News Topic: Pat Toomey

If the GOP keeps the Senate, the Pennsylvania Republican, who has pressed for bigger changes to the Dodd-Frank Act than recently enacted regulatory relief legislation, could be the next banking chair. Here's what that means. ... Read full article

Bill supporters say the guidance — which held indirect auto lenders liable for unintentional discrimination at partner dealerships — violated Dodd-Frank, but consumer advocates say the legislation would expose minority borrowers to mistreatment. ... Read full article

The details about political donations to over a dozen lawmakers raise fresh questions about the payday lending sector's influence in Washington. ... Read full article

On one hand, banks could face regulatory pressure to restrict services to the firearms industry. But banks that take a strong stand also risk the wrath of GOP lawmakers opposed to such restrictions. ... Read full article

Passage of a resolution blocking guidance on auto loan pricing could set a precedent that allows Congress to nullify other long-past regulatory issuances. ... Read full article

As the Senate closes in on overturning the Consumer Financial Protection Bureau's 2013 indirect auto loan rule, a central question is how lasting the congressional measure will be in limiting the CFPB's authority. ... Read full article

Three Trump administration nominees faced thorough questioning from the Senate Banking Committee, although Democrats reserved much of their fire for the president’s nominee to the Federal Reserve Board. ... Read full article

Dueling blockchain stories — one arguing it was virtually useless, the other saying it could change real estate lending — seized the top spots this week, while readers also focused on tax reform aftermath and a key Senate retirement. ... Read full article

The announcement Tuesday by Sen. Orrin Hatch that he will retire at the end of the year could have a ripple effect throughout the Senate, including the leadership of the Banking Committee. ... Read full article

Rep. Blaine Luetkemeyer is calling on bank regulators to draw up a list of guidance going back 20 years to determine whether it should be submitted under the Congressional Review Act. ... Read full article

A GAO determination has effectively nullified a 2013 leveraged lending guidance. But that leaves the future uncertain about what, if anything, regulators will devise to replace it — and how banks should treat such loans in the meantime. ... Read full article

Federal regulators’ 2013 guidance on leveraged lending should have been treated as a rule under the Congressional Review Act – and is now eligible for Congress to repeal, the Government Accountability Office said Thursday. ... Read full article

The Government Accountability Office has agreed to a request by a GOP lawmaker to examine whether congress can reject regulators' guidance. ... Read full article