News & Analysis as of

Proposed Legislation Financial Services Committee

Paul Hastings LLP

GENIUS Act Clears Senate, SEC Withdraws Proposed Rules and Bitcoin Reserve Bill Introduced

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The Senate passed the GENIUS Act with bipartisan support, marking a significant step forward in advancing stablecoin legislation. Legislative action on stablecoins will now move to the House of Representatives. The House...more

Paul Hastings LLP

CLARITY and GENIUS Acts Advance, SEC DeFi Roundtable and OCC Agenda Drive Policy Momentum

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The digital asset policy landscape developed on multiple fronts this week. The House Financial Services and Agriculture Committees voted to advance the CLARITY Act, a bipartisan proposal to establish a regulatory framework...more

Ballard Spahr LLP

House Financial Services Committee approves ‘trigger leads’ bill

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The House Financial Services Committee has approved a bill that would restrict the use of “trigger leads” in the mortgage industry. ...more

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

Ballard Spahr LLP

Budget bill would cut CFPB funding

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The huge FY26 budget reconciliation bill, H.R. 1, dubbed the “One Big Beautiful Bill Act,” contains provisions that would slash CFPB spending....more

Jones Day

Regulating Digital Assets: New Market Structure Bill Builds on FIT21 Framework

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The House Committees on Financial Services and Agriculture have unveiled a discussion draft for a new comprehensive U.S. crypto market structure bill, aiming to establish clear regulatory boundaries between the U.S....more

Fenwick & West LLP

New Digital Asset Regulatory Framework: Analysis of the Latest Discussion

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In a significant development for the digital asset industry, Republican lawmakers from the U.S. House Committees on Financial Services and Agriculture have released a comprehensive discussion draft of proposed legislation...more

Jones Day

Updates on Proposed Stablecoin Legislation: the GENIUS Act and the STABLE Act

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As Congress moves to enact comprehensive stablecoin legislation under the Trump administration, both the Senate and the House of Representatives have updated their respective payment stablecoin bills. Our recent Commentary...more

Paul Hastings LLP

PHFintech: Crypto Policy Tracker - December 20, 2024

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This week, Congress wrapped up its final session of the 118th Congress. Crypto legislation in the next Congress will likely be based on the bills introduced in the prior session, but we might see some significant changes to...more

Orrick, Herrington & Sutcliffe LLP

House subcommittee discusses CFPB reform proposals

On March 9, the House Financial Services Committee’s Subcommittee on Financial Institutions and Monetary Policy held a hearing to discuss proposals that would alter the structure and authority of the CFPB. The subcommittee...more

Poyner Spruill LLP

The 118th Congress on FinTech Legislation

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On February 14, 2023, the 118th Congress held its first hearing on cryptocurrency following the volatile events of 2022. Several issues were discussed, including the proper regulatory authority, property rights, financial...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, Sept. 27, 2022

LEGISLATIVE LOWDOWN - Congress Advances Towards CR as Deadline Approaches. Yesterday, Senate Democrats proposed legislation to fund the federal government through Dec. 16 with the use of a continuing resolution (CR). The...more

BCLP

New fair banking CRA legislation: House committee on financial services (HR 8833)

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US House of Representatives Committee on Financial Services Chairwoman, Maxine Waters (D-CA), has introduced new legislation H.R. 8833 “Making Communities Stronger through the Community Reinvestment Act.” The proposed...more

Brownstein Hyatt Farber Schreck

Tax & Financial Services Week Ahead, May 9, 2022

The House and Senate will reconvene Tuesday at 2 p.m. and Monday at 3 p.m., respectively....more

Brownstein Hyatt Farber Schreck

Tax & Financial Services Week Ahead - February 28, 2022

The House and Senate will reconvene Monday at 2 p.m. and 3 p.m., respectively.  What to Watch - Both chambers return to Washington after an eventful week away from Capitol Hill. ...more

Proskauer - Corporate Defense and Disputes

House of Representatives Looks into SPACs, Focused on Protecting Investors

On November 16, 2021, the House Financial Services Committee cleared two proposals geared towards protecting investors and holding accountable offerors in connection with SPAC transactions. ...more

Brownstein Hyatt Farber Schreck

Tax & Financial Services Week Ahead - November 1, 2021

The House and Senate will reconvene Monday at 6:30 p.m. and 3 p.m., respectively - What to Watch - Last week, congressional Democrats released 1,684 pages of legislative text mirroring portions of the budget...more

Ballard Spahr LLP

CFPB issues Spring 2019 semi-annual report; Director Kraninger to appear before House Financial Services Committee on Oct. 16 and...

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CFPB recently issued its Spring 2019 Semi-Annual Report to Congress covering the period October 1, 2018 through March 31, 2019. The report represents the CFPB’s second semi-annual report under Director Kraninger’s...more

Mayer Brown Free Writings + Perspectives

House Financial Services Committee and House of Representatives Address Capital Formation Related Bills

This past week, the House Financial Services Committee considered and passed a few bills that would, if passed by the House, result in changes to the securities laws. ...more

Mayer Brown Free Writings + Perspectives

Bills Promoting Board Diversity Advance in Congress

Earlier this month, the U.S. House Financial Services Committee passed, with overwhelming bi-partisan support, three bills to promote gender, racial and ethnic diversity on corporate boards. Although there has been progress...more

WilmerHale

House Financial Services Committee Introduces Legislation to Overhaul SEC Waiver Process

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Over the past several weeks, competing views have emerged from Capitol Hill and the SEC over how the Securities and Exchange Commission (“SEC” or “Commission”) should approach waivers of collateral consequences for parties...more

Ballard Spahr LLP

Inside the Beltway – Diversity and Inclusion in the Financial Services Sector

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The House Financial Services Committee continues briskly reporting out legislation targeted at the credit reporting system, housing, and diversity and inclusion in the financial services sector. Chairwoman Maxine Waters...more

Mayer Brown Free Writings + Perspectives

Proposed Bad Actor Disqualification Act of 2019 and SEC Statement on Contemporaneous Settlement Offers and Waiver Requests

Last month, Representative Maxine Waters, chair of the House Financial Services Committee, introduced a bill entitled Bad Actor Disqualification Act of 2019 (“proposed bill”). The proposed bill is intended to increase...more

Ballard Spahr LLP

Draft Legislation Seeks to “Keep Big Tech Out Of Finance”

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On July 15, the Democratic majority of the House Financial Services Committee introduced draft legislation, titled “Keep Big Tech Out Of Finance Act,” targeting Libra, Facebook’s contemplated new digital currency. As a follow...more

Ballard Spahr LLP

House Financial Services Committee passes more credit reporting bills

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Three more bills dealing with credit reporting were passed on Tuesday by the House Financial Services Committee.  Like the four bills passed by the Committee last week, none of the bills passed yesterday received any...more

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