Michael D Crapo

Campus Notebook: Idahoans in Africa highlight congressional travel
The latest travelogue and interesting disclosures

Idaho Sens. Mike Crapo, left, and James Risch  traveled to a well-known national park in Mozambique. (CQ Roll Call file photo)

This week’s Campus Notebook highlights senators who recently jetted off to Mozambique, Israel and France and a staffer who sold a bunch of stocks, including from the tech industry. 

Idahoans in Africa: Sen. Mike Crapo and his wife Susan joined Sen. Jim Risch and his wife Vicki for a trip to Johannesburg, South Africa and Mozambique. Crapo and his wife’s trip, paid for by the International Conservation Caucus Foundation, cost $14,113. Risch and his wife’s trip, paid for by the same group, cost $13,758.

House may join money laundering, disclosure bills to gain votes
The two bills are expected to be merged and then will head to the House floor soon after Congress returns from recess

Carolyn Maloney, D-N.Y., attends a House Financial Services Committee hearing in the Rayburn House Office Building on July 17, 2019. Maloney is co-sponsor of one of two anti-money laundering bills that are expected to be merged soon after Congress returns. (Tom Williams/CQ Roll Call)

A pair of anti-money laundering bills are expected to be merged and head to the House floor soon after Congress returns from recess.

The House Financial Services Committee voted 55-0 in May to advance one of the bills, a measure co-sponsored by Democrat Emanuel Cleaver II of Missouri and Republican Steve Stivers of Ohio, that would update the framework used by federal investigators to combat money laundering.

The GOP is confirming Trump judicial nominees it stalled under Obama
Judges couldn’t get a vote when Obama was president. They’re getting on the bench under Trump

From left, Senate Majority Leader Mitch McConnell of Kentucky, Supreme Court Nominee Judge Neil Gorsuch, Vice President Mike Pence, and former Sen. Kelly Ayotte (R-N.H.) in 2017. Gorsuch was confirmed after McConnell had blocked President Barack Obama’s pick, Merrick Garland. (Al Drago/Pool/The New York Times)

At least 10 judicial nominees who couldn’t even get a confirmation vote in the final years of President Barack Obama’s administration ended up on the bench after Donald Trump’s election.  

Those nominees, blocked by Senate Majority leader Mitch McConnell and other Republicans while Obama was in the White House, got a second chance. Rather than blocking them under Trump, McConnell sought to speed up the confirmation process. Thanks to the shift in political priorities, Republicans confirmed them with bipartisan support.

Elizabeth Warren probes Capital One after massive data breach
The Senator requested information on how the breach was conducted and when the bank plans to notify customers whose data was taken

In a letter sent to Capital One CEO Richard Fairbank, Elizabeth Warren, D-Mass., requesting information on how a security breach was conducted and when the bank plans to notify customers whose data — including possibly their Social Security numbers — was taken in the breach. (Bill Clark/CQ Roll Call file photo)

Sen. Elizabeth Warren is putting pressure on Capital One to answer questions about the recent data breach that affected more than 100 million of the bank’s customers.

In a letter on Wednesday to Richard Fairbank, Capital One’s chief executive, the Massachusetts Democrat and 2020 presidential candidate requested information on how the breach was conducted and when the bank plans to notify customers whose data — including possibly their Social Security numbers — was taken in the breach.

Senate Banking members take skeptical look at cryptocurrencies
Blockchain firms have tried selling lawmakers on the potential for dramatically reduced transaction costs.

Senate Banking Chairman Mike Crapo, R-Idaho, sees data privacy as one of the primary risks. (Bill Clark/CQ Roll Call file photo)

Concerns over data privacy and skepticism about just how unique and beneficial cryptocurrencies and other blockchain-based digital assets could be dominated Tuesday’s Senate Banking Committee hearing on regulating the new technology.

“This new digital currency and blockchain technology is a very real — and potentially helpful — innovation,” said Chairman Michael D. Crapo, R-Idaho. “It’s also potentially harmful as there can be some serious risk involved in it.”

Capital One hack gets attention of Senate panel, New York AG
The breach affects at least 100 million Americans and 6 million Canadians, according to the company

Senate Banking Chairman Mike Crapo said he and Letitia James, New York state Attorney General, will probe the Capital One data breach that the company reported late Monday. (Caroline Brehman/CQ Roll Call)

Senate Banking Chairman Michael D. Crapo and New York state Attorney General Letitia James said they will probe the data breach suffered by credit card issuer Capital One, which the company reported late Monday.

“I have concerns about all aspects of this,” Crapo said about the Capital One breach during a Tuesday morning hearing on cryptocurrencies. “We want to understand how this happened, how other breaches happened ... and we want to know how vulnerabilities [appear] in systems and figure out what we must do to deal with them at a policy level. I don’t have answers yet, but yes, we need to figure that out and we do have concerns about those vulnerabilities.”

Facebook incurs wrath from both parties at Libra currency hearing
Bipartisan group asks why Americans should trust Facebook with their paychecks given its repeated data privacy scandals

David Marcus, head of Facebook's Calibra digital wallet service, prepares to testify during the Senate Banking, Housing and Urban Affairs Committee hearing on "Examining Facebook's Proposed Digital Currency and Data Privacy Considerations" on Tuesday, July 16, 2019. (Bill Clark/CQ Roll Call)

Senators from both parties questioned at a hearing Tuesday why Americans should trust Facebook’s new digital currency system with their paychecks given the social media giant’s repeated data privacy scandals.

Libra, a cryptocurrency under construction by a Facebook subsidiary called Calibra, was announced in May to a blast of bipartisan incredulity by lawmakers and the Trump administration. Critics asked how the company could ensure that Libra, which is designed to be anonymous, could be prevented from being used by money launderers, traffickers or terrorists.

Facebook cryptocurrency stirs worry and support in both parties
Top Democrat urges Fed and regulators to protect consumers and economy from Facebook’s ‘monopoly money’

Federal Reserve Chairman Jerome Powell, right, was peppered with questions about how the Fed would deal with Libra, Facebook’s new cryptocurrency. (Caroline Brehman/CQ Roll Call)

Facebook Inc. got a preview Wednesday of what to expect next week when executives come to testify about plans to launch Libra, a digital currency and online payment system.

At a hearing Wednesday morning, Democrats and Republicans on the House Financial Services Committee peppered Federal Reserve Chairman Jerome Powell with questions about how the central bank would respond to Libra.

FHFA head sees plan this year to change Fannie, Freddie status
Mark Calabria also wants Congress to act

Mortgage giants Fannie Mae and Freddie Mac have been under federal control since they accepted bailouts in 2008 during the housing market collapse. (Douglas Graham/CQ Roll Call file photo)

Federal Housing Finance Agency Director Mark Calabria said he hopes to have a roadmap for ending the federal conservatorship of Fannie Mae and Freddie Mac by the end of the year.

Speaking at a National Association of Realtors event Tuesday, Calabria said it was his job as FHFA director to develop a plan for recapitalizing and releasing the government-sponsored entities, or GSEs. The two mortgage giants have been under federal control since they accepted bailouts in 2008 in the wake of the housing market collapse.

Conservatives back proposed gray wolf delisting as green groups howl
The U.S. Fish and Wildlife Service said gray wolf populations recovered significantly after nearly disappearing

Crystal, a female gray wolf, roams the new wold enclosure during a sneak peak of the new American Trail at the Smithsonian National Zoo August 29, 2012 in Washington, D.C. (Allison Shelley/Getty Images)

The Department of Interior moved on Thursday to remove gray wolves from federal protection, pleasing congressional Republicans and rankling environmental organizations that plan to fight the decision in court.

“Glad to see it,” Montana Sen. Steve Daines who like many western Republicans supports less federal control over at-risk species, told CQ. “Any time we can move a species off the endangered species list should be a victory.”