Dodd-Frank

Update 251 — Treasury Report on OLA Leaves Key Pillar of DFA Tailored but Intact On Wednesday, the Treasury Department released a much-anticipated report with recommendations on Dodd-Frank Act’s Orderly Liquidation Authority (OLA), which provides for the resolution (closure) of non-bank firms in a crisis. In a surprise to most observers who expected the Trump Treasury …

Treasury Report on OLA (Feb. 23) Read More »

Update 247: CFPB Constitutional, per Court; Dissent More Hysterical than Historical  This Wednesday, the U.S. Circuit Court of Appeals for the District of Columbia voted 7-3 to uphold the constitutionality of the Consumer Financial Protection Agency (CFPB)’s governance structure. The Dodd-Frank Act gave CFPB have a single, independent Director not subject to removal except for …

CFPB Constitutional, per Court (Feb. 2) Read More »

Update 245 —  One Year in, Under the Radar: Administration Reshaping Fin. Reg. Regime A year into office, President Trump has made significant progress as his leading financial regulatory agency nominees are confirmed for office. To date, we have seen enough appointments of federal regulators with varying and generally ambitious deregulatory plans to describe the …

One Year in, Under the Radar (Jan. 26) Read More »

Update 231 — Senate Banking, Comity Central,  OKs S. 2155, now filibuster-proof, in 16-7 vote Today, Senate Banking marked up and reported out S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act. The bill sailed through Committee. Final vote: 16 ayes and 7 nays. Democratic cosponsors refused to vote for amendments offered by opposing …

Senate Banking, Comity Central, OKs S.2155 (Dec. 5) Read More »

Update 228: Powell Pronounces on Dodd-Frank The Pillars vs. the DFA Rules It’s OK to Tailor This morning, the Senate Banking Committee held Fed Governor Jerome Powell’s nomination confirmation hearing for Chair of the Fed.  Republicans and one moderate Democrat used the opportunity to try to secure Powell’s support for S. 2155, The Economic Growth, …

Powell Pronounces on Dodd-Frank (Nov. 28) Read More »

Update 226: The 411 on 401; Keep 911 on Hold A Problematic Provision in Senate Banking Bill Today, the Senate Banking Committee released the bill text of its bipartisan proposal to reduce banking regulations. We drill down on a risky and perhaps politically damaging provision, Section 401, which rolls back systemic risk rules for 25 …

The 411 on 401: Keep 911 on Hold (Nov. 17) Read More »

Update 224: A Surprise of Systemic Importance; Senate Banking Financial Reg Bill Examined  Yesterday, the Senate Banking Committee released summaries of a bill that paves the way for reduced regulation of 26 regional banks representing $3.7 trillion worth of consolidated assets in one fell swoop. The bill encompasses issues ranging from consumer protection to basic …

A Surprise of Systemic Importance (Nov. 14) Read More »

Update 213 — From Regs to Riches: HFSC’s Legislative Gift Basket for the Street This afternoon, the House Financial Services Committee completed a two-day mark-up, favorably reporting out 22 bills affecting systemic risk, capital markets, consumers, homeowners, and retirees.  The bills are overwhelmingly deregulatory, with most removing supposed barriers to capital access and trimming or …

From Regs to Riches (Oct. 12) Read More »

Update 212 — Fin. Market Treasury Report, Pt. 2: Regulatory Agenda Clear, Legislative Not So Much Last Friday, the Treasury Department released the second of four promised reports on financial regulation and capital markets.  This installment features a serviceable recitation of industry complaints, endorsements of portions of GOP legislation such as the CHOICE Act, and …

Fin. Market Treasury Report, Pt. 2 (Oct. 10) Read More »