Minority Press Releases

March 15, 2018

Senate Passes Crapo’s Economic Growth, Regulatory Relief and Consumer Protection Act

WASHINGTON - Today, the United States Senate, under the leadership of Banking Committee Chairman Mike Crapo (R-Idaho), passed the most significant piece of regulatory reform legislation for community financial institutions in nearly a decade. Crapo's Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) passed the Senate by a strong, bipartisan vote of 67 to 31. To view a section-by-section summary, click here. Before the final vote on passage, Chairman Crapo remarked that … Continue Reading


March 8, 2018

Crapo: Regulatory Burden Directly Impacts Our States

WASHINGTON - This week, Senator Crapo has been highlighting the benefits of his Economic Growth, Regulatory Relief and Consumer Protection Act, S. 2155. After joining with colleagues from the Senate Banking Committee to discuss the legislation, Senator Crapo returned to the Senate Floor to talk about the regulatory burden on small institutions and how his regulatory relief bill can help. In July 20, 2016, the American Action Forum attempted to estimate the number of paperwork hours and final co… Continue Reading


March 7, 2018

Crapo Speaks on Senate Floor about Bipartisan Regulatory Relief Package

WASHINGTON - Idaho Senator Mike Crapo, Chairman of the Senate Banking Committee, joined several of his colleagues from the Committee to discuss his bill, the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155), which is being debated on the Senate Floor this week. Each of the senators highlighted why this bill is important for their states, sharing stories about access to capital, the benefits of relationship banking, Dodd-Frank's unintended consequences, and consumer protec… Continue Reading


March 6, 2018

Small Financial Institutions Across the Country Support S. 2155

WASHINGTON - This week, the full Senate will consider Banking Committee Chairman Mike Crapo's S. 2155, the "Economic Growth, Regulatory Relief and Consumer Protection Act." Co-sponsored by 13 Republicans, 12 Democrats and 1 Independent, this bipartisan legislation right-sizes regulation for smaller financial institutions and includes important consumer protections for veterans, senior citizens and victims of fraud. It will improve our nation's financial regulatory framework for Main Street banks… Continue Reading


March 3, 2018

Crapo, Hensarling File Amicus Brief in Support of CFPB Acting Director Mulvaney

WASHINGTON - Today, 38 Senators and 75 Representatives, led by Senate Banking Committee Chairman Mike Crapo (R-Idaho) and House Financial Services Committee Chairman Jeb Hensarling (R-Texas), filed an amicus brief in support of Acting Director Mulvaney and the President's authority to designate an Acting Director of the Consumer Financial Protection Bureau (CFPB) under the Federal Vacancies Reform Act (FVRA). "The Federal Vacancies Reform Act has been U.S. law for 20 years," said Chairman Crapo… Continue Reading


February 8, 2018

Crapo Statement at Hearing on Virtual Currency

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the United States Senate Committee on Banking, Housing and Urban Affairs, today delivered the following remarks during a full committee hearing entitled "Virtual Currencies: The Oversight Role of the SEC and CFTC." The text of Chairman Crapo's remarks, as prepared, is below. "This morning, we will receive testimony from SEC Chairman Jay Clayton and CFTC Chairman Chris Giancarlo on the growing world of virtual currencies and the oversi… Continue Reading


January 30, 2018

Crapo Statement at Hearing on FSOC Annual Report

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the United States Senate Committee on Banking, Housing and Urban Affairs, today delivered the following remarks during a full committee hearing entitled "The Financial Stability Oversight Council Annual Report to Congress." The text of Chairman Crapo's remarks, as prepared, is below. "Today, Treasury Secretary Steven Mnuchin will testify on the Financial Stability Oversight Council's 2017 annual report and the operations and actions o… Continue Reading


January 26, 2018

Crapo Encourages Colleagues to Support Powell Nomination

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the United States Senate Committee on Banking, Housing and Urban Affairs, today delivered the following remarks as the Senate voted on the confirmation of Jerome Powell to be Chairman of the Board of Governors of the Federal Reserve System. Powell was confirmed by the full Senate, 84-13. "Mr. President, I rise in support of the nomination of The Honorable Jerome, or 'Jay,' Powell to be Chairman of the Board of Governors of the Federal… Continue Reading


January 25, 2018

Crapo Statement at Nominations Hearing

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the United States Senate Committee on Banking, Housing and Urban Affairs, today delivered the following remarks during a full committee hearing on the nominations of Ms. Jelena McWilliams, of Ohio, to be Chairperson and a Member of the Board of Directors of the Federal Deposit Insurance Corporation; Dr. Marvin Goodfriend, of Pennsylvania, to be a Member of the Board of Governors of the Federal Reserve System; and Mr. Thomas E. Workman, … Continue Reading


January 25, 2018

Crapo Statement at CFIUS Reform Hearing, Part II

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the United States Senate Committee on Banking, Housing and Urban Affairs, today delivered the following remarks during a full committee hearing entitled "CFIUS Reform: Administration Perspectives on the Essential Elements." The text of Chairman Crapo's remarks, as prepared, is below. "This morning, we will receive testimony for a third time this Congress on the role of the Committee on Foreign Investment in the United States, or 'CFI… Continue Reading


January 19, 2018

Crapo Statement at Hearing on CFIUS Reform

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the United States Senate Committee on Banking, Housing and Urban Affairs, today delivered the following remarks during a full committee hearing entitled "CFIUS Reform: Examining the Essential Elements." The text of Chairman Crapo's remarks, as prepared, is below. "Today the Committee will begin to evaluate the essential national security elements underlying a comprehensive proposal to reform the review process used by the Committee on… Continue Reading


January 17, 2018

Crapo Statement at Money Laundering Hearing, Administration Perspective

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the United States Senate Committee on Banking, Housing and Urban Affairs, today delivered the following remarks during a full committee hearing entitled "Combating Money Laundering and Other Forms of Illicit Finance: Administration Perspectives on Reforming and Strengthening BSA Enforcement." The text of Chairman Crapo's remarks, as prepared, is below. "This morning, the Committee will receive testimony from Treasury and Justice Depar… Continue Reading


January 9, 2018

Crapo Statement at Money Laundering Hearing

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the United States Senate Committee on Banking, Housing and Urban Affairs, today delivered the following remarks during a full committee hearing entitled "Combating Money Laundering and Other Forms of Illicit Finance: Opportunities to Reform and Strengthen BSA Enforcement." The text of Chairman Crapo's remarks, as prepared, is below. "Today's hearing is the first of two currently planned hearings to explore the difficult issues underly… Continue Reading


December 5, 2017

Banking Committee Advances S. 2155, the “Economic Growth, Regulatory Relief and Consumer Protection Act.”

WASHINGTON - Today, the Senate Banking Committee advanced the bipartisan "Economic Growth, Regulatory Relief and Consumer Protection Act," S. 2155, with 16 committee members supporting the measure. The bill will modernize regulations in a way that makes sense for small financial institutions, benefitting consumers and encouraging economic growth. S. 2155 primarily benefits credit unions, community banks, midsize banks, smaller regional banks and custody banks. It also includes important, signif… Continue Reading


December 5, 2017

Crapo Statement at Markup of S. 2155, the “Economic Growth, Regulatory Relief and Consumer Protection Act.”

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the United States Senate Committee on Banking, Housing and Urban Affairs, today delivered the following remarks during a full committee markup of S. 2155, the "Economic Growth, Regulatory Relief and Consumer Protection Act." The text of Chairman Crapo's remarks, as prepared, is below. "In March, the Banking Committee issued a request for legislative proposals to help foster economic growth. "We received over 100 submissions from a br… Continue Reading


December 4, 2017

What They're Saying About S. 2155, the "Economic Growth, Regulatory Relief and Consumer Protection" Act

WASHINGTON - Tomorrow, the U.S. Senate Committee on Banking, Housing and Urban Affairs will mark up S. 2155, the "Economic Growth, Regulatory Relief and Consumer Protection Act." Co-sponsored by 10 Republican and 10 Democrat senators, this bipartisan legislation right-sizes regulation for smaller financial institutions and includes important consumer protections for veterans, senior citizens and victims of fraud. It will improve our nation's financial regulatory framework for Main Street banks, … Continue Reading


November 28, 2017

Crapo Statement at Federal Reserve Nomination Hearing

WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the United States Senate Committee on Banking, Housing and Urban Affairs, today delivered the following remarks during a full committee hearing on the nomination of the Honorable Jerome H. Powell, of Maryland, to be Chairman of the Board of Governors of the Federal Reserve System. The text of Chairman Crapo's remarks, as prepared, is below. "This morning we will consider the nomination of the Honorable Jerome or 'Jay' Powell to be Cha… Continue Reading


November 16, 2017

Banking Committee to Mark Up the “Economic Growth, Regulatory Relief and Consumer Protection Act” on December 5

WASHINGTON - Today, U.S. Senators released the text of the Economic Growth, Regulatory Relief and Consumer Protection Act. The bipartisan legislation right-sizes regulation for smaller financial institutions and includes important consumer protections for veterans, senior citizens and victims of fraud. Importantly, it will improve our nation's financial regulatory framework for Main Street banks, encouraging economic growth in local communities. Republican Co-Sponsors: Mike Crapo (R-Idaho), Bob… Continue Reading


November 13, 2017

Senators Announce Agreement on Economic Growth Legislation

Washington, D.C. - Today, Senate Banking Committee Chairman Mike Crapo (R-Idaho) and Banking Committee members Joe Donnelly (D-Indiana), Heidi Heitkamp (D-North Dakota), Jon Tester (D-Montana) and Mark Warner (D-Virginia), along with other senators, announced an agreement on legislative proposals to improve our nation's financial regulatory framework and promote economic growth. Last spring, the Banking Committee issued a request for legislative proposals from stakeholders, companies and consume… Continue Reading


November 9, 2017

Banking Committee Advances North Korea Sanctions Bill

WASHINGTON, D.C. - Today, the U.S. Senate Committee on Banking, Housing and Urban Affairs advanced the "Otto Warmbier Banking Restrictions Involving North Korea Act of 2017." The bill is titled in honor of Ohioan Otto Warmbier, who lost his life after being held prisoner by the North Korean regime. The bill, as amended, was passed unanimously by the Banking Committee. A North Korea armed with nuclear weapons presents an existential threat to several of its Asian neighbors, as well as a great d… Continue Reading

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