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Financial Services Industry › Senate Banking Committee › Financial Institutions

Ballard Spahr LLP

Jonathan Gould confirmed as Comptroller of the Currency

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The Senate has confirmed Jonathan Gould as Comptroller of the Currency. Gould, who served as Senior Deputy Comptroller and Chief Counsel at the OCC during President Trump’s first term, was confirmed 50-45. Every Democrat...more

Ballard Spahr LLP

Trump to nominate CFPB nominee to Treasury Department position

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Treasury Secretary Scott Bessent announced May 9 that President Trump intends to nominate Jonathan McKernan, his nominee to head the CFPB, as the Undersecretary of Domestic Finance at Treasury....more

Ballard Spahr LLP

Banking Committee sends nomination of Jonathan McKernan as CFPB Director to full Senate

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The Senate Banking Committee on March 6 approved the nomination of Jonathan McKernan to be Director of the Consumer Financial Protection Bureau. ...more

Sheppard Mullin Richter & Hampton LLP

New CFPB Director Testifies on Agency Leadership and Enforcement Approach

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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

Orrick, Herrington & Sutcliffe LLP

Jonathan Gould nominated to be Comptroller of the Currency

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On February 11, the White House announced Jonathan Gould’s nomination as Comptroller of the Currency. Recently, Rodney E. Hood was named Acting Comptroller of the Currency effective February 10....more

Ballard Spahr LLP

Democratic Senators continue to pressure Zelle and other payment apps to change fraud policies

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On February 15, 2024, Senators Sherrod Brown (D-OH), Jack Reed (D-RI) and Elizabeth Warren (D-MA) sent a letter to Zelle seeking clarification of its reimbursement policy for victims of imposter scams and urging Zelle to...more

McGlinchey Stafford

SAFER Act: Marijuana May Soon Become a Bigger Deal

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Proponents of marijuana reform have had cause for celebration in 2023. Despite challenges facing the industry, the political and social momentum surrounding cannabis is ticking upward. Most recently, the marijuana industry...more

Cadwalader, Wickersham & Taft LLP

Congressional Hearings Calling Federal Regulators to Task for Recent Bank Failures

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Both the Senate Banking Committee and House Financial Services Committee held hearings this week on the federal regulatory response to the failures of Silicon Valley Bank (“SVB”) and Signature Bank. Witnesses at both hearings...more

Morgan Lewis

Senate Banking Committee Members Propose Fair Access to Financial Services Act

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Members of the US Senate Banking Committee recently introduced a bill to create the Fair Access Financial Services Act of 2020, which is aimed to make any practice of discrimination by a financial institution on the grounds...more

Carlton Fields

Credit Unions Ask Senate Banking Committee to Make Cannabis Banking Safe

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In the latest chapter of the ongoing saga of the U.S. Senate’s consideration and hopeful passage of the Secure and Fair Enforcement (SAFE) Banking Act, on February 7, 2020, the Credit Union National Association (CUNA) sent a...more

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