Minority Press Releases
Crapo Floor Statement on Rental Assistance
As prepared for delivery: “Madam President - reserving the right to object - you know, it's remarkable that we see here a series of unanimous consent requests to pass legislation without debate, without amendment, without the opportunity for amendment and improvement, and just a few hours after refusal to proceed to legislation where we could do just that. “Legislation that had 500 billion dollars of additional assistance for the American people, legislation that did address these unempl… Continue Reading
October 20, 2020
Crapo Floor Statement on Community Reinvestment Act
“Mr. President, I rise to oppose the resolution vacating the OCC’s final rule on the Community Reinvestment Act (CRA). “Acting Comptroller of the Currency Brian Brooks has noted, ‘The new Community Reinvestment Act rule was finalized for one reason - to promote more lending and investment in underserved areas - including low- and moderate-income neighborhoods.’ “The new rule includes several key changes. It clarifies what counts for CRA credit; updates where activity is evaluated; evaluates… Continue Reading
September 24, 2020
Crapo Statement at Quarterly CARES Act 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 hybrid hearing on the “Quarterly CARES Act Report to Congress.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today we welcome our witnesses to this hearing: The Honorable Steven T. Mnuchin, Secretary of the Department of the Treasury; and The Honorable Jerome H. Powell, Chairman of the Board of Governors of the… Continue Reading
September 23, 2020
Crapo Statement on SEC Action Modernizing Shareholder Proposals
WASHINGTON, D.C. - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, issued the following statement on the Securities and Exchange Commission’s (SEC) adoption of amendments to Exchange Act Rule 14a-8, the shareholder-proposal rule. “I commend the SEC for finalizing its efforts to modernize shareholder proposal thresholds. Commissioner Roisman, incorporating years of engagement with investors and market participants, diligently spearheaded these efforts,… Continue Reading
September 9, 2020
Crapo Statement at Hearing on the Status of the Federal Reserve Emergency Lending Facilities
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 virtual hearing on the status of the Federal Reserve’s emergency lending facilities. The text of Chairman Crapo’s remarks, as prepared, is below. “Today we welcome to this virtual hearing the following witnesses: Mr. Hal Scott, President, Committee on Capital Markets Regulation; Mr. Jeffrey DeBoer, President and Chief Executive O… Continue Reading
September 1, 2020
Crapo Letter to OCC on Cryptocurrency, Payments
WASHINGTON, D.C. - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, today sent a letter to the Office of the Comptroller of the Currency (OCC) encouraging it to develop rules of the road for the use of cryptocurrencies and/or distributed ledger technology (DLT) in payments for national banks. The OCC is seeking input on the digital activities of banks and federal savings associations. Chairman Crapo’s letter requests an update on its findings and i… Continue Reading
August 28, 2020
Crapo Letter to SEC on Fall Regulatory Agenda
WASHINGTON, D.C. - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, sent a letter to Jay Clayton, Chairman of the Securities and Exchange Commission (SEC), thanking him for his regulatory work to date and encouraging efforts to finalize certain rules as part of the SEC’s fall regulatory agenda. Read the letter here or below. August 27, 2020 The Honorable Jay ClaytonChairmanSecurities and Exchange Commission100 F Street, NEWashington, DC 20549 Dear … Continue Reading
August 26, 2020
Crapo Commends SEC for Increasing Investor Participation and Expanding Access to Capital Markets
WASHINGTON, D.C. - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, issued the following statement regarding the Securities and Exchange Commission’s (SEC) adoption of amendments to update and improve the definition of “accredited investor” in the Commission’s rules and the definition of “qualified institutional buyer” in Rule 144A under the Securities Act of 1933. “I have encouraged the SEC to expand and modernize the definitions of an accredited inv… Continue Reading
August 14, 2020
Crapo Requests Information on GSE Refinance Fee
WASHINGTON, DC - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, sent a letter to Federal Housing Finance Agency (FHFA) Director Mark Calabria regarding the adverse market refinance fee announced earlier this week. The letter requests that the FHFA provide the Committee with information regarding the basis of the policy change, as well as the method in which it was rolled out. Read the letter to the FHFA here. ###… Continue Reading
August 10, 2020
Crapo, McHenry Call on Treasury and Federal Reserve to Fully Utilize COVID-19 Relief Funds
WASHINGTON - Today, Banking Committee Chairman Mike Crapo (R-Idaho) and the Republican leader of the House Committee on Financial Services, Patrick McHenry (R-North Carolina), urged the Treasury Secretary and Federal Reserve Chairman to utilize the remaining funds in the Exchange Stabilization Fund (ESF) to its fullest extent. The ESF provides a critical economic backstop with the potential to unleash trillions of dollars in liquidity to support businesses and employees in need. In their let… Continue Reading
July 31, 2020
Crapo Recommends Extension, Expansion of COVID-19 Relief
WASHINGTON, DC - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, today sent two letters to financial agencies and regulators urging the extension and expansion of existing provisions key to providing relief and economic stability. The first letter encourages the Federal Reserve and Treasury Department to quickly expand the Main Street Lending Program by setting up an asset-based lending program and commercial real estate program. The second letter re… Continue Reading
July 29, 2020
Crapo Statement at CFPB Semi-Annual 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 virtual hearing to receive 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 July 2, the CFPB issued its Spring 2020 Semiannual Report, whi… Continue Reading
July 21, 2020
Crapo Statement at Executive Session to Vote on Federal Reserve Nominees
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 an executive session to vote on the nominations of The Honorable Dr. Judy Shelton, to be a Member of the Board of Governors of the Federal Reserve; and Dr. Christopher Waller, to be a Member of the Board of Governors of the Federal Reserve. The text of Chairman Crapo’s remarks, as prepared, is below. “Today, the Committee will vote… Continue Reading
July 21, 2020
Crapo Statement at SEC, NCUA Nominations 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 virtual hearing to consider the nominations of The Honorable Hester Peirce, of Ohio, to be a Member of the Securities and Exchange Commission; Mrs. Caroline Crenshaw, of the District of Columbia, to be a Member of the Securities and Exchange Commission; and Mr. Kyle Hauptman, of Maine, to be a Member of the National Credit Union A… Continue Reading
June 30, 2020
Crapo Statement at Digital Currency 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 virtual hearing entitled, “The Digitization of Money and Payments.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today, the Committee will hear testimony on the digital transformation of money and payments. “We will discuss how it has enabled more efficient technologies, ushered in new players and business model… Continue Reading
June 29, 2020
Crapo Commends Supreme Court Ruling on CFPB’s Unconstitutional Structure
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 regarding the Supreme Court’s decision in Seila Law LLC vs Consumer Financial Protection Bureau (CFPB): “It has long been my position that the CFPB’s current single director structure lacks sufficient transparency and accountability, and today’s decision affirms that the fundamental structure of the agency must be reconsidered. I conti… Continue Reading
June 26, 2020
Crapo Statement at Export-Import Bank 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 hybrid hearing to conduct oversight of the Export-Import Bank of the United States. The text of Chairman Crapo’s remarks, as prepared, is below. “Welcome to our witness, the Honorable Kimberly Reed, President and Chairman of the Board of the Export-Import Bank of the United States. “We welcome you back, Chairman Reed. It has be… Continue Reading
June 16, 2020
Crapo Statement at Federal Reserve Semiannual Monetary Policy 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 virtual hearing on the Federal Reserve’s semiannual monetary policy report to Congress. The text of Chairman Crapo’s remarks, as prepared, is below. “Today, Federal Reserve Chairman Jerome Powell will update the Committee on monetary policy developments and the state of the U.S. economy. “It has only been four months since the l… Continue Reading
June 9, 2020
Crapo Statement at Housing 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 hybrid hearing entitled, “Oversight of Housing Regulators.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today, we welcome the federal housing regulators, The Honorable Benjamin S. Carson, Secretary of Housing and Urban Development, and The Honorable Mark A. Calabria, Director, Federal Housing Finance Agency. “W… Continue Reading
June 4, 2020
Crapo Statement at Hearing on the Crisis in Hong Kong
WASHINGTON - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs, submitted the following statement for the record at a remote hearing entitled, “Crisis in Hong Kong: A Review of U.S. Policy Tools.” The text of Chairman Crapo’s statement, as prepared, is below. “Today is a significant day, in a number of respects. “Today, the Committee meets to assess what options it may have to inject some leverage or restraint into an escalati… Continue Reading
