Banking and Bailouts
More on Banking and Bailouts
Cummings Commends Administration for Issuing Strong Rule to Protect Against Financial Advisors with Conflicts of Interest
Washington, D.C. (Apr. 6, 2016)—Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, issued the following statement in response to the Department of Labor's release of its Conflicts of Interest Rule:
Cummings and Baldwin Introduce Legislation to
Expand Protections for Wall Street Whistleblowers
Washington, D.C. (Feb. 25, 2016)—Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, and Senator Tammy Baldwin (D-WI) introduced the Whistleblower Augmented Reward and Non-Retaliation Act of 2016 (WARN Act), which would expand protections for those who blow the whistle on financial crimes.
Washington, DC - Today, Senator Elizabeth Warren (D-Mass.) and Representative Elijah E. Cummings (D-Md.), Ranking Member of the House Committee on Oversight and Government Reform, sent a letter to the Department of Labor (DOL) and the Office of Management and Budget (OMB) highlighting the stark difference between the financial industry's optimistic statements to investors about the impact of the proposed Conflict of Interest Rule, and the same firms' claims of dire consequences in public statements by their Washington lobbyists and senior executives.
Cummings Criticizes CFTC for Failing to Impose Strong Regulations on Wall Street
Finalized Rule Continues Allowing Big Banks to
Fund Risky Bets With Taxpayer-Backed Dollars
Cummings Opposes Proposed SEC Rule to Allow Entities Other than the SEC to Grant Waivers
Washington, DC (Nov. 13, 2015 )—Today, Rep. Elijah E.
Warren and Cummings Investigation Finds That Repeal of Dodd-Frank Provision Now Allows Banks to Keep Nearly $10 Trillion in Risky Trades on Books
Democrats Urge SEC and CFTC to Impose Strong Rules to Protect Taxpayers and the Economy
They Ask GAO to Investigate Impact of Repeal After Regulators Failed to Analyze Risk
Washington, DC - Today, United States Senator Elizabeth Warren and Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, sent letters requesting information from federal financial regulators about risks posed to taxpayers after last year's partial repeal of Section 716 of the Dodd-Frank Act, which had been designed to prevent bailouts to banks and other financial entities with swaps holdings.