Minority Press Releases
President Signs Crapo Banking Bill Into Law
WASHINGTON - Community banks and credit unions across the country will soon receive regulatory relief from onerous regulations thanks to Idaho Senator Mike Crapo’s Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155), which was signed into law today. As Chairman of the Senate Banking Committee, Senator Crapo worked with his colleagues in the Senate, House, and outside groups and stakeholders to craft and usher this bipartisan banking legislation through Congress and to … Continue Reading
May 23, 2018
Crapo Statement at FHFA 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 “Ten Years of Conservatorship: The Status of the Housing Finance System.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today, we will receive testimony from Federal Housing Finance Agency Director Mel Watt on the status of Fannie Mae, Freddie Mac, and the broader housing finance system. “The Ban… Continue Reading
May 22, 2018
Banking Committee Advances CFIUS Legislation
WASHINGTON - Today, the U.S. Senate Committee on Banking, Housing and Urban Affairs advanced the “the Foreign Investment Risk Review Modernization Act of 2017 (FIRRMA).” The bill, as amended, was voted out unanimously 25-0 by the Banking Committee. Access the amended bill text here. “Today’s action represents a very serious, bipartisan effort to address steps by China and other nations to acquire technologies and know-how key to U.S. national security,” said Chairman Crapo. “I thank all … Continue Reading
May 22, 2018
Crapo Statement on House Passage of the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155)
WASHINGTON - Idaho Senator Mike Crapo, Chairman of the Senate Banking Committee, issued the following statement upon House passage of the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155): “This is a moment years in the making, and I thank my colleagues in the Senate and the House of Representatives for their partnership and contributions to this effort over the years,” said Chairman Crapo. “This step toward right-sizing regulation will allow local banks and credi… Continue Reading
May 22, 2018
Crapo Statement at Markup of the “Foreign Investment Risk Review Act of 2017”
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 mark up the Foreign Investment Risk Review Act of 2017, S. 2098. The text of Chairman Crapo’s remarks, as prepared, is below. “Today, we will mark up and vote on S.2098, the ‘Foreign Investment Risk Review Modernization Act of 2017,’ or simply, ‘FIRRMA,’ together with a Crapo-Brown substitute amendment and i… Continue Reading
May 15, 2018
Crapo Statement at Federal Reserve 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 the Honorable Richard Clarida, of Connecticut, to be a member and Vice Chairman of the Board of Governors of the Federal Reserve System, and Commissioner Michelle Bowman, of Kansas, to be a member of the Board of Governors of the Federal Reserve System. The text of Chairman Crapo’s remarks, a… Continue Reading
May 11, 2018
Banking Committee Releases Discussion Draft on CFIUS Reform
WASHINGTON - Today, U.S. Senate Committee on Banking, Housing and Urban Affairs Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio) released a discussion draft of the Committee’s amendment to Senators Cornyn and Feinstein’s legislation to reform the Committee on Foreign Investment in the United States (CFIUS), S. 2098, the Foreign Investment Risk Review Modernization Act of 2017 (FIRRMA). “I thank Senator Brown for his partnership on this bipartisan discussion draft t… Continue Reading
April 19, 2018
Crapo Statement at Federal Reserve 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 “The Semiannual Testimony on the Federal Reserve’s Supervision and Regulation of the Financial System.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today we will receive testimony from Federal Reserve Vice Chairman of Supervision Randy Quarles regarding the efforts, activities, objectives, and p… Continue Reading
April 18, 2018
Chairman Crapo on the CFPB Auto Lending CRA
WASHINGTON - Idaho Senator Mike Crapo, Chairman of the Senate Banking Committee, delivered remarks on the Senate Floor today, encouraging his colleagues to support S.J. Res. 57, a Congressional Review Act Resolution to disapprove the CFPB's 2013 Auto Bulletin. Senator Crapo's remarks, as prepared, are below. “Mr. President, I rise today to offer my support for Senator Moran’s and Toomey’s resolution using the Congressional Review Act to disapprove the CFPB’s 2013 auto finance guidance. “It is… Continue Reading
April 17, 2018
Crapo Statement at 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 nomination hearing for nominees to the Federal Transit Administration, the Department of Commerce, and the Department of Housing and Urban Development. The text of Chairman Crapo’s remarks, as prepared, is below. “This morning, we will consider the nominations of three more individuals to serve in key leadership posts within the … Continue Reading
April 12, 2018
Crapo Statement at CFPB 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 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 hear from CFPB Acting Director Mick Mulvaney on the most recent Semi-Annual Report of the Consumer Financial Protection Bureau, and the Bureau’s activities since his appointment i… Continue Reading
March 22, 2018
Crapo Statement at HUD 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 during a full committee hearing with Housing and Urban Development Secretary Ben Carson. The text of Chairman Crapo's remarks, as prepared, is below. "Today, the Committee will receive testimony from Dr. Ben Carson, the 17th Secretary of Housing and Urban Development. Welcome back, Mr. Secretary. "Over the past year, Secretary Carson has … Continue Reading
March 15, 2018
Relief for Main Street
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
