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Proposed Legislation Dodd-Frank Wall Street Reform and Consumer Protection Act Regulatory Oversight

Ballard Spahr LLP

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

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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

Ballard Spahr LLP

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

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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

Ballard Spahr LLP

Senate Banking Republican reconciliation bill would eliminate CFPB funding source

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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

Holland & Knight LLP

U.S. House of Representatives Approves 70 Percent Cut to CFPB Funding

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The U.S. House of Representatives has passed an extensive budget reconciliation bill that would reduce the CFPB budget by 70 percent. In a 215-214 vote along party lines, the budget cut first approved by the House Committee...more

Ballard Spahr LLP

Dramatic changes to CFPB proposed by House not part of appropriations bill under consideration by Senate

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According to media reports, the Senate was scheduled to begin debate yesterday afternoon on H.R. 6167, the “Interior, Environment, Financial Services, and General Government Appropriations Act, 2019.”...more

Stinson - Corporate & Securities Law Blog

Hensarling Pressures Senate to Negotiate Dodd-Frank Reform

On March 14, 2018, the Senate passed the Economic Growth, Regulatory Relief and Consumer Protection Act which has been billed as Dodd-Frank reform. Some refer to it as the “Crapo bill”, which is a reference to its sponsor,...more

Ballard Spahr LLP

Senate passes banking bill providing Dodd-Frank relief

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The U.S. Senate on March 14 passed S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), by a vote of 67 to 31. ...more

Ballard Spahr LLP

Senate Passes Banking Bill Providing Dodd-Frank Relief

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The U.S. Senate on March 14 passed S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), by a vote of 67 to 31. Although the Act would not make the sweeping changes to the Dodd-Frank Act found...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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There’s falling from grace, and then there’s Elizabeth Holmes. Once compared glowingly to Steve Jobs, Holmes’ well-documented Theranos ills (including exaggerated and faked blood-test results) have landed her with SEC...more

Stinson - Corporate & Securities Law Blog

U.S. House of Representatives Pass Bill That Would Dismantle Many Aspects of Dodd-Frank

On June 8, 2017, the U.S. House of Representatives passed the Financial CHOICE Act, a bill designed to replace many of the financial regulations imposed by Dodd-Frank. Among other things, the Financial CHOICE Act would...more

Ballard Spahr LLP

Senate Leader Mitch McConnell skeptical of Dodd-Frank reform

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In a recent Bloomberg interview, Senate Majority Leader Mitch McConnell expressed skepticism about the Senate’s ability to pass meaningful Dodd-Frank reform.  After months of inactivity, the House Financial CHOICE Act finally...more

Ballard Spahr LLP

The Financial CHOICE Act, now closer to passage, would significantly impact the mortgage industry

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On May 4 H.R. 10, the Financial CHOICE Act (the Act) introduced by House Financial Services Committee Chairman Jeb Hensarling, R-Texas, obtained enough votes to move the bill on to the House of Representatives floor.  The Act...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Mega luxury brand news yesterday, as LVMH announced a series of moves that, combined with $13.1 billion, helped it take over the 70-year-old French fashion house Christian Dior....more

Ballard Spahr LLP

Witnesses announced for April 26 House CHOICE Act hearing

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The House Financial Services Committee has released the witness list for the hearing it will hold this Wednesday, April 26, 2017, to discuss the Financial CHOICE Act....more

Ballard Spahr LLP

Additional CHOICE Act changes proposed by Chairman Hensarling would further reduce CFPB’s power

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On February 6, House Financial Services Committee Chairman Hensarling circulated a memorandum to the House Financial Services Committee Leadership Team describing key revisions to the Financial Choice Act. Last week, he...more

Cadwalader, Wickersham & Taft LLP

Signs, Signs, Everywhere a Sign: Changes in Store for SEC Enforcement under the Trump Administration

Even before President Trump’s nomination of Jay Clayton as the next Chairman of the Securities and Exchange Commission (“SEC” or “Commission”), signs have been appearing that changes are afoot within the Division of...more

Ballard Spahr LLP

Competing House and Senate bills aim to eliminate or reform the CFPB

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Although the Trump Administration has largely been silent with respect to Dodd-Frank and the future of the CFPB, some members of Congress have been very active in proposing significant legislative changes. Several measures to...more

Polsinelli

House GOP Chairman Outlines New Dodd-Frank Reforms - Revised Replacement Bill Forthcoming

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A newly leaked memo from U.S. House of Representatives Financial Services Committee Chairman Jeb Hensarling (R-TX) to the Committee’s leadership team has provided stakeholders in the banking industry with a preview of major...more

Ballard Spahr LLP

House Financial Services Committee Chairman Hensarling Proposes Changes to the CHOICE Act.

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On Monday, Chairman Hensarling circulated a memorandum to the House Financial Service Committee Leadership Team suggesting key revisions to the CHOICE Act. It only addresses proposed changes to the CHOICE Act; several key...more

Ballard Spahr LLP

Democratic leadership plans to oppose change in CFPB structure

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As Inauguration Day approaches, the rhetoric about the CFPB’s future continues to heat up.  American Banker reported that, on a conference call with reporters earlier this week, Senate Minority Leader Charles Schumer stated...more

Carlton Fields

Dodd-Frank in a Trump Administration

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During the recent campaign, President-elect Donald Trump pledged to repeal the Dodd-Frank Act (DFA) if elected, criticizing the regulatory burdens it imposed and contending that it discouraged lending by banks and impaired...more

Polsinelli

Chairman Hensarling Open to Revised Financial CHOICE Act

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On November 15th, House Financial Services Committee Chairman Jeb Hensarling (R-TX) signaled that he is willing to consider changes to a reintroduced Financial CHOICE Act next year as a newly elected and party-unified...more

Sullivan & Worcester

Financial Regulatory Reform — It's Coming, Unless it Doesn't

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Many Unknowns - If you're like me, you are constantly receiving alerts from consultants, law firms, policy shops and others, all predicting how the Trump Administration is going to dramatically change, or even gut,...more

Carlton Fields

What Might Be the Future of the Dodd -Frank Act’s Insurance and Reinsurance- Related Provisions in a Trump Administration?

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During the recent election campaign, President-elect Donald Trump pledged to repeal the Dodd-Frank Act if elected, criticizing the regulatory burdens it imposed on different portions of the financial services sector and...more

Ballard Spahr LLP

House Committee approves Dodd-Frank replacement bill

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By a vote of 30-26 earlier this week, the House Financial Services Committee approved the “The Financial CHOICE Act of 2016” (H.R. 5983), the bill released in July 2016 by Committee Chairman Jeb Hensarling to replace the...more

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