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ICYMI: Banks to Donald Trump: Don’t Kill Dodd-Frank

December 8, 2016 Big banks have an unexpected message for President-elect Donald Trump: Don’t trash the Dodd-Frank Act. “We’re not asking for wholesale throwing out Dodd-Frank,” J.P. Morgan Chase & Co. chief James Dimon said at a financial-services conference this week where he and other big-bank executives spoke, often addressing potential regulatory changes for the first time since the election. That is a contrast to some in Washington who have called for full repeal of Dodd-Frank, the legisl...

Subcommittee Examines the Fed’s Unconventional Monetary Policy

WASHINGTON – The Monetary Policy and Trade Subcommittee held a hearing on Wednesday to examine the Federal Reserve’s departures from conventional monetary policy and how a more principled and transparent monetary policy strategy can better support economic growth going forward. “Economic opportunity reliably increases when monetary policy adheres to its vital duty – that is, facilitating commerce, wherever it shows promise,” said Subcommittee Chairman Bill Huizenga (R-MI), “Throughout our curren...

House Passes Bill to Increase Transparency in International Regulatory Discussions

WASHINGTON- The House passed legislation on Wednesday that would enhance congressional oversight of international deliberations relating to insurance standards by a vote of 239-170. Sponsored by Housing and Insurance Subcommittee Chairman Blaine Luetkemeyer (R-MO), the Transparent Insurance Standards Act directs federal regulators to solicit public comments, consult with state officials, and report to Congress before adopting international capital standards or other requirements for U.S. insuran...

House Passes Package of Pro-Growth Financial Services Bills

WASHINGTON – The House on Monday passed the Creating Financial Prosperity for Businesses and Investors Act (H.R. 6427) by a vote of 391-2. The bill, sponsored by Rep. Scott Garrett (R-NJ) would increase investment opportunities for more Americans and help grow the economy. “The Creating Financial Prosperity for Businesses and Investors Act can make a positive difference in people’s lives and help build a healthier economy with more opportunities for all. I am proud to see another important piece...