Update 274 — S. 2155: Critical Backward Glance and a Sneak Peek Ahead on the Bill and Progeny Whatever the merits of S. 2155, the current moment of good feeling surrounding 91 consecutive months of economic growth will not last forever. If the (inevitable) downturn is sharp, the bill and its supporters may come under …
Update 272: House Votes Tuesday on S. 2155; Big Bank Bill Carries More Than Systemic Risk News came this week that the Senate has prevailed on the House GOP leadership to let S. 2155, the largest rollback of Dodd-Frank to date, to schedule a vote on the bill, which is now slated for next Tuesday. …
Update 266 – Dereg Now, Dereg Whenever: Capital Rules Debate Pits Quarles vs. Quarrels If rapidly increasing economic growth, historic highs in financial industry profits, and capital markets in record territory of late all call for deregulation, there’s no bad time for it. And if proponents of financial deregulation control the House, Senate, and White …
Update 263 – The Dog Catches the Bus: Mick Mulvaney’s Mysterious Mission at CFPB This week saw Consumer Financial Protection Bureau (CFPB) Director Mick Mulvaney appear before both the House Financial Services and Senate Banking Committees. After years of working aggressively in Congress to shred the Bureau to pieces, Mulvaney is charged with the operating …
Update 258 — Omnibus Situation: Last Stop Before Two-Week Recess As of this writing on Thursday afternoon, one more piece of Congressional business remains before members and staff can start a long and long-awaited recess. Once again, Congress confronts a deadline of midnight tomorrow to keep the federal government funded. But no one wants to …
Update 256 – S. 2155 Passes Senate, 67-31 Now, on to the House and Conference. Or Not. On Wednesday night, the Senate passed S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, 67-31. The bill is the most comprehensive rollback of the Dodd-Frank Act to clear a chamber of Congress. A summary of the bill’s …
Update 255 — Changes in Plans and in Perceptions Hurry Up, Wait for Increasingly Unpopular S. 2155? S. 2155 – the Economic Growth, Regulatory Relief, and Consumer Protection Act — the largest revamp, rollback, and update of the Dodd-Frank Act (AFR) to date — returns to the Senate floor after session resumes late tomorrow afternoon. The legislative ride for the …
Update 254 — Just A Community Bank Bill? Voters Weigh a Big Bank Bill and the Risks Debate started on the Senate floor today on S. 2155, the broadest set of changes to Dodd-Frank ever thus far. Resumption of floor debate and possibly some votes on amendments are expected tomorrow. Right from the start, debate …
Update 253 — S. 2155 and Systemic Risk Or: The Big Banks’ Benefits under the Bill With S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, set to hit the floor tomorrow, attention is now turning to the least discussed and most abstract — and systemically most consequential — part of the bill. …
Update 252 — Trump’s Financial Regulators: One Year in and Changing the Game Already From consumer protection to regulation of firms, the financial regulatory landscape has changed markedly in some areas and is stillborn in others. Trump regulators have made a variety of decisions that has escaped broader notice. We take a tour of the …
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