Sen. Mark Warner led a group of Democratic senators in calling on bank, credit union and GSE regulators to give detailed instructions on helping consumer and commercial borrowers hurt by the COVID-19 outbreak.
U.S. lawmakers are pushing regulators to provide room for banks to work out loans with businesses and consumers who may be affected by the coronavirus.
Beneficial-ownership legislation is within the banking industry’s reach, but the prospect of new regulatory burdens for small businesses is forcing lawmakers to choose sides.
Though a draft has been circulating since this summer, eight senators on Thursday officially released a bill to require companies to disclose their true owners at incorporation.
Democratic lawmakers and consumer advocates say the remedies offered to consumers by firms like Capital One and Equifax are too difficult to access and not particularly helpful.
A group of senators on the Banking Committee sent a letter to the central bank chairman grilling him on the agency's efforts to develop a real-time payments system.
Senators dove into how to ensure housing finance reform serves lenders of all sizes, just as the Trump administration moved closer to crafting its own GSE plan.
The regulatory agencies are the last word on an exemption from the proprietary trading ban, and there are no signs they will expand it beyond small institutions.
