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