WALL STREET REFORM AND CONSUMER PROTECTION ACT

Amendments

Financial Stability Oversight Council: strengthen review authority of regulations issued by Consumer Financial Protection Bureau (H.R. 1315), H5328, H5329, H5330, H5333, H5334, H5335, H5336, H5337, H5338, H5340, H5341 [21JY]

Articles and editorials

Card Game—How Visa, Using Card Fees, Dominates a Market, S1569 [10MR]

Good Intentions Gone Haywire, E1043 [3JN]

House Republicans Huddle With Lobbyists To Kill Financial Reform Bill, H4159 [14JN]

Industry Looks To Derail Dodd-Frank Enforcement, H4159 [14JN]

Never Mind the Lobbyists, Durbin Amendment Helps Small Banks, S1571 [10MR]

Bills and resolutions

Business and industry: repeal disclosure requirements that allow for comparison of executive compensation to that of other employees (see H.R. 1062), H1796 [14MR]

CFTC: impose position limits and margin requirements to eliminate excessive oil speculation and ensure that price of crude oil and derivative fuels reflects fundamentals of supply and demand (see S. 1200), S3812 [15JN] (see H.R. 2328), H4527 [23JN]

Commodity Exchange Act: clarify definition of swap dealer (see H.R. 3527), H7998 [30NO]

Consumers: delay implementation of proposed or final rules relative to reasonable and proportional fees and rules for electronic debit transactions (see H.R. 1081), H1841 [15MR]

Dept. of the Treasury: repeal the Office of Financial Research (see H.R. 3044), H6455 [23SE]

Financial institutions: adjust date on which consolidated assets are determined for purposes of exempting certain instruments of smaller institutions from capital deductions (see H.R. 3128), H6671 [6OC]

———exclude small lenders from certain Wall Street Reform and Consumer Protection Act regulations (see H.R. 3336), H7329 [3NO]

———repeal certain debit card interchange price controls and restore balance to the electronic payments system (see H.R. 3156), H6853 [12OC]

———study the market and appropriate regulatory structure for electronic debit card transactions (see S. 575), S1676 [15MR]

Financial Stability Oversight Council: strengthen review authority of regulations issued by Consumer Financial Protection Bureau (see H.R. 1315), H2265 [1AP]

———strengthen review authority of regulations issued by Consumer Financial Protection Bureau (H.R. 1315), consideration (see H. Res. 358), H5284 [20JY]

FRS: postpone date for transfer of functions to the Consumer Financial Protection Bureau if the Bureau does not have a Director in place (see H.R. 1667), H2933 [2MY]

———repeal authority of the Consumer Financial Protection Bureau to prohibit certain acts or practices (see H.R. 2612), H5373 [21JY]

Insurance: prohibit financial regulators from collecting data directly from an insurance company (see H.R. 3559), H8135 [5DE]

Repeal (see S. 712), S2046 [31MR] (see S. 746), S2187 [6AP] (see H.R. 87), H35 [5JA]

SEC: clarify provisions relative to regulation of municipal advisors (see H.R. 2827), H5928 [26AU]

———limit liability of Nationally Recognized Statistical Rating Organizations by reinstating rule relative to inclusion of security ratings in registration statements (see H.R. 1539), H2854 [14AP]

Securities: implement regulations governing over-the-counter swaps, promote regulatory coordination, and avoid market disruption (see H.R. 1573), H2909 [15AP]

———provide an exemption for certain swaps and security-based swaps involving non-U.S. persons (see H.R. 3283), H7165 [31OC]

———refine definition of swap execution facility for purposes of swap market regulation (see H.R. 2586), H5238 [19JY]

———repeal prohibition on any Federal bailout of swap dealers or participants (see H.R. 1838), H3218 [11MY]

———set implementation schedule for derivatives and over-the-counter swaps regulations, evaluate economic implications of such regulations, and establish SEC Office of Derivatives (see S. 1650), S6090 [4OC]

Whistleblowing: modify certain SEC and CFTC whistleblower incentive and protection programs (see H.R. 2483), H4850 [11JY]

Letters

CFTC ability to implement certain rules without substantiation, protect end users from margin requirements, and set boundaries on overseas application of derivative requirements: Senator Tim Johnson and Representative Frank, H7773 [17NO]

CFTC implementation of regulations limiting amount of outside speculator participation in the energy futures trading markets: Bart Chilton, CFTC, H2587 [12AP]

———Joseph H. Petrowski, Cumberland Gulf Group of Companies, E1395 [25JY]

Debit Interchange Fee Study Act: several gasoline retail organizations, S2902 [12MY]

Promulgate regulations regarding debit and credit card interchange transaction fees: Americans for Financial Reform (organization), S2023 [31MR]

———Anthony Evans, National Black Church Initiative (organization), S2184 [6AP]

———Brian E. Cartier, National Association of College Stores, S2025 [31MR]

———Gus K. West, Hispanic Institute, S2023 [31MR]

———Jesse L. Jackson, Sr., Rainbow PUSH Coalition, S2183 [6AP]

———Joseph T. Hansen, United Food and Commercial Workers International Union (UFCW), S2024 [31MR]

———Main Street Alliance, S2184 [6AP]

———Merchants Payments Coalition, S2717 [5MY]

———Molly Corbett Broad, American Council on Education, S2023 [31MR]

———Senator Durbin, S2718 [5MY]

———several national and State trade associations, S2024 [31MR]

———Steven C. Anderson, National Association of Chain Drug Stores and Kathleen D. Jaeger, National Community Pharmacists Association, S2025 [31MR]

———Travis Plunkett, Consumer Federation of America, S2023 [31MR]

———U.S. Public Interest Research Group and Public Citizen (organization), S2023 [31MR]

Study the market and appropriate regulatory structure for electronic debit card transactions: Molly Corbett Broad, American Council on Education, S3574 [8JN]

———Public Citizen (organization) and U.S. Public Interest Research Group, S3574 [8JN]

———Tom Gordy, Armed Forces Marketing Council, S3574 [8JN]

Motions

Financial Stability Oversight Council: strengthen review authority of regulations issued by Consumer Financial Protection Bureau (H.R. 1315), H5345 [21JY]

Press releases

Bills Introduced To Delay Swipe Fee Reform: National Small Business Association, S2024 [31MR]

Remarks in House

CFTC: implementation of regulations limiting amount of outside speculator participation in the energy futures trading markets, H2587 [12AP], H3422 [25MY], E1395 [25JY]

———require finalization of swap data-reporting rules before promulgating final block trade or real-time reporting criteria rules, H4270, H4271 [15JN]

Financial institutions: implement requirements, H8957 [14DE]

———repeal requirement that data repositories obtain indemnification from foreign regulators prior to sharing of certain information, E764 [15AP]

Financial Stability Oversight Council: allow non-voting members to challenge Consumer Financial Protection Bureau rules, H5334 [21JY]

———prohibit from overriding Consumer Financial Protection Bureau rules, H5329, H5330 [21JY]

———prohibit members from voting on Consumer Financial Protection Bureau rules if that rule would affect an institution where that member had recently been employed, H5333 [21JY]

———provide live online streaming or broadcasting of meetings pertaining to review of Consumer Financial Protection Bureau regulations, H5337, H5338 [21JY]

———require a Consumer Financial Protection Bureau analysis of impact of regulations on the financial industry and on consumers' and small business credit access, H5341, H5342 [21JY]

———require a supermajority to override Consumer Financial Protection Bureau rules, H5330-H5333 [21JY]

———require any agency filing a challenge to Consumer Financial Protection Bureau rules to provide certain disclosures, H5335, H5336 [21JY]

———restore time limits on review of regulations issued by the Consumer Financial Protection Bureau, H5336, H5337 [21JY]

———strengthen review authority of regulations issued by Consumer Financial Protection Bureau, H8014 [1DE]

———strengthen review authority of regulations issued by Consumer Financial Protection Bureau (H.R. 1315), H5301, H5317-H5348 [21JY], E1387 [22JY], E1402 [25JY]

———strengthen review authority of regulations issued by Consumer Financial Protection Bureau (H.R. 1315), consideration (H. Res. 358), H5302-H5312 [21JY]

———strengthen review authority of regulations issued by Consumer Financial Protection Bureau (H.R. 1315), corrections in engrossment, H5348 [21JY]

———strengthen review authority of regulations issued by Consumer Financial Protection Bureau (H.R. 1315), motion to recommit, H5346 [21JY]

FRS: grant Consumer Financial Protection Bureau additional oversight of lending practices, H5338 [21JY]

———postpone date for transfer of functions to the Consumer Financial Protection Bureau if the Bureau does not have a Director in place, H5304, H5318, H5319, H5325-H5327 [21JY]

———require an Inspector General report on new Consumer Financial Protection Bureau guidelines, regulations, rules, agency overlaps, expenses, and unmitigated balances, H5340 [21JY]

———transfer Consumer Financial Protection Bureau authority to the Dept. of the Treasury if no Commission chair is in place, H5339 [21JY]

Repeal, H3927 [2JN], H8200 [7DE]

Remarks in Senate

CFTC: impose position limits and margin requirements to eliminate excessive oil speculation and ensure that price of crude oil and derivative fuels reflects fundamentals of supply and demand (S. 1200), S3821 [15JN]

———limit ability to implement certain rules without substantiation, protect end users from margin requirements, and set boundaries on overseas application of derivative requirements, S6934-S6936 [1NO]

Credit: promulgate regulations regarding debit and credit card interchange transaction fees, S1568-S1572 [10MR], S1747-S1749 [16MR], S1778-S1780 [17MR], S2020-S2026, S2029 [31MR], S2146-S2148, S2183 [6AP], S2218 [7AP], S2471 [14AP], S2715-S2720 [5MY], S3041-S3044 [17MY], S3509 [6JN], S3515-S3518, S3528-S3535 [7JN], S3571-S3575, S3579-S3594, S3600 [8JN], S3665 [9JN], S6018 [3OC], S6061 [4OC], S6903 [31OC], S6988 [1NO]

CTFC: limit ability to implement certain rules without substantiation, protect end users from margin requirements, and set boundaries on overseas application of derivative requirements, S6731, S6750 [19OC]

Economy: analysis of causes and potential remedies of current economic recession, S4797 [21JY]

Financial institutions: study the market and appropriate regulatory structure for electronic debit card transactions, S3515-S3518, S3522, S3528-S3535 [7JN], S3571-S3575, S3579-S3594, S3600 [8JN], S3665 [9JN], S6018 [3OC], S6061 [4OC], S6988 [1NO]

———study the market and appropriate regulatory structure for electronic debit card transactions (S. 575), S2029 [31MR], S2471 [14AP], S2902 [12MY], S3093 [18MY]

Impact, S4629 [18JY], S4783, S4797 [21JY]

Repeal, S6298, S6300 [6OC], S6792 [20OC], S7175 [8NO], S7274 [9NO]

Securities: prohibit proprietary trading and certain relationships with hedge funds and private equity funds and address conflicts of interest with respect to certain securitizations, S4797 [21JY]

Reports

Consumer Financial Protection Bureau Identified and Documented Mission-Critical Activities and Legislative Mandates: Dept. of the Treasury and FRS, H5585 [27JY]

Reports filed

Asset-Backed Market Stabilization Act: Committee on Financial Services (House) (H.R. 1539) (H. Rept. 112-196), H5904 [12AU]

Burdensome Data Collection Relief Act: Committee on Financial Services (House) (H.R. 1062) (H. Rept. 112-142), H4944 [12JY]

Bureau of Consumer Financial Protection Transfer Clarification Act: Committee on Financial Services (House) (H.R. 1667) (H. Rept. 112-93), H3762 [27MY], H5238 [19JY]

Consideration of H.R. 1315, Consumer Financial Protection Safety and Soundness Improvement Act: Committee on Rules (House) (H. Res. 358) (H. Rept. 112-172), H5284 [20JY]

Consumer Financial Protection Safety and Soundness Improvement Act: Committee on Financial Services (House) (H.R. 1315) (H. Rept. 112-89), H3644, H3682 [25MY], H5238 [19JY]

Implement Regulations Governing Over-the-Counter Swaps, Promote Regulatory Coordination, and Avoid Market Disruption Relative to Securities: Committee on Agriculture (House) (H.R. 1573) (H. Rept. 112-109), H4325 [16JN]

———Committee on Financial Services (House) (H.R. 1573) (H. Rept. 112-109), H4325 [16JN]

Swap Execution Facility Clarification Act: Committee on Financial Services (House) (H.R. 2586) (H. Rept. 112-345), H10026 [23DE]

Statements

Consumer Financial Protection Agency Act Markup (2009): Committee on Financial Services (House) Republican members, H5307 [21JY]

Promulgate Regulations Regarding Debit and Credit Card Interchange Transaction Fees: Consumer Federation of America, S2184 [6AP]

Texts of

H. Res. 358, consideration of H.R. 1315, Consumer Financial Protection Safety and Soundness Improvement Act, H5302 [21JY]

H.R. 1315, Consumer Financial Protection Safety and Soundness Improvement Act, H5328 [21JY]