WASHINGTON (AP) — A Senate panel has voted to make it easier for businesses that legally produce and sell marijuana to do business with banks and other financial services providers. The Senate Appropriations Committee approved an amendment that would effectively ease laws making it officially illegal for banks to handle money from marijuana vendors.
A key Senate committee passed a bill today allowing the nation's capital to establish regulated marijuana stores and let banks provide financial services to state-legalized marijuana dispensaries. These are just two of several marijuana reforms advancing in Congress. Show More Summary
In the past week, House Ways and Means Committee chairman Paul Ryan (R., Wis.) and House majority leader Kevin McCarthy (R., Calif.) have shown great resolve in passing an extension to the highway bill clean of all Ex-Im Bank extensions. Chairman...Show More Summary
During the course of the Senate Banking Committee hearing on the Ex-Im Bank today, Senator Tom Cotton asked the institution’s president, Fred Hochberg, if I was correct that 30 percent of the bank’s activities are justified as countervailing export subsidies by foreign governments. Show More Summary
A Senate committee Thursday voted to ease some of the financial regulations enacted in 2010, approving legislation that Republicans said would help small banks avoid burdensome rules but that Democrats charged would help big Wall Street firms as well.
Texas representative Bill Flores, the chairman of the House Republican Study Committee, and Senator Mike Lee have a piece in the Washington Examiner calling for the end of the Export Import Bank this morning. It’s significant because, like former Texas governor Rick Perry, Flores used to be supportive of the bank. Show More Summary
Federal Reserve Chairman Janet Yellen may soon be spending a lot more time testifying on Capitol Hill. The heads of the Senate Banking Committee and House Financial Services Committee are asking Ms. Yellen to double her appearances before their panels each year.
CEDAR FALLS, Iowa (AP) — Hillary Rodham Clinton says Republican-backed legislation revamping a financial regulation law is a "cynical attempt to game the system for those at the top." The Senate's banking committee chairman, Republican Richard Shelby of Alabama, has introduced legislation to give banks with assets of more than $50 billion a chance to avoid tighter supervision.
In July 1998, Larry Summers appeared before a Senate committee to argue that a financial product, called an over-the-counter (OTC) derivative, did not need to be regulated. He said that there were only two potential reasons for financial regulation—“to protect retail investors from unscrupulous
Look, someone just created the regulatory equivalent of Tofurkey!
Senate Banking Committee Chairman Richard Shelby (R., Ala.) wants to add one more name to the long list of financial agency nominees the Senate has the power to approve or reject: the president of the New York Federal Reserve.
Senate Banking Committee Chairman Richard Shelby (R., Ala.) is set to release a draft bill Tuesday taking the biggest crack at changing financial regulations since the 2010 Dodd-Frank law. Here is the skinny on a number of its provisions related to financial-sector rules, according to Republican aides on the committee.
By Sarah N. Lynch WASHINGTON (Reuters) - The Senate Banking Committee has set up an investigative team in recent weeks that will probe issues ranging from financial regulation to insurance fraud, part of a drive by its new chairman to beef up the panel's oversight function. Show More Summary
After Tuesday's surprisingly one-sided hearing before the Senate Banking Committee on the credit crunch, it's clear that Congress is prepared to take steps to add liquidity to the student loan marketplace. But as lawmakers move forward...Show More Summary
Senate Banking Committee Chairman Richard Shelby said he's trying to figure out where he can find agreement with Democrats to make changes to Dodd-Frank.
Andrew Harrer/Bloomberg via Getty Images Federal Reserve Chair Janet Yellen speaks during a Senate Banking Committee hearing last month in Washington. By CHRISTOPHER S. RUGABER WASHINGTON -- The Federal Reserve forecasts that the U.S. Show More Summary
Saul Loeb, AFP/Getty ImagesFederal Reserve Chair Janet Yellen prepares to testify last month before the Senate Banking, Housing and Urban Affairs Committee. By JOSH BOAK WASHINGTON -- Just as the Federal Reserve seems to be inching toward an interest rate hike because of the strengthening U.S. Show More Summary
WASHINGTON -- Senate Finance Committee Chairman Orrin Hatch (R-Utah) sent scathing letters to Federal Reserve Chair Janet Yellen and the central bank's top independent investigator on Wednesday, demanding information about a secret investigation...Show More Summary
Senate Banking Committee Chairman Richard Shelby (R., Ala.) said he and Federal Reserve Chairwoman Janet Yellen, in a meeting Tuesday, discussed plans for a legislative package aimed at reducing the regulatory burden on small banks.
Federal Reserve Chairwoman Janet Yellen will meet Tuesday afternoon on Capitol Hill with Senate Banking Committee Chairman Richard Shelby (R., Ala.), a committee spokeswoman confirmed.