All congress articles – Page 3
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Blog
Senators urge social media giants to block 3-D gun blueprints
A group of Senate Democrats is urging leading technology companies to ensure that the publication of 3-D gun printing materials, which violate their terms of service, is not allowed on their platforms.
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Legislation seeks crackdown on bank overdraft fees
The recently filed Stop Overdraft Profiteering Act of 2018 would ban overdraft fees on debit card transactions and ATM withdrawals and limit fees placed for checks and recurring payments.
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Reps launch effort to bar peers from serving on corporate boards
In response to yet another member of Congress charged with insider trading, Reps. Tom Reed and Kathleen Rice will introduce a House resolution to prohibit fellow legislators from serving on corporate boards.
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State AGs push for a beneficial ownership disclosure law
A bipartisan group of 24 attorneys general is urging Congress to advance legislation improving the transparency of shell corporations by requiring them to disclose who controls and profits from their activities.
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Senate Democrats issue report on Equifax breach, chide CFPB's inaction
The Equifax data breach was even worse than initially feared, say Senate Democrats who accuse the CFPB for its lack of a “robust investigation” and plans to make its complaint database private.
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New legislation offered to help regulators fight illegal robocalls
New legislation was introduced in the Senate this week to help the FCC prosecute violations of its robocall rules by increasing the related statute of limitations for FCC action from one year to three.
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Battle over CFPB's auto loan guidance could expand scope of CRA
A Senate vote on Tuesday invalidated CFPB guidance on automobile lending practices and could give legislators greater ability to deploy the Congressional Review Act as a tool for regulatory rollbacks.
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Assessing Facebook’s many regulatory and compliance lessons
After a hectic week of Congressional testimony, there is a better understanding of Facebook’s data protection woes. There is also plenty of fodder for regulatory and compliance debates.
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Push for Volcker rule reforms gains momentum
Since the day the Dodd-Frank Act was passed nearly a decade ago, the Volcker rule has been a burr under the saddle for Republicans. Now, their complaints are a lot closer to having a remedy, with plans to ease the rule’s burden on community banks.
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Acting CFPB director wants a radical overhaul of the agency
In the pages of the CFPB’s semi-annual report, Acting Director Mick Mulvaney included four recommendations for legislative changes to the agency. “The Bureau is far too powerful, with precious little oversight of its activities,” he said.
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ArticleFacebook’s data problems open door to domestic regulation of tech firms
As Facebook takes heat for how its user data has been exploited for political purposes, some wonder if a homegrown version of GDPR is on the horizon.
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Facebook follies: Congress, AGs upload scrutiny on social media giant
Troubles continued this week for social media giant Facebook with confirmation that the FTC is investigating whether the exposure of personal data belonging to an estimated 50 million users is a violation of a 2011 consent decree. Also in the mix: Congress and state Attorneys General.
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House committee advances slate of financial bills to full chamber
The House Financial Services Committee has advanced a slate of bills for the consideration of the whole House. The total number of bills reported out of the Committee this Congress now total 99.
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House passes bill seeking end to cookie-cutter stress tests for non-banks
The House of Representatives garnered bipartisan support for legislation that would exempt non-bank financial institutions that are not under supervision by the Federal Reserve, but overseen by the SEC and CFTC, from stress tests.
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Senators seek ties between Kushner loans, Citigroup, and Apollo Global Management
A team of senators and representatives is quizzing Citigroup and Apollo Global Management on reports that the companies provided more than $500 million in loans to the businesses of senior advisor to the president Jared Kushner.
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Unified AGs want to end mandatory arbitration for sexual harassment victims
In an uncommon display of unity, all 56 of the nation’s attorney’s general are urging Congress “to end secret, forced arbitration in cases of workplace sexual harassment.”
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Adapting the regulatory landscape for FinTech remains a challenge
As FinTech services proliferate, state and federal regulators are considering how to create a simpler set of rules, but progress has been slow.
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OCC chides Senate critics, defends supervisory reforms
The Comptroller of the Currency is fighting back against accusations by Senate Democrats, that his agency was slow to adapt to lessons learned from last year’s problematic behavior at Wells Fargo.
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House Committee advances new roster of regulatory reforms
The House Financial Services Committee has advanced a new slate of 15 bills on to the full House and Senate for their consideration. Passage of several of the bills would offer financial institutions regulatory relief.
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Goodbye CFPB; it was fun while it lasted.
Slowly but surely, those critics of the Consumer Financial Protection Bureau’s are close to winning their battle, aided by efforts to dismantle the agency from within.