Congressional Review Act

As Democrats urge pause in bank rules, GOP says hurry up


The congressional showdown over the pace of rulemaking during the pandemic is a hardening of older positions on banking policy ahead of the 2020 elections, observers said.


Regulators' powerful incentive to fast-track CRA reform


The prospects of a potential Democratic sweep of the 2020 elections could spur regulators to quickly finalize changes to the Community Reinvestment Act.


GAO finds Obama-era Fed guidance should have been issued as rules


The Government Accountability Office determined that three Obama-era letters from the central bank related to large-bank supervision should have been submitted for congressional review.


House Dems put spotlight on auto lending discrimination


Democratic lawmakers made clear at a hearing Wednesday that they do not intend to abandon the issue following the GOP's repeal of regulatory guidance last year.


Will White House memo be a roadblock for reg relief?


The administration’s move seems aimed at cutting down on regulation. But broader reviews by the White House under the Congressional Review Act could hinder rules the industry supports.


Regulators instructed to clear new rules with White House


The Trump administration directed independent agencies to submit their pending regulations for review by the Office of Information and Regulatory Affairs, a novel procedural hurdle that could slow down policy changes.


Democrats push bill to end forced arbitration agreements


The effort comes more than a year after Republicans successfully blocked a CFPB rule that would have banned mandatory arbitration clauses in financial contracts.


Regulators clarify that guidance does not have the force of law


Regulators will continue to issue guidance to articulate general views on appropriate practices, but they will not issue enforcement actions based on violations.


Trump makes repeal of CFPB auto lending rule official


The CFPB policy was aimed at preventing discriminatory markups on indirect loans made by car dealers, but current acting CFPB Director Mick Mulvaney said the guidance "seemed like a solution in search of a problem."


The real fight over CFPB's payday rule is just beginning


It's too late for Congress to overturn the consumer bureau's regulation on short-term lending, but acting Director Mick Mulvaney will have plenty of chances to reshape it.