Majority Press Releases

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


June 27, 2019

Crapo Statement at Hearing on the Reauthorization of the Export-Import Bank

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 and Reauthorization of the Export-Import Bank of the United States.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today, the Committee turns its focus to the Export-Import (EXIM) Bank of the United States. “Just last month, the Senate confirmed Kimberly Reed to be President and Chairm… Continue Reading


June 25, 2019

Crapo Statement at Hearing on Fannie, Freddie SIFI Designation

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 “Should Fannie Mae and Freddie Mac be Designated as Systemically Important Financial Institutions?”  The text of Chairman Crapo’s remarks, as prepared, is below.  “Today, the Committee returns its focus once again to the state of our housing finance system. “We are quickly approaching the eleven-year mark since th… Continue Reading


June 20, 2019

Crapo Statement at Beneficial Ownership Hearing: Outside Perspectives

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 “Outside Perspectives on the Collection of Beneficial Ownership Information.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today, the Committee will continue its discussion of how better collection of beneficial ownership information can deter such problems as money laundering, terrorist financi… Continue Reading


June 18, 2019

Crapo Statement at TRIA Reauthorization 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 “The Reauthorization of the Terrorism Risk Insurance Program.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today, we are joined by three witnesses who have evaluated and written extensively on the Terrorism Risk Insurance Program, including Mr. Tarique Nageer, Terrorism Placement and Advisory L… Continue Reading


June 11, 2019

Crapo Statement at Data Privacy 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 “Data Brokers and the Impact on Financial Data Privacy, Credit, Insurance, Employment and Housing.” The text of Chairman Crapo’s remarks, as prepared, is below.  “Providing testimony to the Committee today are experts who have researched and written extensively on big data: Dr. Alicia Cackley, Director of Financi… Continue Reading


June 5, 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 hearing to consider the nominations of Mr. Thomas Peter Feddo, of Virginia, to be an Assistant Secretary of the Treasury for Investment Security; The Honorable Nazak Nikakhtar, of Maryland, to be Under Secretary of Commerce for Industry and Security; Mr. Ian Paul Steff, of Indiana, to be Assistant Secretary of Commerce and Direct… Continue Reading


June 4, 2019

Crapo Statement at Hearing on Confronting Threats from China

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: “Confronting Threats From China: Assessing Controls on Technology and Investment, and Measures to Combat Opioid Trafficking.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today, June 4, marks the 30th anniversary of China’s brutal Communist government crackdown on unarmed, civilian protestors… Continue Reading


May 21, 2019

Crapo Statement at Hearing on Beneficial 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: “Combating Illicit Financing by Anonymous Shell Companies Through the Collection of Beneficial Ownership Information.” The text of Chairman Crapo’s remarks, as prepared, is below. “The hearing will come to order. Welcome back to our panel of witnesses from our last hearing in November. “The committee will hear… Continue Reading


May 17, 2019

Crapo Statement at Hearing with Financial 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 the Financial Regulators.”   The text of Chairman Crapo’s remarks, as prepared, is below.  “Today we will receive testimony from Randy Quarles, Federal Reserve Vice Chairman for Supervision; Joseph Otting, OCC Comptroller of the Currency; Jelena McWilliams, Chairman of the FDIC; and Rodney Hood, Cha… Continue Reading

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