Regulatory relief

The banking industry group has so far endorsed six candidates in their re-election campaigns for the upcoming November elections.

The House Financial Services Committee chair also acknowledged that his capital-formation bill still faces a potentially tough Senate vote.

The Federal Housing Finance Agency is suspending its ongoing review of new credit scoring models and will instead move forward with creating a regulatory framework for providers of alternative credit scores to apply and be evaluated for use by Fannie Mae and Freddie Mac.

The House appropriations bill would also expedite the appeals process for CFPB examination decisions and reduce the number of times big banks must submit resolution plans to every two years.

The Fed's top regulatory official suggested that some banks could get a break from filing resolution plans and see the frequency of their stress tests reduced.