Mar 12 2018 06:53 PM
- The Senate will convene at 10:00 a.m.
- Following leader remarks, the Senate will resume consideration of S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act.
- The Senate will recess from 12:30 p.m. to 2:15 p.m. to accommodate the weekly policy lunches.
- Note: on Thursday, March 8, cloture was filed on S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act.
- Note: on Thursday, March 8, cloture was filed on Executive Calendar #598, Kevin K. McAleenan, of Hawaii, to be Commissioner of U.S. Customs and Border Protection.
Senator Brown: (6:22 p.m.)
- Spoke on Dodd-Frank relief.
- "So after the crisis, Congress responded with a law, the Wall Street reform act, to ensure that taxpayers would never again, Mr. President, have to send bailout money to British and Swiss megabanks. We ordered the fed to keep a closer eye on the big banks, to use their power to make sure the largest global banks did not again crash the economy. Congress instructed that the fed apply the strictest protections to the biggest banks, those with more than $50 billion in assets. We know that. When the fed implemented these rules, they applied some standards to banks that had more than $50 billion across the globe. But for global banks that have more than $50 billion in the U.S., the fed applied the strongest standards for foreign banks with not only trillions worldwide but systemic operations in the United States, the fed wrote rules that are strict as those for our domestic megabanks."