Tagged: sherrod brown

Chair of Senate Banking Committee Sends Letters to Top Stablecoin Issuers

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

Senate Hearing for Saule Omarova as Comptroller of the Currency Shows Challenging Path to Approval

  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

SEC Chairman Gensler Grilled by Republicans on Senate Banking Committee, Ranking Member Toomey Supports Regulatory Clarity for Crypto

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

Senate Banking Crypto Hearing: Senator Warren Says Crypto is Dangerous for Our Financial System

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

Senator Sherrod Brown, Chair of Senate Banking Committee, Presses OCC on Crypto Bank Charters Putting Fintech Innovation at Risk

Earlier today, US Senator Sherrod Brown, Chairman of the Senate Banking Committee,  issued a statement challenging the Office of the Comptroller of the Currency (OCC) to review federal bank charters approved for digital asset firms. In the last year of the Trump Administration, the OCC… Read More

Congress to Bring Big Bank CEOs Back to the Hill

The Chairwoman of the House Committee on Financial Services, Maxine Waters, and the Chairman of the Senate Committee on Banking, Sherrod Brown, have jointly announced a new round of hearings that will see the CEOs of the top US banks testify in front of each… Read More

Gensler’s and Chopra’s Nominations to SEC and CFPB Move to Full Senate for Vote

Last week, the Senate Banking Committee voted to 14-10 to move forward with Gary Gensler’s nomination as the Chairman of the Securities and Exchange Commission. On the same day, the vote was taken on Rohit Chopra and his nomination as Director of the Consumer Financial… Read More

Never Waste a Crisis: Incoming Chairman of Senate Banking Committee to Hold Hearing on GameStop – Reddit Phenomenon

  Senator Sherrod Brown, the incoming Chairman of the Senate Banking Committee, will be holding a hearing on the GameStop – Reddit phenomenon, according to a tweet. Senator Brown said it was time for the SEC and Congress to make the economy work for everyone… Read More

Letters from US Lawmakers Regarding Facebook’s Libra May Have Spurned Last Week’s Walkout by Backers

Letters from US lawmakers to members of the Libra Association asking them to, “carefully consider how your companies will manage risks before proceeding,” as backers of a Facebook cryptocurrency called “Libra” may have spurned last week’s corporate exodus from the project. On Friday, October 11th, Visa,… Read More

US Treasury Secretary Mnuchin: Backers Left Facebook’s Libra Because Facebook’s Currency Project “Not Up to Par”

US Treasury Secretary Steve Mnuchin told Andrew Ross Sorkin at CNBC’s Squawk Box October 14th that initial backers of Facebook’s proposed in-app cryptocurrency project, Libra, probably realized the company was, “not ready….(and) not up to par” when they announced they were leaving the project in… Read More

Senate Hearing on Blockchain & Crypto: Still Questions but Less Hostility (as No Facebook Presence)

The US Senate Banking Committee held a hearing today entitled Examining Regulatory Frameworks for Digital Currencies and Blockchain. The Hearing is part of an ongoing process of education and understanding regarding the emerging digital asset ecosystem and the technology that supports it. Earlier this month,… Read More

Senate Hearing: “I wish we could trust Facebook, it is pretty clear there is nobody on this committee that does.” David Marcus Hit with Skepticism Regarding Facebook’s Libra Cryptocurrency

The Senate Banking Committee held a hearing today where David Marcus, Head of Facebook’s cryptocurrency project Libra, took the stand to explain and defend the company’s intent for their payments and blockchain ecosystem. While some US Senators are keen on supporting Fintech innovation in the… Read More

Senate Banking Committee Schedules Hearing on Facebook’s Cryptocurrency Libra

The Senate Committee on Banking, Housing, and Urban Affairs has booked a hearing on Facebook and its recently announced cryptocurrency Libra. The hearing was largely anticipated as multiple politicians issued public statements on the day Facebook revealed their vision for the future of finance using… Read More

US Politicians Line Up to Question Facebook’s Cryptocurrency Libra: Senator Sherrod Brown says Facebook is Already Too Big

Several US politicians have issued statements critical of Facebook’s new cryptocurrency – Libra. Officially announced today, Libra is first a payment platform but Facebook has much bigger ambitions with the crypto. Facebook views it as a step in the direction of redefining financial services. US… Read More

US Senate Banking Committee Asks Mark Zuckerberg for Details Regarding Facebook’s Secretive “Libra” Cryptocurrency Project

US Senators Mike Crapo and Sherrod Brown have sent an open letter to Facebook CEO Mark Zuckerberg asking him to provide information on the company’s much-anticipated and highly-secretive “Libra” cryptocurrency project. So far, little is known publicly about the project, although reporting at Bloomberg indicates… Read More

Kathleen Kraninger Confirmed as Director of the Bureau of Consumer Financial Protection

The Bureau of Consumer Financial Protection (BCFP – formerly known as the CFPB) has a new full-time director. Today, Kathleen Kraninger, a long time congressional staffer and DC veteran, was approved by the Senate. Kraninger will take over from interim director Mick Mulvaney who was also… Read More

Here is the GAO Report on Fintech that was Delivered to Congress

This one falls under recently discovered. The Government Accountability Office (GAO) published a report on Financial Technology, or Fintech, for Congress this past April.  The report, subtitled Information on Subsectors and Regulatory Oversight, was at the behest of several members of Congress including; Senator Sherrod… Read More

Financial Innovation Now Submits Recommendations to Senators Crapo & Brown as to How to Boost the Economy

Financial Innovation Now (FIN) has submitted their recommendations to Senators Crapo and Brown, the Chair and Ranking Member on the Senate Banking Committee, as to how best to improve Economic Growth. The proposals follow a public request by the two Senators asking members of the public… Read More

Two US Senators Ask for Public Proposals to Boost Economic Growth

Senator Mike Crapo and Senator Sherrod Brown, have asked the public to pitch ideas as to how to boost economic growth. Crapo, a Republican, is the Chairman of the Senate Banking Committee. Brown is the ranking Democrat on the same committee. In an act of… Read More

Two US Senators Come Out Against Proposed OCC Fintech Charter

Senators Sherrod Brown and Jeffrey Merkley have published a letter, sent to Thomas Curry, Comptroller of the Office of the Comptroller of the Currency (OCC), bashing his push to create a Fintech charter for innovative financial firms. Brown and Merkley state; “While we share your… Read More

Send this to a friend