Minority Press Releases

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


June 4, 2020

Crapo Statement at Title IV Implementation 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 remote hearing on implementation of Title IV of the CARES Act. The text of Chairman Crapo’s remarks, as prepared, is below. “This hearing is another remote hearing via video. “A few videoconferencing reminders: once you start speaking, there will be a slight delay before you are displayed on screen. To minimize background noi… Continue Reading

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