Bipartisan House Letter Slams Basel Proposal’s Capital Markets Impact
Following up on our analyses yesterday of Congressional pressure on the banking agencies, we here turn to a bipartisan letter from 15 Members of the House led by Capital Markets Subcommittee Ranking Member Sherman (D-CA) and Subcommittee Chair Wagner (R-MO) warning the agencies of the proposal’s adverse capital-markets impact.
Brown Leads Campaign for Strong End-Game Standards
The first unequivocal expressions of support for the capital rules from key Members we have found came today from Banking Committee Chairman Brown (D-OH) and eleven Senate Democrats.
Banking Agencies Seek NBFI Data from FBOs
The OCC, FRB, and FDIC today requested comment on a proposal to gather more granular information on call reports filed by FBOs related to loans and lease receivables.
GOP Leadership Reignites “Operation Chokepoint” Concerns
Reigniting GOP concerns about “Operation Chokepoint” political regulation, Senate Banking Ranking Member Scott (R-SC) today sent a letter to Treasury Secretary Yellen and FinCEN Director Gacki raising concerns that Treasury urged banks to surveil customers’ transaction-level data using what he calls politically-charged search terms such as “Trump” and “MAGA” as well as merchant category codes to detect activity such as legal firearm purchases.