The Senate confirmed the nominations of Democrat Robert Jackson and Republican Hester Peirce. With these confirmations, all five SEC Commissioner positions are filled.
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Senators questioned whether the Consumer Financial Protection Bureau investigation into the Equifax data breach has been halted. The letter comes in response to a recent report suggesting Acting Director Mulvaney relaxed the investigation.
The House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises reviewed the "Investment Advisers Modernization Act," which would require the SEC to modernize certain rules relating to investment advisers.
SEC Chair Mary Jo White testified before the Senate Banking Committee. She noted progress and completion of rulemakings required by the Jumpstart Our Business Startups Act, the Fixing America's Surface Transportation Act and the Dodd-Frank Act.
The House Subcommittee on Financial Institutions and Consumer Credit examined whether a recent CFPB proposal that prohibits mandatory arbitration clauses in many consumer financial contracts is "in the public interest and for the protection of consumers."