are, Believe Them the First Time: What a Blue Wave in the House Likely Means for Financial...

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Elections have consequences and the recent midterm elections are no exception. Having won the House majority, Democrats are expected to proceed with an ambitious agenda in January 2019. Much of the focus has been on how the...more

Goodwin

Regulators’ Implementation of the Economic Growth, Regulatory Relief and Consumer Protection Act

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On October 2, 2018, the U.S. Senate’s Banking Committee held a hearing to review regulators’ implementation of the Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155) since its passage in June. As framed...more

Proskauer - Blockchain and the Law

SEC and CFTC Chairmen Testify before Senate on Cryptoasset Regulation

Last month, SEC chairman Jay Clayton and CFTC chairman Christopher Giancarlo testified before the Senate Banking Committee on their agencies’ regulatory efforts with respect to cryptoassets and ICOs. The written testimonies...more

Ballard Spahr LLP

Congressional hearing regarding proposed financial regulation scheduled for September 7

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Congress is back in session and this Thursday, September 7, the House Subcommittee on Financial Institutions and Consumer Credit will hold a one-panel hearing entitled “Legislative Proposals for a More Efficient Federal...more

Orrick - Finance 20/20

Comptroller of the Currency Discusses Tailoring Supervisory Expectations to the Size and Complexity of Regulated Institutions

Orrick - Finance 20/20 on

On March 19, the Comptroller of the Currency, Thomas Curry, discussed the Office of the Comptroller of the Currency’s approach to tailoring regulatory and supervisory expectations to the size and complexity of supervised...more

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