At a Senate Banking Committee hearing, Ranking Member Pat Toomey and Committee Chair Sherrod Brown squared off on the merits of the "Investor Democracy is Expected Act" which would limit the voting power of index fund managers.
Senate Banking Committee Ranking Member Pat J. Toomey urged Congress to pass the "Investor Democracy is Expected Act" to address "problems of asset managers voting other people's shares and their consolidation of corporate voting power."
At a hearing before the Senate Committee on Banking, Housing and Urban Affairs, Treasury Secretary Janet L. Yellen testified on the Financial Stability Oversight Council's 2021 Annual Report to Congress.
In testimony before the Senate Banking Committee, CFPB Director Rohit Chopra offered a progress report on his first six months at the helm and highlighted efforts to "realign" the agency's agenda on behalf of consumers.
At a hearing on CARES Act oversight before the U.S. Senate Committee on Banking, Housing and Urban Affairs, Treasury Secretary Janet Yellen and Federal Reserve Board Chair Jerome Powell described post-pandemic economic recovery policy.