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Consumer Financial Protection Bureau (CFPB) Senate Banking Committee

Orrick, Herrington & Sutcliffe LLP

Senate Banking Committee pens support on CFPB’s proposed BNPL supervision

On September 10, Senators Jack Reed (D-RI), Sherrod Brown (D-OH) and Tammy Duckworth (D-IL) penned a letter expressing their support for a new interpretive rule by the CFPB classifying “Buy Now, Pay Later” (BNPL) providers as...more

Ballard Spahr LLP

CFPB issues semi-annual report to Congress; CFPB Director Chopra to appear before House and Senate committees this week

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Last week, the CFPB issued its Semi-Annual Report to Congress covering the period beginning April 1, 2023 and ending September 30, 2023. On June 12, 2024, CFPB Director Chopra is scheduled to appear before the Senate Banking...more

Sheppard Mullin Richter & Hampton LLP

Congress Continues to Pressure Zelle and Other Payment Apps to Change Their Fraud Policies

On February 15, Senators Sherrod Brown (D-OH), Jack Reed (D-RI) and Elizabeth Warren (D-MA) sent a letter to Zelle seeking clarification of its reimbursement policy for victims of imposter scams. Calling its protocol for...more

Ballard Spahr LLP

Democratic Senators continue to pressure Zelle and other payment apps to change fraud policies

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On February 15, 2024, Senators Sherrod Brown (D-OH), Jack Reed (D-RI) and Elizabeth Warren (D-MA) sent a letter to Zelle seeking clarification of its reimbursement policy for victims of imposter scams and urging Zelle to...more

Orrick, Herrington & Sutcliffe LLP

CFPB’s Chopra testifies at Senate Banking Committee hearing

On November 30, the Director of the CFPB, Rohit Chopra, testified during the Senate Banking Committee’s hearing on the Bureau’s Semi-Annual Report to Congress. The Senate Banking Committee questioned Chopra on the Bureau’s...more

Orrick, Herrington & Sutcliffe LLP

Senate Banking Committee holds hearing on account fees

On July 26, the Senate Banking Committee held a hearing regarding “fees and tactics impacting Americans’ wallets” in relation to financial services and the role of the CFPB in addressing harmful fees. Leading the hearing,...more

Orrick, Herrington & Sutcliffe LLP

Chopra testifies at congressional hearings

On June 13, CFPB Director Rohit Chopra testified before the Senate Banking Committee to discuss the Bureau’s most recent semi-annual report to Congress. Covering the period beginning April 1, 2022 and ending September 30,...more

Ballard Spahr LLP

CFPB issues Semi-Annual Report to Congress; CFPB Director Chopra to appear before House and Senate committees this week

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At the end of last week, the CFPB issued its Semi-Annual Report to Congress covering the period beginning April 1, 2022 and ending September 30, 2022.  Tomorrow, June 13, CFPB Director Chopra is scheduled to appear before...more

Orrick, Herrington & Sutcliffe LLP

Senators ask FTC, CFPB to investigate deceptive listing agreements

In December, Senate Banking Committee Chairman Sherrod Brown (D-OH), along with Senators Tina Smith (D-MN) and Ron Wyden (D-OR) sent a letter to the FTC and the CFPB requesting a review of a Florida-based real estate...more

Ballard Spahr LLP

CFPB Director Chopra scheduled to appear before House and Senate Committees this week

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This Wednesday, December 14, CFPB Director Rohit Chopra is scheduled to appear before the House Financial Services Committee for a hearing, “Consumers First: Semi-Annual Report of the Consumer Financial Protection Bureau.”  A...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday, June 23, 2022

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Congress- U.S. Senate- Committee on Banking, Housing, and Urban Affairs- Hearing: The Semiannual Monetary Policy Report to Congress- June 22, 2022- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a...more

Ballard Spahr LLP

Don’t hold your breath, Professor Sovern!

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In Wednesday’s edition of Consumer Law & Policy Blog, Professor Jeff Sovern laments that during Director Rohit Chopra’s recent testimony before the Senate Banking Committee and the House Financial Services Committee, neither...more

Troutman Pepper

CFPB Director Nomination Advances in the US Senate

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On September 21, the U.S. Senate voted 49-48 along party lines on a procedural motion to advance the nomination of current Federal Trade Commission (FTC) Commissioner Rohit Chopra to become the director of the Consumer...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - September 2021 #4

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Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more

Ballard Spahr LLP

Senate Banking Committee to hold July 29 hearing on 36% national rate cap

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On Thursday, July 29, the Senate Banking Committee will hold a hearing entitled, “Protecting Americans from Debt Traps by Extending the Military’s 36% Interest Rate Cap to Everyone.” ...more

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Chopra Nomination Moves To Senate Floor Following Banking Committee Tied Vote

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The vote in the Senate Banking Committee today on Rohit Chopra’s nomination to serve as CFPB Director resulted in a 12-12 tie....more

Ballard Spahr LLP

Senate Banking Committee holds hearing on Chopra nomination

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Despite expectations to the contrary, Rohit Chopra faced little in the way of hostile questioning by Republican members of the Senate Banking Committee at the hearing yesterday on his nomination by President Biden as CFPB...more

Ballard Spahr LLP

Senate Banking Committee Releases Prepared Statement Of CFPB Director Nominee Rohit Chopra

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In advance of his confirmation hearing tomorrow, the Senate Banking Committee has released the prepared statement of Rohit Chopra, President Biden’s nominee for CFPB Director. ...more

Ballard Spahr LLP

Senate Banking Committee to hold July 29 hearing on CFPB

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On July 29, 2020, the Senate Banking Committee will meet remotely to conduct a hearing entitled “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.” CFPB Director Kraninger is the only scheduled...more

Ballard Spahr LLP

CFPB issues Fall 2019 Semi-Annual Report to Congress

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The CFPB has issued its Fall 2019 Semi-Annual Report to Congress covering the period April 1, 2019 through September 30, 2019. ...more

Ballard Spahr LLP

Director Kraninger testifies at House and Senate hearings

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CFPB Director Kraninger was the sole witness at a House Financial Services Committee hearing thsi week on the Bureau’s Spring 2019 semi-annual report and at a Senate Banking Committee hearing yesterday on the report. ...more

BakerHostetler

The Weekly Hill Update

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Below is the Federal Policy team’s weekly preview, posted when Congress is in session....more

Ballard Spahr LLP

Senate Banking Committee to hold Oct. 27 hearing on CFPB’s semi-annual report

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The Senate Banking Committee will hold a hearing on October 27, 2019 entitled “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress”  at which the witness will be Director Kraninger.  ...more

Ballard Spahr LLP

Democrats criticize Director Kraninger at Senate Banking Committee hearing

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Director Kraninger was sharply criticized by Democrats at today’s hearing on the Bureau’s semi-annual report held by the Senate Banking Committee....more

Ballard Spahr LLP

Director Kraninger to appear at Senate Banking Committee March 12 hearing

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The Senate Banking Committee has announced that it will hold a hearing on March 12, 2019 entitled “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress” at which CFPB Director Kraninger is scheduled to...more

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