News Topic: Mike Crapo

Fed Gov. Jerome Powell, who was first nominated to the central bank by President Obama, is widely seen as a continuity choice. ... Read full article

Discussions on a regulatory relief package between the top Democrat and Republican on the Senate Banking Committee broke down late Tuesday, but members from both parties remain hopeful they can reach a bipartisan deal. ... Read full article

Momentum is building to replace the hard-target $50 billion asset systemic risk threshold for banks with an indicator test, but it remains unclear whether it will be enough to get Congress to act. ... Read full article

Top executives at nineteen regional banks sent a letter to the Senate Banking Committee endorsing a bill that would change the systemically important financial institution threshold from $50 billion in assets to an indicator test. ... Read full article

Senate lawmakers will soon introduce a bill that could more than quadruple the current $50 billion threshold to be considered a systemically important bank, a top Trump administration official said Monday. ... Read full article

Congress may soon try to limit the personal identifiable information that companies and the government can collect on consumers based on their reaction to the massive data breach at Equifax. ... Read full article

Under the bill, regional banks may eventually be able to shed the systemically important financial institution designation that subjects those with more than $50 billion in assets to tougher regulatory requirements. ... Read full article

Equifax observed an increasingly well-worn ritual of scandal-ridden firms by jettisoning CEO Richard Smith: apologize, promise to do better in the future, and sacrifice your top executive in the hopes it will ward off action by Congress and regulators. ... Read full article

Democrats have striven to paint recent scandals at Wells Fargo and Equifax as prime examples of why a regulatory rule banning mandatory arbitration agreements should be upheld, but Republicans are not wavering on their desire to overturn it. ... Read full article

The hearings before the Senate Banking Committee have high stakes for both companies, as lawmakers are expected to ask the CEOs whether they should be fired. ... Read full article

Lawmakers may feel differently about some elements in a Senate regulatory relief bill depending on whether CFPB Director Cordray is remaining in office until his term expires in July. ... Read full article

Few lawmakers have stated positions on fintech applications for industrial loan company charters. It may not stay that way. ... Read full article

A mismatch of lawmakers from different parties and committees are wading into the aftermath of Equifax’s megabreach, with some using it to advance their policy agendas while others are calling for possible criminal prosecution. ... Read full article

Senate Banking Committee Chairman Sen. Mike Crapo, R-Idaho, said he is considering holding another hearing on Wells Fargo following the bank's recent missteps. ... Read full article

The nominations of Randal Quarles as Federal Reserve Board vice chairman and Joseph Otting as comptroller of the currency will now head to the full Senate. ... Read full article

As banks press for deregulation, the debate over whether high bank capital standards is inhibiting loan growth has taken center stage. ... Read full article

The House was expected Tuesday to pass a resolution to nullify the Consumer Financial Protection Bureau’s rule banning mandatory arbitration clauses. ... Read full article

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