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Tag Archives: Senate Banking Committee

Senate Democrats Praise CFPB Director’s Record

As speculation persists that President-elect Donald Trump will fire Consumer Financial Protection Bureau (CFPB) Director Richard Cordray once Trump takes office, lawmakers on both sides of the aisle are pleading their respective cases as to why Cordray should either stay or go.

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Industry Sounds Off on Pending Carson Hearing

The question of whether the U.S. Senate will confirm Dr. Ben Carson as the new HUD Secretary will likely be answered on Thursday, January 12. What did stakeholders in the industry have to say about how the former presidential candidate would handle the Department if he is confirmed?

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Congress Continues Sparring Over Dodd-Frank and CFPB

CFPB

Financial reform under Dodd-Frank has taken some heat and even encountered a few setbacks lately, namely the removal of the Financial Stability Oversight Council’s “systemically important financial institution” (SIFI) from MetLife and the Consumer Financial Protection Bureau’s pending trial from PHH Corp.’s appeal of a $109 million penalty handed down last June.

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Lawmakers at Odds Over CFPB Effects

CFPB

Now almost five years old, the CFPB remains the subject of a heated debate among lawmakers: Is the Bureau an organization vital to the financial well-being of consumers, or is it simply a government bureaucracy that abuses its power?

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Senate Subcommittee Discusses Ways to End ‘Too Big to Fail’

With many institutions still designated as "systemically important" or "too big to fail" even seven years after the financial crisis, a subcommittee of the Senate Banking Committee convened for a hearing on Wednesday to discuss ways in which bankruptcy reform could end "too big to fail."

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Senators Request Information from FHFA Concerning Credit Risk Transfers

A bipartisan group of Senate Banking Committee members wrote a letter to the Federal Housing Finance Agency (FHFA) requesting that the agency expand and provide better transparency of the development of the credit risk transfer programs. These programs shift credit risk from Fannie Mae and Freddie Mac to the private sector, according to a press release.

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