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FEDERALhearing transcript

Senate Oversight Hearing on Financial Regulators (May 2019)

Original title: OVERSIGHT OF FINANCIAL REGULATORS

January 1, 2022

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The Frame

What this does

The hearing established the regulatory priorities for U.S. banks and credit unions, influencing how these institutions manage risk, capital requirements, and consumer protections.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

U.S. Financial Institutions

These entities are subject to the prudential regulations and oversight policies discussed by the agency heads.

Credit Unions

These institutions are subject to the regulatory oversight of the National Credit Union Administration.

What changed

Last recorded activity January 1, 2022.

What's next

Next step not available in the current record.

Summary

This document is the official record of a May 15, 2019, Senate Banking Committee hearing. The committee reviewed the plans and regulatory activities of the heads of the nation's primary financial oversight agencies.

Key Facts

  • The Senate Committee on Banking, Housing, and Urban Affairs held an oversight hearing on May 15, 2019.
  • The hearing focused on prudential regulations for U.S. financial institutions and credit unions.
  • Testimony was provided by the heads of the OCC, Federal Reserve, FDIC, and NCUA.
  • The record includes extensive written responses to follow-up questions from committee members to the agency heads.
  • The record includes supplemental letters from banking industry groups and former Treasury Secretaries regarding financial regulations.

Frequently Asked Questions

What was the purpose of this hearing?
The committee met to examine the objectives, plans, and regulatory activities of federal agencies responsible for overseeing U.S. banks and credit unions.
Who testified at this hearing?
The heads of the Office of the Comptroller of the Currency, the Federal Reserve, the FDIC, and the National Credit Union Administration provided testimony.

Why It Matters

The hearing established the regulatory priorities for U.S. banks and credit unions, influencing how these institutions manage risk, capital requirements, and consumer protections.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Lobbying Activity

A16Z Capital Management LLC (f/k/a AH Capital Management L.L.C., d/b/a Andreessen Horowitz)

on behalf of A16Z Capital Management LLC (f/k/a AH Capital Management L.L.C.)

$880,000

2026

BANKINGCOMMODITIES (BIG TICKET)HEALTH ISSUESFINANCIAL INSTITUTIONS/INVESTMENTS/SEC

Digital assets and anti-money laundering proposals

CHECKMATE GOVERNMENT RELATIONS

on behalf of GPD HOLDINGS LLC D/B/A COINFLIP

LEAGUE OF SOUTHEASTERN CREDIT UNIONS

1607 STRATEGIES, LLC

on behalf of Cyberlux Corporation

2024

FINANCIAL INSTITUTIONS/INVESTMENTS/SECDEFENSE

Regulations and oversight related to over-the-counter traded companies. Issues related to capital markets. Issues related to drone capabilities.

1607 STRATEGIES, LLC

on behalf of Cyberlux Corporation

2024

FINANCIAL INSTITUTIONS/INVESTMENTS/SECDEFENSE

Regulations and oversight related to over-the-counter traded companies. Issues related to capital markets. Issues related to drone capabilities.

1607 STRATEGIES, LLC

on behalf of Cyberlux Corporation

2024

FINANCIAL INSTITUTIONS/INVESTMENTS/SEC

Regulations and oversight related to over-the-counter traded companies. Issues related to capital markets.

1607 STRATEGIES, LLC

on behalf of Cyberlux Corporation

2024

FINANCIAL INSTITUTIONS/INVESTMENTS/SEC

Regulations and oversight related to over-the-counter traded companies.

1607 STRATEGIES, LLC

on behalf of Cyberlux Corporation

2023

FINANCIAL INSTITUTIONS/INVESTMENTS/SEC

Regulations and oversight related to over-the-counter traded companies.

Ally Financial Inc.

$980,000

2013

FINANCIAL INSTITUTIONS/INVESTMENTS/SECHOUSINGINSURANCETELECOMMUNICATIONS

Proposals regarding financial regulatory reform implementation- relating to consumer loans, regulatory oversight and consumer products, implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 including HR 613 The Systemic Risk Mitigation Act of 2013; S.451 Dodd-Frank Wallstreet Reform and Consumer Protection Technical Corrections Act of 2013; Financial Literacy & Education Efforts.

Ally Financial Inc.

$370,000

2012

FINANCIAL INSTITUTIONS/INVESTMENTS/SECHOUSINGINSURANCETELECOMMUNICATIONS

Proposals regarding financial regulatory reform implementation- relating to consumer loans, regulatory oversight and consumer products, implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010; Financial Literacy & Education Efforts.

Sponsors

Show 1 more sponsor

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

cross reference90% confidence

Bipartisan Regulatory Consensus

The inclusion of a letter signed by former Treasury Secretaries from both Democratic and Republican administrations (Geithner, Lew, Yellen, Bernanke) suggests a high level of cross-party consensus on specific regulatory amendments.

Connected Entities

personRodney E. HoodChairman, National Credit Union Administration (NCUA)Map →
personSherrod BrownRanking member of the Senate Committee on Banking, Housing, and Urban AffairsMap →
personRandal K. QuarlesVice Chairman for Supervision, Federal ReserveMap →
personJoseph M. OttingComptroller of the CurrencyMap →
personJelena McWilliamsChairman, Federal Deposit Insurance Corporation (FDIC)Map →
personMike CrapoChairman of the Senate Committee on Banking, Housing, and Urban AffairsMap →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100
  • Significance65
    How much this matters to a regular citizen
  • Controversy20
    Intensity of disagreement among stakeholders
  • Entertainment5
    Compellingness for a non-policy-wonk reader
  • Buzz10
    Current news / social attention level

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