Dodd-Frank

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CT financial industry that backed Romney shunning Trump

WASHINGTON — Mitt Romney raised more than $1.5 million from people connected to Connecticut’s financial services industry, but few of those deep-pocketed donors are giving to Donald Trump. An analysis by the Connecticut Mirror shows that, as of the end of July, Trump had only raised about $11,000 from that sector. Continue Reading →

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Himes officially replaced as DCCC finance chairman

WASHINGTON – Newly appointed Democratic Congressional Campaign Chairman Ben Ray Luján officially announced his picks to be his top lieutenants Wednesday, turning to a long-time ally of Minority Leader Nancy Pelosi to succeed Connecticut U.S. Rep. Jim Himes as the group’s finance chairman. Continue Reading →

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Himes splits with delegation on Wall Street bill; Esty reverses

Rep. Jim Himes

WASHINGTON – Rep. Jim Himes split with the rest of Connecticut’s House delegation on Wednesday by voting for a bill opponents say would weaken the Dodd-Frank financial reform bill. Most Democrats opposed the bill, even some like Rep. Elizabeth Esty, D-5th District, who voted for similar legislation as recently as last week. Continue Reading →

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Blumenthal, Murphy split on budget bill that averts shutdown

Washington – Democratic Sens. Richard Blumenthal and Chris Murphy split over a massive omnibus spending bill the Senate approved late Saturday little more than an hour before the government would have shut down due to a lack of funding. Murphy voted for the$1.1 trillion bill, Blumenthal did not.
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Himes has tough win on Wall Street provision in spending bill

WASHINGTON – For Rep. Jim Himes, House approval late Thursday of legislation that would allow banks to trade derivatives — a measure he’s been promoting for years — is a bittersweet victory. “I’m not happy that it became a super-hot button issue when it always received bipartisan support,” Himes said. Continue Reading →

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Leonardi cool on federal regulation of insurance industry

Connecticut’s insurance commissioner told members of Congress Tuesday he has serious reservations about extending federal oversight of the insurance industry. Thomas Leonardi, commissioner of Connecticut’s Insurance Department, was invited by a Republican member of the House Financial Services Committee to weigh in on new federal  oversight of the insurance industry, which is largely regulated by the states. At issue is the new Federal Insurance Office that was created by the Dodd-Frank financial reform bill and tasked to report on weaknesses in the insurance industry. Leonardi, invited to testify at a Finance Committee hearing on insurance by Rep. Randy Neugebauer, R-Texas, said several  FIO recommendations “give me serious pause.”

Leonardi said he’s opposed to allowing the FIO  to participate in meetings between state regulators and insurers that involve “confidential, company-specific information.”

Leonardi also said he’s opposed to federal regulation of the troubled mortgage insurance industry. “State regulators have the most experience and expertise to effectively regulate these insurers,” he said. Continue Reading →

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