Vitter: In HSBC Case, AG Lynch Shows Administration Picks Winners and Losers
(Washington, D.C.) - Today, U.S. Sen. David Vitter (R-La.), a member of the Senate Judiciary Committee and Senate Banking Committee, sent a letter to Attorney General Loretta Lynch regarding new revelations that senior leadership at the Department of Justice had “overruled” an internal recommendation to prosecute megabank HSBC in 2012 over serious money-laundering allegations.
Read MoreVitter: Chairman Yellen Admits The Fed Would Not Bail Out Puerto Rico
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Vitter: Iran Continues to Take Advantage of Obama Administration’s Lack of Enforcement
(Washington, D.C.) - U.S. Senator David Vitter (R-La.) issued the following statement regarding a multi-billion dollar agreement between a U.S. business and Iran, which is a U.S. State Department-designated State Sponsor of Terrorism.
Read MoreVitter: CFPB 'Payday Rule' Issued Hastily Ahead of Upcoming GAO Report on Accountability
(Metairie, La.) - U.S. Senator David Vitter (R-La.), Chairman of the Senate Committee on Small Business and Entrepreneurship (SBC), today strongly criticized newly published proposed rules from the Consumer Financial Protection Bureau (CFPB) regulating certain types of payday lending markets and small-dollar loans.
Read MoreVitter Statement on Stanford Ponzi Scheme & SIPC Oversight Hearing
(Washington, D.C.) - I can tell you, not enough attention is paid in Congress to SIPC, and Wall Street has noticed. They run SIPC their way, and investors need to be wary. Congress owes it to investors to act. We need to decide if we are going to restore SIPC to what Congress intended in the 1970s, otherwise we need to abolish it.
Read MoreVitter, Warren Introduce Bailout Prevention Act
(Washington, D.C.) - U.S. Senators David Vitter (R-La.) and Elizabeth Warren (D-Mass.), members of the Senate Banking Committee, today introduced the Bailout Prevention Act, legislation to halt megabank bailouts during a financial crisis by responsibly limiting the Federal Reserve’s lending authority. It would also close a loophole that creates risk-taking exemptions for megabanks Goldman Sachs and Morgan Stanley.
Read MoreVitter, Warren Introduce Fed Accountability Act
(Washington, D.C.) - U.S. Senators David Vitter (R-La.) and Elizabeth Warren (D-Mass.), members of the Senate Banking Committee, today introduced the Fed Accountability Act, legislation to improve the Federal Reserve’s decision-making process by increasing independence of individual Governors and bringing transparency to votes on enforcement actions over $1 million. The two Senators are also working on legislation to further halt megabank bailouts during a crisis. Vitter has long championed reforms to end the too big to fail mentality and eliminate bailouts for the megabanks.
Read MoreVitter Pushes Higher Capital Requirements at Senate Banking Committee Hearing
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Vitter: Lynch’s Record on Amnesty, Money Laundering Shows She’s Unfit to be Attorney General
(Washington, D.C.) - U.S. Senator David Vitter (R-La.), a member of the Senate Judiciary Committee, will today vote against confirmation of Loretta Lynch to be the next Attorney General.
Read MoreVitter Pushes DOJ for Information on HSBC Drug Money Laundering, Tax Evasion
(Washington, D.C.) - U.S. Senator David Vitter (R-La.), member of the Senate Judiciary Committee, today sent a letter to Attorney General Eric Holder pushing for information regarding alleged tax evasion and money laundering by megabank HSBC in 2012. HSBC was charged with allowing a massive billion dollar money laundering scheme that involved Mexican drug cartels and international terrorist organizations, but was punished with a minor monetary penalty.
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