Representative Andy Ogles (R-TN) joined several Republican House members urging the CFPB to rescind a proposal to establish a nonbank registry and require financial institutions to register with the CFPB.
News & Insights
Expert witnesses called for independent investigations of the FRB and FDIC, greater accountability for regulators and supervisors, and "modernizing" deposit insurance, as the House Financial Services Subcommittee on Financial Institutions and Monetary Policy considers legislative proposals to address bank failures.
Senate Banking Committee Chair Sherrod Brown (D-OH) introduced the "Close the Shadow Banking Loophole Act," which would subject industrial loan companies to the same rules and consumer protections as traditional banks under the supervision of the Federal Reserve.
Senate Finance Committee Chair Ron Wyden (D-OR) asked six cryptocurrency exchanges to provide information on their respective asset protection policies.
A bipartisan group of 47 members of Congress urged SEC Chair Gary Gensler to extend the comment period on its Private Funds Advisers and Form PF proposals to at least 90 days post-publication in the Federal Register.