The Office of the Comptroller of the Currency has been leading the charge on revamping the Community Reinvestment Act, but a big unknown is whether the other two regulators charged with carrying out the law are committed to moving ahead as swiftly on a reform plan.
Sixty-four consumer groups are speaking out against a Senate measure, expected to be voted on this week, that would overturn the Consumer Financial Protection Bureau's 2013 regulation on discriminatory pricing by auto lenders.
The bill, which also exempts community banks from the trading ban named for former Fed Chairman Paul Volcker, would go a step further than the regulatory relief bill that passed the Senate.
The agencies proposed changes to the way they apply a capital backstop to the largest systemically important firms, replacing a static leverage ratio with a more dynamic ratio that takes each bank’s risk profile into account.
House Speaker Paul Ryan's decision not to seek re-election is another sign of the difficulties Republicans will likely face in holding the chamber in November, heightening pressure to move a pending regulatory relief bill as soon as possible.
The Consumer Financial Protection Bureau on Wednesday asked for public input on the way it receives and processes complaints from consumers in what the agency said was a preliminary step toward making improvements.
Questions about the CFPB’s structure, high-profile enforcement actions and the acting director’s rift with Elizabeth Warren could dominate two days of hearings on Capitol Hill.
