House and Senate lawmakers formally filed resolutions on Thursday to repeal the Consumer Financial Protection Bureau's arbitration rule, but there were early signs that enacting them may prove challenging. ... Read full article
House Republicans are ramping up their criticism of the Fed for making interest payments to member banks on excess reserves, and may have identified a way to counter claims that the payments are critical to monetary policy. ... Read full article
House Financial Services Committee Chairman Jeb Hensarling continued the drumbeat of Republican attacks on Consumer Financial Protection Bureau Director Richard Cordray. ... Read full article
For Democrats, the scandal is a prominent symbol of big-bank misbehavior, while Republicans want to use it to show the shortcomings of the CFPB. ... Read full article
Ahead of the House vote Thursday on the Financial Choice Act, the two parties were assailing each other as proxies for Wall Street and painting themselves as defenders of community banking and the consumer. ... Read full article
The Congressional Budget Office said only community banks would choose to hold higher capital in return for fewer rules while lowering its estimate of cost savings of eliminating new FDIC resolution powers. ... Read full article
The House Financial Services Committee approved the Financial Choice Act by 34 to 26. While it has enough support to clear the GOP-controlled House, it is unlikely to gain traction in the Senate. ... Read full article
The House Financial Services Committee began debate Tuesday on a sweeping regulatory reform bill, yet while it is expected to pass on party lines, few expect it to standa chance in the Senate. ... Read full article
The financial press looks at possible ramifications from Jes Staley's attempt to unmask a whistleblower at the British bank; why has the digital currency failed to live up to eight years of hype? ... Read full article
Richmond Federal Reserve Bank President Jeffrey Lacker’s revelation that he was behind a 2012 leak may embolden the central bank’s critics in Congress. ... Read full article
Democrats, financial services industry executives and even Wall Street reformers are speaking out against President Trump's proposed cuts to the CDFI program. ... Read full article
