News & Analysis as of July 23, 2025

Senate Banking Committee

+ Follow

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions. less -

Budget bill includes huge cuts to CFPB budget

Ballard Spahr LLP on 7/8/2025

The budget bill signed by President Trump on July 4 will make massive cuts to the CFPB’s budget. The huge bill changes the amount that the CFPB may receive from the Federal Reserve from a maximum of 12% of the Fed’s...more

Senate Republicans get Parliamentarian’s approval to slash CFPB funding in massive budget bill

Ballard Spahr LLP on 6/27/2025

Senate Banking, Housing and Urban Affairs (Banking Committee) Republicans have received the Senate Parliamentarian’s approval to cut the CFPB’s funding. As a result, in the large budget reconciliation bill now being written...more

Senate Parliamentarian says elimination of CFPB funding cannot be included in budget bill but delay of Section 1071 rule passes...

Ballard Spahr LLP on 6/23/2025

The Senate parliamentarian has ruled that a key Senate Banking, Housing and Urban Affairs (Banking Committee) provision that would eliminate all funding for the CFPB cannot be included in the massive budget reconciliation...more

Senate Banking Republican reconciliation bill would eliminate CFPB funding source

Ballard Spahr LLP on 6/11/2025

The Senate Banking, Housing and Affairs Committee (Banking Committee) would eliminate the CFPB’s current funding source, as part of Committee’s Republican version of its part of the massive budget reconciliation bill,...more

GAO and OIG to Investigate the CFPB's Recent Staff Reductions

Holland & Knight LLP on 5/1/2025

U.S. Sen. Elizabeth Warren (D-Mass.), on behalf of 40 Democratic Senators, wrote a letter to CFPB Acting Director Russell Vought on April 28, 2025, expressing "grave concerns" about the agency's ability to fulfill more than...more

New CFPB Director Testifies on Agency Leadership and Enforcement Approach

Sheppard Mullin Richter & Hampton LLP on 3/3/2025

On February 27, new CFPB Director Jonathan McKernan testified before the Senate Banking Committee, emphasizing his commitment to enforcing the law while operating within the confines of the law. His testimony focused on his...more

Director Kraninger testifies at House and Senate hearings

Ballard Spahr LLP on 10/18/2019

CFPB Director Kraninger was the sole witness at a House Financial Services Committee hearing thsi week on the Bureau’s Spring 2019 semi-annual report and at a Senate Banking Committee hearing yesterday on the report. ...more

Democrats criticize Director Kraninger at Senate Banking Committee hearing

Ballard Spahr LLP on 3/13/2019

Director Kraninger was sharply criticized by Democrats at today’s hearing on the Bureau’s semi-annual report held by the Senate Banking Committee....more

Senate Banking Committee Probes Mulvaney’s Leadership at the CFPB

Ballard Spahr LLP on 4/13/2018

On April 12, 2018, Mick Mulvaney, the Acting Director of the Consumer Financial Protection Bureau (Bureau) testified before the Senate Committee on Banking, Housing, and Urban Affairs regarding the Bureau’s Semi-Annual Report...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 12/6/2017

The Senate Banking Committee has voted out of committee a bipartisan effort to ease Dodd-Frank regulations. The bill in question could “drastically cut” the number of banks subject to heightened Fed oversight and “would ease...more

Lawmakers announce plans to use CRA to overturn CFPB arbitration rule

Ballard Spahr LLP on 7/12/2017

Two Republican Senators, Mike Crapo (who chairs the Banking Committee) and Tom Cotton (a Banking Committee member), have announced plans to draft a resolution of disapproval to overturn the CFPB’s final arbitration rule under...more

PHH files supplemental response to CFPB’s rehearing petition; opposes state AGs’ motion to intervene

Ballard Spahr LLP on 1/31/2017

This past Friday, PHH filed a supplemental response to the CFPB’s petition for en banc rehearing and a response opposing the motion filed by Democratic Attorneys General of 16 states and the District of Columbia to intervene...more

Democratic lawmakers, consumer advocacy groups seek to intervene in PHH appeal

Ballard Spahr LLP on 1/27/2017

This past Monday, the Democratic Attorneys General of 16 states and the District of Columbia filed a motion with the D.C. Circuit seeking to intervene in the PHH appeal. Today, two more motions to intervene were filed. One...more

Director Cordray defends CFPB positions in appearance before Senate Banking Committee; comments on small business lending and...

Ballard Spahr LLP on 4/8/2016

Much of Director Cordray’s testimony in his appearance before the Senate Banking Committee yesterday consisted of his predictable defense of various CFPB positions. While the hearing was much less contentious than last...more

Director Cordray to appear before Senate Banking Committee on April 23

Ballard Spahr LLP on 4/18/2013

The Senate Banking Committee has announced that on April 23, 2013, it will conduct a hearing on the CFPB’s third Semi-Annual Report to Congress. CFPB Director Richard Cordray is the only witness scheduled to appear....more

15 Results

View per page

Page: of 1

Dodd-Frank Wall Street Reform and Consumer Protection Act › Consumer Financial Protection Bureau (CFPB) › Senate Banking Committee

"My best business intelligence, in one easy email…"