Pat Toomey

The Senate may not flip but Banking Committee is poised for shake-up


If the GOP can hold its majority in the chamber, Sen. Pat Toomey, R-Pa., will likely become the panel's chairman. His ardent support for free-market principles could set up partisan clashes with Democrats over pandemic relief, money laundering rules and more.


Banking panel's No. 2 Republican will not seek reelection: Report


Sen. Pat Toomey, R-Pa., a potential chair of the Senate Banking Committee in the next Congress, is expected to announce that he is not running in 2022.


Key Republicans still undecided on Shelton's Fed nomination


Three key Republicans on the Senate Banking Committee said Monday that they remain undecided on President Donald Trump's nomination of Judy Shelton to the Federal Reserve Board.


Trump nominee for Fed seat gets cold shoulder from senators


Both Democrats and Republicans aired concerns about controversial statements made by Judy Shelton on monetary policy, deposit insurance and other issues, raising doubts about her confirmation.


Shell-company bill drives wedge between banking, small business


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.


Scott to lead Senate Banking's financial institutions subcommittee


The South Carolina Republican will take over for Sen. Pat Toomey, R-Pa., as part of a reshuffling of subcommittee assignments.


It's official: White House taps Calabria as head of FHFA


The White House confirmed that it plans to nominate Mark Calabria as the next director of the Federal Housing Finance Agency.


Ease banks’ AML reporting burden? FBI, Fincen say not so fast


As Congress weighs Bank Secrecy Act reforms, some worry that reducing suspicious transaction filings would be a gift to criminals.


GOP senators join criticism of Fed over capital rules for megabanks


Echoing House members, five Republican senators called on the Federal Reserve Board to rethink its surcharge in order to eliminate “excessive” capital requirements.


Fintech vulnerability, Square bails, new blood among CROs: Top stories of the week


One firm's inability to access bank data shows how fragile fintechs can be; payments processor Square quietly withdraws bank application; turnover of chief risk officers is on the rise; and more from this week's most-read stories.