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Troutman Pepper Locke

Digital Asset CLARITY Act Heads to House Floor

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On Tuesday, June 10, the House Committees on Agriculture and Financial Services both favorably reported to the House H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act (as amended). Both committees gave overwhelmingly...more

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Financial Services Committee Republicans call on CFPB to withdraw rules, guidance

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Republicans on the House Financial Services Financial Institutions Subcommittee have sent Acting CFPB Director Russell Vought a letter calling for the CFPB to withdraw a wide variety of final and proposed rules....more

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Republicans ask federal banking agencies to withdraw rules, guidance

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Republicans on the House Financial Services Committee have sent letters to financial regulators asking them to rescind a variety of measures the regulators issued during the Biden Administration....more

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House Subcommittee to hold Wednesday hearing on role of CFPB

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The House Financial Services Committee’s Financial Institutions Subcommittee will hold a hearing on Wednesday, March 26, to discuss possible changes to the structure and responsibilities of the CFPB....more

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House Committee adopts resolution to nullify CFPB overdraft rule

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The House Financial Services Committee on March 5 took the first step toward repealing the CFPB’s overdraft rule, adopting a resolution under the Congressional Review Act. ...more

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Congressional Democrats accuse Trump Administration of ‘incursion’ at the CFPB

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More than 185 Democrats in the House and Senate are urging Trump Administration officials to restore the enforcement and supervisory powers of the CFPB....more

Troutman Pepper Locke

CFPB Releases Semiannual Regulatory Agenda Amid House Financial Services Committee Leaders’ Calls to Halt Rulemaking

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This week, the Consumer Financial Protection Bureau (CFPB or Bureau) released its semiannual regulatory agenda, outlining its planned rulemaking initiatives. This agenda includes a mix of rules in the pre-rulemaking, proposed...more

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Republican leaders of House Financial Services Committee tell CFPB to stop issuing final rules

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The current and incoming Republican leaders of the House Financial Services Committee have asked financial regulators, including the CFPB, to stop “finalizing partisan rulemaking” over the next several weeks....more

Mayer Brown

Fed Chair Powell's Update on Basel Endgame

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Join us for the latest episode of Financial Services Focus for a discussion of Federal Reserve Chair Jerome Powell’s recent Humphrey-Hawkins testimony before the House Financial Services Committee and Senate Banking...more

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CFPB’s credit card late fee final rule and overdraft and NSF fee proposed rulemaking expected prior to President Biden’s March 7th...

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Speaker of the House Mike Johnson (R-LA) has invited President Joe Biden to give his State of the Union address to a Joint Session of Congress on Thursday, March 7, 2024. The invitation was immediately accepted by President...more

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CFPB Fall 2023 rulemaking agenda indicates imminent issuance of final credit card late fees rule and proposed rules on overdraft...

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The CFPB has released its Fall 2023 rulemaking agenda as part of the Fall 2023 Unified Agenda of Federal Regulatory and Deregulatory Actions.  The agenda’s preamble indicates that “[t]he Bureau reasonably anticipates having...more

Orrick, Herrington & Sutcliffe LLP

House Republicans question CFPB’s card late-fee proposal

On March 1, several Republican House Financial Services Committee members sent a letter to CFPB Director Rohit Chopra expressing concerns over the Bureau’s credit card late fee proposal. ...more

Orrick, Herrington & Sutcliffe LLP

House committees move forward on data privacy

On March 1, the House Subcommittee on Innovation, Data, and Commerce, a subcommittee of the House Energy and Commerce Committee, held a hearing entitled “Promoting U.S. Innovation and Individual Liberty through a National...more

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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

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House Financial Services Task Force on Financial Technology to hold Nov. 21 hearing on the role of big data

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The Task Force on Financial Technology of the House Financial Services Committee has scheduled a hearing entitled “Banking on Your Data: The Role of Big Data in Financial Services” on November 21, 2019. The Task Force is...more

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Inside the Beltway: Impeachment Inquiry Fuels Gridlock

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The prospect of the U.S. Congress acting on housing reform this year remains unlikely. The House Democrats’ determination to formalize the impeachment inquiry into President Trump’s involvement with Ukraine and begin public...more

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Inside the Beltway – Housing Finance Reform Update

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The U.S. Department of the Treasury and the Department of Housing released the much-anticipated housing finance reform plan to reduce the government’s role in housing and end government control of both Fannie Mae and Freddie...more

Jones Day

House Financial Services Committee Creates Task Forces to Examine Fintech and AI Regulation

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The new task forces will hold hearings, conduct investigations, and issue reports to the full HFSC about the task forces' findings and recommendations - The House Financial Services Committee ("HFSC") recently passed...more

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House Financial Services Committee establishes financial technology and artificial intelligence task forces

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Last week, the House Financial Services Committee established two task forces, one on financial technology and the other on artificial intelligence.  Both task forces were established pursuant to resolutions adopted by...more

Burr & Forman

U.S. House of Representatives Launches FinTech and Artificial Intelligence Task Forces

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On May 9, 2019, the House Financial Services Committee voted to establish two task forces dedicated to studying technological innovations that impact the financial services arena: a FinTech Task Force and an Artificial...more

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House Financial Services Committee hearing on CFPB highlights continuing partisan divide

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Yesterday’s hearing on the CFPB held by the House Financial Services Committee highlighted the continuing partisan divide over the CFPB’s implementation of its consumer protection mission but with Democratic and Republican...more

Robinson+Cole Data Privacy + Security Insider

U.S. Moves Ahead with Federal “Fintech Sandbox” — CFPB Announces Creation of Office of Innovation

In an effort to promote the development of new financial technology (fintech) products, Mick Mulvaney, acting director of the Consumer Financial Protection Bureau (CFPB), announced last week the creation of the Office of...more

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