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Tag: Banking, Housing and Urban Affairs Committee

Daines Calls on Biden Administration to Abandon Anti-Small Business Basel III Endgame Proposal

January 17, 2024

Joins Republican Banking Committee Colleagues in Sending Letter to Biden Administration U.S. SENATE – U.S. Senator Steve Daines today joined every Republican on the Senate Banking Committee in continuing their call for financial regulators to withdraw the Basel III Endgame proposal that would raise bank capital requirements. As the public comment period for the proposed rule closed, the members sent a letter to the Federal Reserve (Fed), Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency highlighting the agencies’ continued failure to provide a thorough economic analysis justifying the proposal’s merits and to address concerns on the proposal’s

Daines’ SAFER Banking Act is Headed to the Floor

September 27, 2023

Bill Would Ensure Energy Companies and Firearm Manufacturers Have Access to Financial Institutions U.S. SENATE – U.S.Senator Steve Daines today issued the following statement after his bipartisan “SAFER Banking Act” passed the Banking Committee with bipartisan support. “The ‘SAFER Banking Act’ is a win-win for our Montana communities. On one hand, it’s about keeping our Montana communities safe, reducing the risk of crime and providing much-needed clarity for law enforcement officers. It’s also about protecting legal business’ access to financial institutions. Whether it’s a legal cannabis business, a legal gun manufacturer or a legal energy company, no Montana business should be shut out of banks or credit unions because of ideological

At Senate Banking Committee Hearing, Daines Accuses Regulators of Focusing on Climate Change Rather than Monetary Policy

March 28, 2023

Washington, D.C. – U.S. Senator Steve Daines at a Senate Banking Committee hearing today demanded answers from regulators on the cause of the banking crisis, including how the San Francisco Federal Reserve was focused on climate change policy rather than the Federal Reserve’s dual mandate of price stability and full employment. A transcript of Senator Daines’ opening remarks following by his questioning of Michael Barr, Vice Chairman for Supervision, Board of Governors of the Federal Reserve System, is below: Senator Daines: “Chairman, thank you. The failure of Silicon Valley Bank, Signature Bank and the general turmoil in the banking sector are the direct result of the failures

Daines Statement on Biden’s Calls for Increased Regulation of Banking Sector

March 17, 2023

U.S. Senate — U.S. Senator Steve Daines, member of the U.S. Senate Banking and Senate Finance Committees, today released the following statement in response to President Biden’s calls for increased regulation on the banking sector: “The Biden administration has a perfect record at never letting a crisis go to waste in order to pound the private sector with more burdensome regulations. Two things clearly accelerated SVB’s collapse: crushing inflation from Democrat spending and the same woke nonsense the Biden administration has been obsessing about for two years. What we don’t need is more onerous regulations on well-managed and sound Montana banks that didn’t

At Senate Leadership Press Conference Daines Bashes Biden’s Big Bank Bailout, Reckless Financial Policies

March 15, 2023

To watch Daines’ remarks, click HERE. U.S. SENATE –U.S. Senator Steve Daines today delivered the following remarks at the weekly Republican Senate Leadership press conference slamming the Biden administration for their big bank bailout and reckless financial policies that cost Montanans. “We’ve been watching President Biden in the Senate Democrats’ very reckless financial policies and we’re seeing crisis, after crisis, after crisis. And now, the chickens are coming home to roost. “Wasteful spending has led to the highest inflation rates we’ve seen in the United States in 40 years. And now, these bank bailouts are going to put Montana banks and Montana families on the

Daines Introduces Bipartisan Bill to Increase Public Safety, Support Montana Small Businesses

March 23, 2021

U.S. SENATE—U.S. Senator Steve Daines today introduced a bipartisan bill, the “Secure and Fair Enforcement (SAFE) Banking Act,” to ensure that legal cannabis businesses have access to banks, credit unions and other financial institutions. Today, many legal cannabis businesses must conduct all of their business entirely in cash. “Montana businesses shouldn’t have to operate in all cash—they should have a safe way to conduct business,” Daines said. “My bipartisan bill will provide needed certainty for legal Montana cannabis businesses and give them the ability to freely use banks, credit unions and other financial institutions without the fear of punishment. This in turn will help increase public safety, reduce crime, support Montana small businesses, create jobs and boost local