Tagged: senate banking committee

March 11, 2025 @ 10:09 am By JD Alois  |  

Debanking or blocking individuals and firms from the banking system was a nefarious activity pursued by the Biden administration. It has been widely reported that too frequently, businesses and individuals who were associated with crypto activity, or out-of-favor individuals, were debanked – their bank told… Read More

February 11, 2025 @ 3:53 pm By JD Alois  |  

The Chairman of the US Federal Reserve, Jerome Powell, was testifying before the Senate Banking Committee today. While typically targeting the Fed’s dual mandate of pursuing full employment and low inflation, the hearing provides an opportunity for the Members to query the Chair on other… Read More

February 5, 2025 @ 10:08 am By JD Alois  |  

In advance of the Senate Banking Committee hearing on the nefarious debanking movement by the federal government, Anchorage Digital, a federally chartered digital bank, has shared its experience in prepared testimony. Today, Anchorage founder and CEO Nathan McCauley will testify how Anchorage became persona non-grata… Read More

January 29, 2025 @ 12:46 pm By JD Alois  |  

The Senate Banking Committee has posted its list of witnesses for next week’s hearing on the Debanking that took place during the Biden Administration. The following individuals will be sharing their experiences in regard to losing access to the banking system: Nathan McCauley, CEO &… Read More

January 27, 2025 @ 5:41 pm By JD Alois  |  

There have been many reports of “Debanking” taking place during the Biden Administration. At times, these reports focused on crypto-related firms that saw their accounts closed by banks – typically with little notice. There have also been reports of Debanking taking place for political reasons…. Read More

January 23, 2025 @ 12:49 pm By JD Alois  |  

The shift from Democrat control to Republican control will have a dramatic impact on innovation in financial services. While the Democrat party has been firmly anti-Fintech innovation, Republicans have embraced tech improvements in financial services, and today is emblematic of the change as the Senate… Read More

January 13, 2025 @ 11:52 am By JD Alois  |  

Senator Tim Scott, the new Chairman of the Senate Banking Committee, has issued a statement on Paul Atkins, the individual selected by President-elect Trump to lead the Securities and Exchange Commission. Atkins, if approved by the Senate, will replace the unpopular SEC Chair Gary Gensler…. Read More

January 11, 2025 @ 11:07 am By Michael Wong  |  

The US Senate Banking Committee is reported set to establish its inaugural subcommittee focused on digital assets, marking a significant move just days after Republicans assumed control of the Senate following recent elections. According to reports, this initiative aligns with President-elect Donald Trump’s vision of… Read More

April 10, 2024 @ 8:44 am By JD Alois  |  

Yesterday, Deputy Secretary of the Treasury Wally Adeyemo testified before the Senate Banking Committee. In prepared testimony, Adeyemo called out digital assets—or crypto—and stated that bad actors are using these assets for nefarious activities. Adeymo said: “As we take steps to cut terrorist groups and… Read More

March 8, 2024 @ 4:47 pm By JD Alois  |  

Yesterday, testifying in front of the Senate Banking Committee, Jerome Powell, Chair of the US Federal Reserve, was asked several questions about a digital dollar or Central Bank Digital Currency (CBDC). Powell first pointed to the fact that most transactions are digital today as consumers… Read More

December 8, 2023 @ 9:55 am By JD Alois  |  

This week, the Chief Executives of the largest banks in the United States visited with the US Senate Banking Committee for the Annual Oversight of Wall Street Firms. Much of the discussion revolved around the “Basel 3 End Game” (B3E) a new set of banking… Read More

May 16, 2023 @ 11:12 am By JD Alois  |  

Today the Senate Banking Committee is holding a hearing on the failure of several banks that helped to drive fear and concern within the entire banking system. The hearing includes the testimony of Gregory Becker, former CEO of Silicon Valley Bank; Scott A. Shay, former… Read More

March 28, 2023 @ 9:09 am By JD Alois  |  

Today, the US Senate Banking Committee will meet to discuss the recent calamitous events in the banking sector. Multiple banks have experienced bank runs, and several have been taken over as these firms fell prey to poor management in regard to interest rate risk, and… Read More

February 16, 2023 @ 10:07 am By JD Alois  |  

This past week, the Senate Banking Committee held a hearing to discuss the topic of digital assets.  As should be abundantly clear by now, support, or lack of support, is now largely falling along party lines. Both sides desire consumer protection and understand the need… Read More

December 14, 2022 @ 11:35 am By JD Alois  |  

The Senate Banking Committee hearing on FTX, taking place today, has extended the discourse on the collapse of what was once one of the largest crypto exchanges in operation. While not involving any current FTX employees, testimony and perspective are being provided by four different… Read More

December 11, 2022 @ 4:25 pm By JD Alois  |  

Last Friday, the Senate Banking Committee issued a statement as to whether or not, Sam Bankman-Fried will attend a Hearing on the FTX disaster and ensuing bankruptcy filing. The hearing is scheduled for next week on December 14, a day after the House Committee on… Read More

November 22, 2022 @ 9:05 am By JD Alois  |  

Democrat members of the Senate Banking Committee have sent a letter to SoFi (NASDAQ:SOFI) inquiring about its activities in regard to digital asset trading. At the same time, the Senators have forwarded a letter to three bank regulators, the Office of the Comptroller of the… Read More

July 17, 2022 @ 3:00 pm By JD Alois  |  

The Association of Online Investment Platforms (AOIP) has forwarded a letter to members of Congress in support of the JOBS Act 4.0 legislation. In the spring of 2022, Republicans on the Senate Banking Committee submitted draft legislation on the 10th Anniversary of the JOBS Act… Read More

June 21, 2022 @ 4:59 pm By JD Alois  |  

Republican members on the US Senate Banking Committee have requested more information from the Securities and Exchange Commission (SEC) regarding the Commission’s proposal to require reporting companies to disclose their climate impact. In a letter addressed to SEC Chairman Gary Gensler, signed by the 12… Read More

April 6, 2022 @ 5:48 pm By JD Alois  |  

The Republicans on the Senate Banking Committee have submitted draft legislation on the 10th Anniversary of the JOBS Act, called JOBS Act 4.0. The JOBS Act of 2012 was the law that created online capital formation or investment crowdfunding. Three exemptions were legalized that enabled… Read More