Watch Kennedy’s comments here.

WASHINGTON – Sen. John Kennedy (R-La.) condemned some members of the Krewe of Carrollton for harassing police officers during a recent Mardi Gras parade in a speech on the U.S. Senate floor.

Key excerpts of the speech are below:

“I want to choose my words carefully here because I love Louisiana. . . . But sometimes some of my people do dumb things. We’re all human. And something just happened at Mardi Gras that turned my stomach.”

. . .

“We had the Krewe of Carrollton sponsor a float. Wonderful people in the Krewe of Carrollton. One of the oldest krewes we have. But there were some knuckleheads on those floats. . . . And 41 people on one of the Krewe of Carrollton floats were throwing beads and toys and other stuff, trying to hit the cops in the face. And it wasn’t just one or two. It was disgraceful. . . . It’s embarrassing for me to have to say this, that this happened in my state and my city, but it did.”

. . .

“And these 41 people, after receiving due process, if they did this, they shouldn’t just be disciplined. ‘Oh, you can’t ride next year.’ They need to prosecute, and people in New Orleans need to demand it. Acts have consequences, and you don’t have the right to hurt cops just because you don’t like them.”

Watch Kennedy’s speech here.  

WASHINGTON – Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, today joined Sens. Ted Budd (R-N.C.), Andy Kim (D-N.J.), and Angela Alsobrooks (D-Md.) in introducing the Tailored Regulatory Updates for Supervisory Testing (TRUST) Act.

Currently, banks with more than $3 billion in assets are subject to “full-scope” on-site examinations every 12 months, rather than the more lenient 18-month timeline regulators give many banks with fewer assets.

Requiring a demanding examination process on a twelve-month basis creates a significant regulatory burden for small community banks. 

By raising the threshold to $6 billion to reflect inflation, the TRUST Act would allow a larger number of community banks to be examined every 18 months. This change would help the government use its resources more efficiently and offer relief to many community banks across the country. 

“Because Washington rules haven’t kept up with inflation, many community banks are tied up in unnecessarily frequent examinations. That isn’t right. Our TRUST Act would update the law to free many community banks from a pointlessly high regulatory burden and let the government use taxpayer money more efficiently,” said Kennedy. 

“The federal regulatory threshold for well-managed institutions has failed to keep up with inflation, industry consolidation, and modern risk management practices, and as a result has sacrificed both the resources and efficiency of our community banks. Increasing the statutory 18-month exam cycle asset threshold for community banks would free these small, low-risk institutions to do what they do best—provide financial resources to their communities, such as lending more to small businesses and offering more mortgages and private loans. The TRUST Act delivers responsible regulatory reforms that cut unnecessary red tape and modernize federal bank supervision,” said Budd.

“For rural and small towns left behind in bank deserts like we have in South Jersey, community banks are a game changer – driving economic and community development and supporting our small businesses and entire local economies. By uplifting the promise of community banking in this legislation, we give working families greater flexibility and help unlock paths to buying a home, new jobs, and the greater economic stability they deserve,” said Kim.

“Our local businesses, homebuyers, and farmers depend on community banks to get the capital they need. Maintaining rigorous oversight while modernizing the exam process allows well-managed, low-risk institutions to grow responsibly and continue investing in the communities they serve. I’m proud to join this bipartisan, commonsense legislation,” said Alsobrooks.

Reps. Tim Moore (R-N.C.) and Ritchie Torres (D-N.Y.) introduced the companion bill in the U.S. House of Representatives, which passed the House Financial Services Committee in a 48-0 vote. 

“Community banks and credit unions are essential to the success of our local economies as they’re the place where folks turn when they need help buying a home or starting a business. Local financial institutions shouldn’t be hindered by one-size-fits-all regulations that treat them like major banking corporations. I’m proud to work with Senator Budd on the TRUST Act to ensure these banks have the flexibility to focus on serving hardworking families and building new opportunities for economic growth,” said Moore.

“Community banks play an essential role in expanding access to capital, supporting small businesses, and strengthening local economies, especially in communities like the Bronx where neighborhood institutions are often the first stop for entrepreneurs, homeowners, and working families. The TRUST Act is a commonsense, bipartisan update that allows regulators to focus their attention where the risk is greatest while giving well-managed institutions more room to serve their customers. By modernizing outdated thresholds without compromising safety and soundness, we can make oversight more effective and ensure our financial system works for communities like NY-15 that depend on strong, local banking relationships to grow and thrive,” said Torres.

The American Bankers Association, Independent Community Bankers of America, and the American Fintech Council support the TRUST Act.

View the full bill text here.

WASHINGTON – Sens. John Kennedy (R-La.), Chuck Grassley (R-Iowa), Thom Tillis (R-N.C.), and John Cornyn (R-Texas), members of the Senate Judiciary Committee, today introduced the Litigation Funding Transparency Act, which would require third-party funders of class action or mass tort lawsuits to disclose their payments.

“The American people deserve to know when corporations and foreign states pour money into class action lawsuits to influence outcomes. I’m proud to work together with my friend Chairman Grassley to introduce the Litigation Funding Transparency Act, which would lift the lid on the entities funding important legal battles in our country,” said Kennedy.

“Transparency brings accountability. For too long, obscure third-party litigation funding agreements have secretly funneled money into our civil justice system without any meaningful oversight. Americans should know if there are undue pressures at play that could needlessly prolong litigation, harm claimants’ interests or benefit foreign adversaries. The Litigation Funding Transparency Act strikes the right balance of sunshine, while protecting Americans’ access to justice,” said Grassley.

“Predatory litigation financing allows outside funders, including those backed by foreign governments, to profit off our legal system, driving up costs for families and delaying justice. This legislation will bring overdue transparency and accountability to these abusive practices,” said Tillis. 

“By requiring the disclosure of third-party litigation funding, this commonsense bill would restore transparency and accountability to a system that has been plagued by dark money and foreign influence for far too long, and I’m proud to support it,” said Cornyn. 

Currently, both foreign and domestic entities inject billions of dollars into U.S. third-party litigation financing to influence case outcomes. 

The Litigation Funding Transparency Act would:

• Mandate disclosure of third-party litigation funding in mass tort or class action lawsuits.

• Require disclosure when the funder is a foreign state, foreign person, commercial enterprise or sovereign wealth fund that is not a party to the lawsuit in most cases.

The U.S. Chamber of Commerce, the American Property Casualty Insurance Association (APCIA), the National Insurance Crime Bureau (NICB), and the High Tech Inventors Alliance support the Litigation Funding Transparency Act. 

“Outside financiers treat our court system like a casino. They drive up costs for consumers and put our national and economic security at risk. Americans should not be taken advantage of in our own courtrooms. All parties involved in class actions and multi-district litigation cases should know who is secretly bankrolling the cases and manipulating the outcomes for profit. Requiring the disclosure of these hidden financial interests will protect American businesses and safeguard the integrity of our justice system. The U.S. Chamber of Commerce thanks Senators Grassley, Tillis, Kennedy and Cornyn for their leadership on this critical issue and we encourage the Senate to advance this legislation,” said Stephen Waguespack, President of the U.S. Chamber of Commerce Institute for Legal Reform.

“APCIA strongly supports Senator Grassley’s Litigation Funding Transparency Act. Bringing transparency to third party litigation funding is a commonsense step that protects consumers and strengthens the integrity of our civil justice system. We applaud Senator Grassley’s leadership in advancing reforms that promote fairness and accountability,” said Sam Whitfield, Senior Vice President of Federal Government Relations and Political Engagement of APCIA.

“From on-the-ground investigations of criminal fraud rings to sophisticated analytics of litigation marketing campaigns, NICB has seen firsthand how third-party litigation funding can serve as a facilitator of insurance fraud, which increases costs for everyone. NICB applauds Chairman Grassley’s introduction of the Litigation Funding Transparency Act, which will help combat the improper incentives that attract fraudsters through improved transparency and accountability,” said David J. Glawe, President and Chief Executive Officer of the NICB.

"We thank Chairman Grassley for taking up this critically important issue and commend him for introducing legislation that would improve transparency regarding who is funding litigation in U.S. courts and whether these funders are improperly controlling plaintiffs’ litigation decisions. For too long, a lack of transparency has allowed funders to control litigation against U.S. companies from the shadows, while often themselves being funded or controlled by anonymous foreign investors and foreign governments’ sovereign wealth funds. Congress should act to require much needed transparency to prevent hedge funds and foreign interests from secretly manipulating our legal system to the detriment of U.S. companies and the broader U.S. economy,” said Dave Jones, Executive Director of the High Tech Inventors Alliance.

Kennedy has long targeted efforts to conceal third-party actors’ funding of lawsuits. In particular, Kennedy haschampioned his Protecting Our Courts from Foreign Manipulation Act, which would stop foreign governments and certain entities from covertly funding litigation in America’s courts.

The full bill text is available here.

WASHINGTON – Sen. John Kennedy (R-La.) joined Sen. Roger Wicker (R-Miss.) and ten bipartisan colleagues in introducing the Regional Ocean Partnerships Reauthorization Act, which would renew key partnerships between the federal government, states, nonprofits, universities, and the private sector that help communities better coordinate coastal resources. 

“Louisiana is the Sportsman’s Paradise, and we owe so much of that to the Gulf of America and the incredible natural bounty our state is blessed with. That’s why I’m proud to help renew our partnerships with the federal government, other states, and businesses and nonprofits to keep our Gulf communities strong and clean,” said Kennedy. 

“Mississippi and other coastal states share similar concerns regarding American waters, including the impact of harmful algal blooms and lack of data for oyster farmers. It is important for states to work together to provide solutions for the issues our coasts face today. This bill promotes regional collaboration, builds stronger data-base portals, and leverages funding to strengthen our Blue Economy and protect natural resources,” said Wicker.

The bill would reauthorize the public-private Regional Ocean Partnerships program for fiscal years (FY) 2028 through 2031. The program supports four regional alliances that coordinate voluntary conservation, resilience, and restoration efforts among states, federal agencies, universities, nonprofits, and private partners.

In the Gulf region, the Gulf of America Alliance (GOAA) includes Louisiana, Alabama, Florida, Mississippi, and Texas and focuses on improving the long-term health and resilience of the Gulf.

GOAA-supported projects benefiting Louisiana include: 

• Monitoring and protecting habitat health for Gulf species. 

• Tracking coastal water quality.

• Helping northeast Louisiana farmers reduce erosion and water pollution

• Removing lost and abandoned crab traps. 

• Evaluating toxins in waterfowl.

Sens. Bill Cassidy (R-La.), Lisa Blunt Rochester (D-Del.), Katie Britt (R-Ala.), Susan Collins (R-Maine), Chris Coons (D-Del.), Maria Cantwell (D-Wash.), Maggie Hassan (D-N.H.), Ed Markey (D-Mass.), Chris Murphy (D-Conn.), and Jeff Merkley (D-Ore.) also cosponsored the legislation.

“I’m proud to be introducing the bipartisan Regional Ocean Partnerships Act with Senator Wicker. Together, we will further empower states to work collaboratively to address coastal issues,” said Blunt Rochester.

“My dedication to supporting Alabama’s coastal communities is unwavering. The most significant priorities in the Gulf of America may differ from those in the Pacific or the Atlantic – The Regional Ocean Partnerships Act engages local and state governments, including stakeholders, to safeguard our oceans and coasts by curating regional plans to ensure federal and state resources are used efficiently from coast to coast. As coastal communities, including in our Southern states, continue to grow and thrive, I’m proud to champion legislation that prioritizes their needs,” said Britt.

“Delaware’s beaches are treasures of our state. We must protect them for the families that come to our shores to make lifelong memories, for the communities they protect from storms and flooding, and for the coastal economies they sustain and grow. I’m proud to support this bill to help preserve these natural resources, because healthy oceans make for a stronger Delaware,” said Coons.

“Massachusetts' coastal communities depend on a healthy ocean—but we can’t navigate stormy waters alone. This bipartisan bill will support the ongoing work done across the Northeast region to address key ocean and coastal issues,” said Markey.

“The Regional Ocean Partnership program is one of our best tools when it comes to planning for the future of Connecticut's economy and protecting the health of the Long Island Sound. By bringing together ocean scientists and lawmakers from across New England, we can collaborate on research and be better prepared to respond to climate change and worsening natural disasters. I'm proud to support this bipartisan legislation to make sure this collaboration remains strong and can expand across the country,” said Murphy.

The Regional Ocean Partnerships program was originally authorized for FY 2023 through 2027 as part of the 2021 National Defense Authorization Act. Previously, Kennedy cosponsored the original 2019 authorization bill during the 116th Congress.

Full text of the legislation is available here.