Minority Press Releases

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


May 19, 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 hearing entitled “The Quarterly CARES Act Report to Congress,” with the Honorable Steven T. Mnuchin, Secretary, Department of the Treasury; and the Honorable Jerome H. Powell, Chairman, Board of Governors of the Federal Reserve System, providing testimony. The text of Chairman Crapo’s remarks, as prepared, is below. “We are all … Continue Reading


May 12, 2020

Banking Committee Advances Miller, Wade Nominations

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 following nominations: The Honorable Brian D. Miller, of Virginia, to be Special Inspector General for Pandemic Recovery, U.S. Department of the Treasury; and Mrs. Dana T. Wade, of the District of Columbia, to be Assistant Secretary, U.S. Department of Housing and Urban Development. Mr. Miller wa… Continue Reading


May 12, 2020

Crapo Statement at Financial Regulator 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, “Oversight of the Financial Regulators.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today we welcome to this virtual hearing the federal prudential regulators: Federal Reserve Vice Chairman of Supervision, Randy Quarles; Comptroller of the Office of the Comptroller of the Currency, Joseph Ot… Continue Reading


May 5, 2020

Crapo Statement at Nomination Hearing for Brian Miller, Dana Wade

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 Brian Miller, of Virginia, to be Special Inspector General for Pandemic Recovery at the Department of Treasury; and Mrs. Dana Wade, of the District of Columbia, to be Assistant Secretary for Housing and Federal Housing Commissioner at the U.S. Department of Housing and Urban Dev… Continue Reading


April 16, 2020

Crapo Outlines Robust Oversight Requirements in Title IV of CARES Act, Urges Action on Lending Facilities

WASHINGTON, DC - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, sent two letters to the U.S. Department of Treasury and Federal Reserve Board of Governors today on provisions under Title IV of the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides $500 billion in emergency relief in order to stabilize the marketplace. The first letter highlights the Committee’s robust oversight role over Title IV of the CARES Act.  Oversight activ… Continue Reading


April 8, 2020

Crapo Commends SEC for COVID-19 Response, Requests Information on Additional Actions

WASHINGTON, D.C. - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, sent a letter to Securities and Exchange Commission Chairman Jay Clayton applauding the agency for its quick, decisive actions in response to the COVID-19 health care crisis.  Crapo also requested input on additional steps or statutory changes the SEC needs in order to mitigate the economic impact of COVID-19. From the letter:  “I commend the SEC for balancing the emergency responses to COVID-… Continue Reading


April 8, 2020

Crapo Encourages Agencies, Regulators to Help Lenders and Borrowers

WASHINGTON, DC - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, issued an update on the Paycheck Protection Program, a provision of the Coronavirus Aid, Relief and Economic Security (CARES) Act.  The Paycheck Protection Program went into effect on April 3.  Crapo has been working closely with the U.S. Department of Treasury and the Small Business Administration (SBA), urging them to provide additional clarity to banks, credit unions and non-bank lender… Continue Reading


March 28, 2020

Crapo Urges Treasury, Fed to Provide Quick Guidance on Title IV of CARES Act

WASHINGTON, D.C. - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, urged the U.S. Department of Treasury and the Federal Reserve to act quickly to provide guidance on Title IV of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law on March 27, 2020.  As Banking Committee Chairman, Crapo led negotiations on the provisions in Title IV and helped guide the CARES Act through the Senate, and wants to ensure quick, orderly… Continue Reading


March 27, 2020

CARES Act, Title IV Summary (Prepared by Majority Staff)

Prepared by Majority Staff: Title IV of the CARES Act provides $500 billion in emergency relief in order to provide liquidity to eligible businesses, States, municipalities and Tribes related to losses incurred as a result of coronavirus. The Secretary of the Treasury is authorized to make the loans, loan guarantees and other investments in support of eligible businesses, State, municipalities and Tribes.This assistance can be made as follows, up to:$25 billion in loans or loan guarantees for pa… Continue Reading


March 25, 2020

Crapo Leads Economic Response in Coronavirus Phase III Legislation

WASHINGTON, D.C. - U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee on Banking, today unveiled legislation to stabilize the U.S. economy and provide assistance to severely distressed industries, Title IV of the bipartisan Coronavirus Aid, Relief, and Economic Security (CARES) Act. As Banking Committee Chairman, Senator Crapo worked tirelessly on the Senate task force charged with addressing small business and market liquidity issues, and led negotiations on a provision d… Continue Reading


March 10, 2020

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 a hearing entitled “The Consumer Financial Protection Bureau’s Semiannual Report to Congress.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today, we will receive testimony from Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger on the CFPB’s semiannual report. “On February 03, the CFPB issued it… Continue Reading


March 5, 2020

Crapo Statement at Hearing on Threats Posed by State-Owned Enterprises to Public Transportation

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 “Threats Posed by State-Owned and State-Supported Enterprises to Public Transportation.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today’s hearing will focus on the threats posed by state-owned and state-supported enterprises on public transportation. “Last year, Ranking Member Brown and I … Continue Reading


February 25, 2020

Crapo Statement at Transit 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 “Surface Transportation Reauthorization: Public Transportation Stakeholders’ Perspectives.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today’s hearing will focus on the reauthorization of the FAST Act, the nation’s current surface transportation bill, which expires on September 30.“We will h… Continue Reading


February 13, 2020

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 for nominees to the Federal Reserve Board of Governors. The text of Chairman Crapo’s remarks, as prepared, is below. “This morning, we will consider the nominations of the Honorable Judy Shelton to be a Member of the Board of Governors of the Federal Reserve System and Dr. Christopher Waller to be a Member of the Board … Continue Reading


February 12, 2020

Crapo Statement at Hearing on 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.  “Today, Federal Reserve Chairman Jerome Powell will update the Committee on monetary policy developments and the state of the U.S. economy. “The U.S. economy continued to expand in 2019, exceedin… Continue Reading


December 18, 2019

Chairman Crapo Outlines Concerns with Cannabis Banking Legislation

WASHINGTON - Senate Banking Committee Chairman Mike Crapo (R-Idaho) is inviting public feedback on ways to address public health and money laundering concerns with cannabis banking. Input is also requested on “Operation Choke Point,” an Obama-era initiative in which federal agencies devised and relied upon a list of politically disfavored merchant categories (e.g., firearm manufacturers, payday lenders, etc.) with the intent of “choking off” these merchants’ access to payment systems and… Continue Reading


December 10, 2019

Crapo Statement at SEC 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 “Oversight of the Securities and Exchange Commission.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today we will receive testimony from Securities and Exchange Commission Chairman Jay Clayton regarding the work and agenda of the SEC. “I thank you for your willingness to appear before the Com… Continue Reading


December 5, 2019

Crapo Statement at Hearing with Prudential 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 Financial Regulators.” The text of Chairman Crapo’s remarks, as prepared, is below. “Today we will receive testimony from: the Honorable Randal Quarles, Federal Reserve Vice Chairman for Supervision; the Honorable Jelena McWilliams, Chairman of the FDIC; and the Honorable Rodney Hood, Chairman of t… Continue Reading

Showing page   of 21