I’m an active member of the Senate Banking, Housing and Urban Affairs Committee, and I’m the Ranking Republican on the Housing, Transportation and Community Development subcommittee. I’m also a member of the Securities, Insurance and Investment subcommittee. My priorities within the Banking Committee include:
Monitoring the Dodd-Frank law and working aggressively to reign in this enormous overreach of government power.
Re-examining the regulatory structure of the financial services sector to ensure that the philosophy of ‘too big to fail’ and bailout mania both become relics of the past.
Reforming the mortgage finance market, including Fannie Mae, Freddie Mac, the Federal Home Loan Banks and the Federal Housing Administration.
As these reform efforts move forward, I’ll remain committed and focused on ensuring that the taxpayers are never again left footing the bill for bad judgments in the financial community
(Washington, D.C.) - U.S. Senator David Vitter (R-La.) today questioned Federal Reserve Chair Janet Yellen about whether the Federal Reserve Board of Governors would benefit from having a requirement that at least one of its members have community bank or community bank supervision experience.Read More
(Washington, D.C.) - U.S. Sen. David Vitter (R-La.) today sent a letter to Mel Watt, Director of the Federal Housing Finance Agency (FHFA), calling on FHFA to continue a suspension of contributions to two housing trust funds from Fannie Mae and Freddie Mac. Thirteen Senators joined Vitter on his letter.Read More
Brown, Vitter Urge Regulators to Implement Higher Leverage Ratios, Address ‘Too Big to Fail’ Policies
(Washington, D.C.) -U.S. Sens. Sherrod Brown (D-Ohio) and David Vitter (R-La.) are pressing federal regulators from the Federal Reserve System, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) to take immediate action to implement their Supplemental Leverage Ratio for banks with more than $750 billion in assets.Read More
(Washington, D.C.) - In today’s Senate Banking Committee hearing, U.S. Sen. David Vitter (R-La) questioned the Chairman and President of the Export-Import Bank of the United States (Ex-Im Bank), the Hon. Fred Hochberg, about varying standards and restrictions on coal exports depending on the wealth of the country.Read More
(Washington, D.C.) - U.S. Sen. David Vitter is pushing Sharon Bowen, the acting chairman of the Securities Investor Protection Corporation (SIPC) to revisit their decision not to compensate the Stanford Ponzi Scheme victims. Vitter is asking the SIPC Board of Directors to reconvene and take a new vote on compensating the victims.Read More
(WASHINGTON, D.C.) - U.S. Sens. Sherrod Brown (D-OH) and David Vitter (R-LA) today sent a letter urging the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) to strengthen their proposed supplementary leverage ratio in order to reduce future government support, eliminating the possibility of “too big to fail” policies. Their letter comes in response to the weakened leverage ratio announced by the Basel Committee on Banking Supervision this week.Read More
Brown, Vitter: Weakened Basel III Standards Hasten Need to Pass Bipartisan Bill Ending “Too Big To Fail”
U.S. Sens. Sherrod Brown (D-OH) and David Vitter (R-LA) today responded to the weakened leverage ratio announced yesterday by the Basel Committee on Banking Supervision. Brown and Vitter are the sponsors of the Terminating Bailouts for Taxpayer Fairness Act (TBTF Act), bipartisan legislation which would ensure that financial institutions have adequate capital to protect against losses.Read More
(Washington, D.C.) - The U.S. Senate Banking Committee is having a hearing today to assess the Government Accountability Office (GAO) report on the federal government’s bailout of large financial institutions during the 2007-2008 financial crisis.Read More