Majority Press Releases

December 10, 2019

Crapo Statement at SEC Oversight Hearing

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing entitled “Oversight of the Securities and Exchange Commission.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today we will receive testimony from Securities and Exchange Commission Chairman Jay Clayton regarding the work and agenda of the SEC. “I thank you for your willingness to appear before the Com… Continue Reading


December 5, 2019

Crapo Statement at Hearing with Prudential Regulators

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing entitled “Oversight of Financial Regulators.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today we will receive testimony from: the Honorable Randal Quarles, Federal Reserve Vice Chairman for Supervision; the Honorable Jelena McWilliams, Chairman of the FDIC; and the Honorable Rodney Hood, Chairman of t… Continue Reading


November 20, 2019

Crapo Statement at Nomination Hearing

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a nomination hearing for individuals nominated to the Department of the Treasury, the Department of Housing and Urban Development, and the Export-Import Bank. The text of Chairman Crapo’s remarks, as prepared, is below.  “This morning, the Committee will receive testimony from five nominees who have been selected to serve in key ro… Continue Reading


November 20, 2019

Crapo Statement at TRIA Markup

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing to mark up S. 2877, the “Terrorism Risk Insurance Program Reauthorization Act of 2019.” The text of Chairman Crapo’s remarks, as prepared, is below. “The Terrorism Risk Insurance Act of 2002, or TRIA, established the Terrorism Risk Insurance Program in response to widespread unavailability of terrorism risk insurance in … Continue Reading


November 20, 2019

Banking Committee Advances Bipartisan Terrorism Risk Insurance Program Reauthorization

WASHINGTON - Today, the U.S. Senate Committee on Banking, Housing and Urban Affairs advanced S. 2877, the “Terrorism Risk Insurance Program Reauthorization Act of 2019” out of committee with unanimous support. This legislation extends the existing TRIA program for seven years while taking steps to further protect taxpayers. “The terrorist attacks on September 11, 2001 devastated U.S. citizens, households and businesses, and a lack of insurance coverage had a destabilizing effect on our… Continue Reading


November 7, 2019

Crapo Statement at Hearing on Affordable, Safe Housing Legislation

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing entitled, “Examining Bipartisan Bills to Promote Affordable Housing Access and Safety.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today, the Committee will receive testimony from leaders in the housing community on bipartisan opportunities this Congress to expand access to affordable housing, to improv… Continue Reading


October 24, 2019

Crapo Statement at Hearing on Data Ownership

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing entitled, “Data Ownership: Exploring Implications for Data Privacy Rights and Data Valuation.” The text of Chairman Crapo’s remarks, as prepared, is below. “We welcome to the Committee four witnesses with extensive experience and a range of perspectives on issues related to data ownership, valuation and privacy, includin… Continue Reading


October 22, 2019

Crapo Statement at Hearing on the Consolidated Audit Trail

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing entitled, “Oversight of the Status of the Consolidated Audit Trail.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today’s hearing will focus on oversight of the status of the Consolidated Audit Trail, commonly referred to as the ‘CAT.’ “In 2010, in response to the Flash Crash and a number of other market… Continue Reading


October 17, 2019

Crapo Statement at CFPB Semi-Annual Report

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing entitled, “The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today, we will receive testimony from CFPB Director Kathy Kraninger on the CFPB’s semiannual report. “On October 07, the CFPB issued its Spring 2019 Semiannual Report, whic… Continue Reading


October 10, 2019

Crapo Statement on Federal Reserve’s Vote to Right-Size Regulation

WASHINGTON - Today, consistent with the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155), and additional efforts by the Federal Reserve, the Federal Reserve finalized the framework for applying prudential standards to institutions based on their risk profiles. Appropriately tailoring regulatory capital, stress testing, and liquidity regulations not only ensures proper behavior and safety for our markets, but makes sure that the burden on financial institutions is n… Continue Reading


September 25, 2019

Crapo Statement at Faster Payments Hearing

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing entitled, “Facilitating Faster Payments in the U.S.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today, the Committee will turn its focus to facilitating faster payments in the United States. “Faster payments are important and yield economic benefits for both consumers and businesses by providing the… Continue Reading


September 12, 2019

Crapo Statement at Hearing on International Insurance

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing entitled, “Developments in Global Insurance Supervisory and Regulatory Forums.” The text of Chairman Crapo’s remarks, as prepared, is below.  “Today, we welcome to the Committee the three members of ‘Team USA’ representing the U.S. in international insurance supervisory and regulatory forums, including: Steven Seitz, Dire… Continue Reading


September 10, 2019

Crapo Statement at Housing Finance Reform Hearing

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing entitled, “Housing Finance Reform: Next Steps.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today, we are joined by the leading voices within the Administration on reforming and strengthening our housing finance system: the Secretary of the Treasury and the Secretary of Housing and Urban Development, bo… Continue Reading


September 5, 2019

Crapo Statement on Administration Housing Reform Plans

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, issued the following statement on the housing reform reports issued today by the Administration: “Earlier this year, I released a housing finance reform outline that would fix our flawed housing finance system by establishing stronger levels of taxpayer protection, preserving the 30-year fixed rate mortgage, increasing competition among mortgage guarantors an… Continue Reading


July 30, 2019

Crapo Statement at Hearing on Digital Currencies and Blockchain

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing entitled, ““Examining Regulatory Frameworks for Digital Currencies and Blockchain.” The text of Chairman Crapo’s remarks, as prepared, is below. “Last Congress, this Committee held two hearings examining the digital currency ecosystem. “In those hearings, we heard about some of the developments that have occurred within… Continue Reading


July 23, 2019

Crapo Statement at Hearing on Cannabis Banking

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing entitled, "Challenges for Cannabis and Banking: Outside Perspectives." The text of Chairman Crapo's remarks, as prepared, is below. "Today, the Committee will hear from witnesses about the challenges that state-sanctioned businesses in the cannabis-industry have when attempting to access mainstream financial services. "Und… Continue Reading


July 18, 2019

Crapo Statement at Hearing on Export Controls

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing entitled, “Export Control Reform Implementation: Outside Perspectives.” The text of Chairman Crapo’s remarks, as prepared, is below.  “The hearing will come to order. “No one can dispute that technological advances are of vital importance to United States progress and development, where progress in knowledge and innovation… Continue Reading


July 16, 2019

Crapo Statement at Facebook Hearing

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing entitled, “Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today we will receive testimony from David Marcus, Head of Calibra at Facebook. “On May 9, Senator Brown and I sent a letter to Facebook shortly after it was reported… Continue Reading


July 11, 2019

Crapo Statement at Hearing on the Semiannual Monetary Policy Report to Congress

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, delivered the following remarks at a hearing entitled "The Semiannual Monetary Policy Report to the Congress." The text of Chairman Crapo's remarks, as prepared, is below. "We welcome Chairman Powell back to the Committee for the Federal Reserve's Semi-Annual Monetary Policy Report to Congress. "In this hearing, the Banking Committee will evaluate the current state o… Continue Reading


July 9, 2019

Banking Committee Schedules Hearing on Facebook’s Cryptocurrency

WASHINGTON - The United States Senate Committee on Banking, Housing and Urban Affairs has scheduled a hearing on Facebook’s proposed digital currency and data privacy concerns.  Witnesses will be announced at a later date.   TUESDAY, July 16, 2019  Full Committee Hearing: “Examining Facebook’s Proposed Digital Currency and Data Privacy Considerations.”  Witness: Mr. David A. Marcus, Head of Calibra, Facebook. Time and Location: 10:00 a.m. in room 216 of the Hart Senate Office Building.  Due… Continue Reading

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