The U.S. Chamber of Commerce (the “Chamber”) writes to comment on the Securities and Exchange Commission (the “SEC” or “Commission") December 2023 Staff Report entitled “Review of the Accredited Investor’ Definition under the Dodd-Frank Act” (the “Report”).1 The Chamber is concerned with any changes to the accredited investor definition that ...

The undersigned chambers of commerce and businesses across the United States are concerned about the proposed rule known as the “Basel III Endgame” that would substantially increase capital requirements on covered U.S. banks and make capital and credit more expensive for businesses of all shapes and sizes.  Small and mid-size businesses, who are ...

The U.S. Chamber of Commerce (“Chamber”) Center for Capital Markets Competitiveness (“CCMC”) welcomes this opportunity to comment on the proposed guidance issued by the Commodity Futures Trading Commission (“CFTC”) regarding the listing of voluntary carbon credit (“VCC”) derivatives contracts (“Proposed Guidance”). The Chamber recognizes the ...

The U.S. Chamber of Commerce ("Chamber") appreciates the House Financial Services Subcommittee on Financial Institutions and Monetary Policy holding the hearing on January 31, 2024, entitled, “Rules Without Analysis: Federal Banking Proposals Under the Biden Administration.” We are concerned with the sparse economic analysis the federal banking ...

Artificial Intelligence (AI) is leading the way in technological advancement across the American economy. Many businesses, of all types, are already using AI1 to increase productivity and competitiveness. As with any new technological advance, it is important to recognize the benefits, identify any potential adverse consequences, and for regulators ...

We write to reiterate our request made via written correspondence to you on December 18, 2023, that the Consumer Financial Protection Bureau either rescind, or clarify in writing, ideally through notice and comment rulemaking, certain aspects of the Advisory Opinion (AO) released by the CFPB on October 11, 2023 “regarding section 1034(c) of the ...

Chairman Hill, Ranking Member Lynch, and Members of the House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion, thank you for this opportunity to testify today regarding the analytic framework and interpretive guidance for the designation of non-bank financial institutions recently adopted by the Financial ...

The U.S. Chamber of Commerce (“Chamber”) Center for Capital Markets Competitiveness submits these comments in response to the Board of Governors of the Federal Reserve System’s (“FRB”), the Federal Deposit Insurance Corporation’s, and the Office of the Comptroller of the Currency’s (“Agencies”) joint proposed rulemaking entitled Regulatory Capital ...

We, the undersigned U.S. trade associations, write to express our support for legislation to amend the Consumer Financial Protection Act of 2010 to clarify the authority of the Bureau of Consumer Financial Protection (CFPB) with respect to the business of insurance. Collectively, we represent a majority of the U.S companies and agents offering ...

The U.S. Chamber of Commerce’s (“the Chamber”) Center for Capital Markets Competitiveness (“CCMC”) appreciates the opportunity to submit comments to the Consumer Financial Protection Bureau (“CFPB”) regarding its proposed rule Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications (the “Rule”). The proposed ...

The Center for Capital Markets Competitiveness (“CCMC”) appreciates the opportunity to submit comments to the Consumer Financial Protection Bureau (“CFPB”) regarding its Notice of Proposed Rulemaking for the Required Rulemaking on Personal Financial Data Rights (the “Proposed Rule”). CCMC welcomes the CFPB’s work to implement section 1033 of the ...

The American Financial Services Association, Bank Policy Institute, the Consumer Bankers Association and the U.S. Chamber of Commerce write to raise concerns and request clarification about certain aspects of the Consumer Financial Protection Bureau’s (CFPB) recent Advisory Opinion (AO) released on October 11, 2023 “regarding section 1034(c) of the ...