Tagged: sherrod brown

May 20, 2024 @ 5:18 pm By JD Alois  |  

Following a highly critical independent review and calls for his registration, FDIC Chairman Martin Gruenberg has decided to resign from the agency. Rumblings about poor management at the regulatory agency have been rife for some time now. Gruenberg issued the following statement: “It has been my… Read More

May 10, 2024 @ 5:47 pm By JD Alois  |  

The Financial Innovation and Technology for the 21st Century (FIT21) Act is taking another step forward in a process to provide new rules to oversee the emerging digital asset ecosystem. The House Rules Committee has agreed to a floor vote, which is expected to take place… Read More

December 8, 2023 @ 9:55 am By JD Alois  |  

This week, the Chief Executives of the largest banks in the United States visited with the US Senate Banking Committee for the Annual Oversight of Wall Street Firms. Much of the discussion revolved around the “Basel 3 End Game” (B3E) a new set of banking… Read More

May 25, 2023 @ 5:14 pm By JD Alois  |  

Digital Innovation for America, a lobbying group advocating on behalf of digital assets, has updated its campaign to highlight the ability of crypto to streamline transfers or payments globally by promoting the need for Ukrainians living in the US to support the ongoing war against… Read More

May 16, 2023 @ 11:57 am By JD Alois  |  

A digital campaign is ongoing targeting Senator Sherrod Brown, Chairman of the Senate Banking Committee, on the issue of digital assets. On Twitter, the promotion states: “Ohio, it’s time for Sen. Brown to support digital assets. Digital assets help sustain job growth for the American… Read More

April 20, 2023 @ 3:57 pm By JD Alois  |  

A former Consumer Financial Protection Bureau (CFPB) employee has stolen information from around 256,000 individuals, according to multiple reports. WSJ.com states that the information included “confidential supervisory” data from 45 different institutions. Most of the information was said to be from a single unnamed institution…. 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

March 9, 2023 @ 11:39 am By JD Alois  |  

Like the day is followed by night, we can count on politicians piling on a debacle when they can craft a sound bite that fits their desired narrative. As was reported yesterday, Silvergate Capital Corporation (NYSE:SI) has decided to wind down its operations following the collapse… 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

December 1, 2022 @ 11:16 am By JD Alois  |  

Senator Sherrod Brown, Chairman of the Senate Banking Committee, has sent a letter to the US Department of Treasury Secretary Janet Yellen expressing his concerns following the bankruptcy filing of FTX. The crypto exchange, once one of the largest crypto exchanges in the world, filed… 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

September 13, 2022 @ 9:45 am By JD Alois  |  

Today, the Senate Committee on Banking, Housing, and Urban Affairs, will hold a hearing on New Consumer Financial Products and the Impacts to Workers – typically these products are provided by Fintechs. Last week, Committee Chairman, Senator Sherrod Brown, hosted a “listening session” regarding new… Read More

September 13, 2022 @ 8:27 am By JD Alois  |  

Yesterday, several US Senators, all Democrats, issued a statement regarding concerns of crypto scams proliferating on Meta (Facebook) (NASDAQ:META). A letter signed by these Senators was sent to Meta CEO Mark Zuckerberg. Signed by, Senators Bob Mendez, Sherrod Brown, Elizabeth Warren, Diane Feinstein, Bernie Sanders… Read More

July 28, 2022 @ 10:06 pm By JD Alois  |  

Smartphones have become the operating systems of our existence. Today, you need your iPhone or Android phone to accomplish many different tasks, including managing money. This also includes the growing number of crypto and neo-banking Apps. Yesterday, Sherrod Brown, a Democrat Senator from Ohio who… 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

December 16, 2021 @ 3:48 pm By JD Alois  |  

Buy now, pay later, services may be receiving more scrutiny if several Senate Democrats have their way. Yesterday, Senators Jack Reed, Sherrod Brown, Elizabeth Warren, Chris Van Hollen, Tina Smith, and Jon Ossoff, sent a letter to the Consumer Financial Protection Bureau (CFPB) urging Director… 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

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

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