Tagged: senate banking committee

May 16, 2023 @ 11:12 am By JD Alois  |  

Today the Senate Banking Committee is holding a hearing on the failure of several banks that helped to drive fear and concern within the entire banking system. The hearing includes the testimony of Gregory Becker, former CEO of Silicon Valley Bank; Scott A. Shay, former… Read More

March 28, 2023 @ 9:09 am By JD Alois  |  

Today, the US Senate Banking Committee will meet to discuss the recent calamitous events in the banking sector. Multiple banks have experienced bank runs, and several have been taken over as these firms fell prey to poor management in regard to interest rate risk, and… Read More

February 16, 2023 @ 10:07 am By JD Alois  |  

This past week, the Senate Banking Committee held a hearing to discuss the topic of digital assets.  As should be abundantly clear by now, support, or lack of support, is now largely falling along party lines. Both sides desire consumer protection and understand the need… Read More

December 14, 2022 @ 11:35 am By JD Alois  |  

The Senate Banking Committee hearing on FTX, taking place today, has extended the discourse on the collapse of what was once one of the largest crypto exchanges in operation. While not involving any current FTX employees, testimony and perspective are being provided by four different… Read More

December 11, 2022 @ 4:25 pm By JD Alois  |  

Last Friday, the Senate Banking Committee issued a statement as to whether or not, Sam Bankman-Fried will attend a Hearing on the FTX disaster and ensuing bankruptcy filing. The hearing is scheduled for next week on December 14, a day after the House Committee on… Read More

November 22, 2022 @ 9:05 am By JD Alois  |  

Democrat members of the Senate Banking Committee have sent a letter to SoFi (NASDAQ:SOFI) inquiring about its activities in regard to digital asset trading. At the same time, the Senators have forwarded a letter to three bank regulators, the Office of the Comptroller of the… Read More

July 17, 2022 @ 3:00 pm By JD Alois  |  

The Association of Online Investment Platforms (AOIP) has forwarded a letter to members of Congress in support of the JOBS Act 4.0 legislation. In the spring of 2022, Republicans on the Senate Banking Committee submitted draft legislation on the 10th Anniversary of the JOBS Act… Read More

June 21, 2022 @ 4:59 pm By JD Alois  |  

Republican members on the US Senate Banking Committee have requested more information from the Securities and Exchange Commission (SEC) regarding the Commission’s proposal to require reporting companies to disclose their climate impact. In a letter addressed to SEC Chairman Gary Gensler, signed by the 12… Read More

April 6, 2022 @ 5:48 pm By JD Alois  |  

The Republicans on the Senate Banking Committee have submitted draft legislation on the 10th Anniversary of the JOBS Act, called JOBS Act 4.0. The JOBS Act of 2012 was the law that created online capital formation or investment crowdfunding. Three exemptions were legalized that enabled… Read More

January 12, 2022 @ 12:05 pm By JD Alois  |  

Chairman of the Federal Reserve Jerome Powell spent much of yesterday testifying in front of the US Senate Banking Committee as part of his nomination process. It is anticipated that Powell will easily be approved by the Committee as well as the full Senate for… Read More

December 16, 2021 @ 6:08 pm By JD Alois  |  

Following the House Financial Services Committee hearing on cryptocurrency last week, the Senate Banking Committee held a related hearing to discuss the stablecoin market. Entitled Stablecoins: How Do They Work, How Are They Used, and What Are Their Risks?, the Senate Banking Committee had a single… Read More

November 30, 2021 @ 9:55 am By JD Alois  |  

The Secretary of the Treasury Janet Yellen has provided responses to questions put forth by Senator Pat Toomey – the ranking Republican on the Senate Banking Committee. The questions are in follow-up to a recent hearing at the Committee. Yellen, along with Fed Chairman Jerome… Read More

November 26, 2021 @ 10:00 am By JD Alois  |  

Senator Sherrod Brown, Chairman of the Senate Banking Committee, has sent a letter to multiple stablecoin issuers and crypto exchanges. The letter was proceeded by a report issued by the President’s Working Group on Financial Markets that addressed stablecoins, published at the beginning of November…. Read More

November 18, 2021 @ 7:42 pm By JD Alois  |  

  Saule Omarova testified in front of the Senate Banking Committee today and the challenging questions did not just come from Republican members as several Democrats queried the aspiring bank regulator with difficult queries as well. Omarova, a Cornell Law professor born in the former… Read More

November 17, 2021 @ 5:35 pm By JD Alois  |  

The Office of the Comptroller of the Currency (OCC), an independent bureau under the US Department of Treasury, is the lead bank regulator in the US. Managed by the Comptroller of the Currency, it is a key federal agency in approving or denying national bank… Read More

September 15, 2021 @ 11:06 am By JD Alois  |  

SEC Chairman Gary Gensler marched up to Capitol Hill yesterday to testify in front of the Senate Banking Committee in a hearing entitled “Oversight of the U.S. Securities and Exchange Commission”.  Gensler outlined his ambitions at the SEC in his prepared remarks. While Gensler received… Read More

September 13, 2021 @ 3:37 pm By JD Alois  |  

Tomorrow (September 14, 2021), SEC Chairman Gary Gensler will testify in front of the Senate Banking Committee. The hearing is a periodic meeting for the Committee and is entitled “Oversight of the U.S. Securities and Exchange Commission”. In prepared testimony, Gensler focuses much attention on investor… Read More

September 10, 2021 @ 9:56 am By JD Alois  |  

Next week, Securities and Exchange Commission (SEC) Chairman Gary Gensler will testify before the US Senate Banking Committee. The routine hearing is about the “Oversight of the U.S. Securities Exchange Commission,” but you may anticipate a good amount of testimony on issues surround Fintech and,… Read More

July 27, 2021 @ 12:44 pm By JD Alois  |  

The Senate Banking Committee held a hearing today on cryptocurrency aptly titled Cryptocurrencies: What are they good for? And as one may anticipate, the questions and support of digital asset innovation largely fell along party lines. For the witnesses, there were representatives from Coin Center, Filecoin,… Read More

July 27, 2021 @ 8:24 am By JD Alois  |  

The US Senate Banking Committee will hold a hearing later this morning entitled Cryptocurrencies: What are they good for? The individuals testifying in front of the Committee include: Professor Angela Walch, Professor of Law, St. Mary’s University School of Law, Research Associate, UCL Centre for… Read More