More than 20 Republican lawmakers in the House and Senate sent Gensler a letter last fall, calling on the SEC to withdraw the rule.
Ted Cruz (R-Texas) and Bill Hagerty (R-Tenn.).
The Senate bill currently lacks Democratic support, meaning it's unlikely to get much traction as long as Democrats control the Senate.
If the final SEC rule is issued after the beginning of November, and not before it, then the rule could fall in the window of CRA, come January 2025.
He also argued the precedent has been for the SEC to require firms to disclose potential areas of interest, not eliminate them completely.
Persons:
Ted Cruz, Sen, Bill Hagerty, WASHINGTON —, Gary Gensler, Gensler, Sens, Cruz, Ritchie Torres
Organizations:
Republican, Republicans, U.S, Capitol, Washington , D.C, Securities and Exchange Commission, SEC, Senate, CNBC, Democratic, Act
Locations:
Texas, Washington ,