Four financial trade associations sent a letter to Senate leaders touting the regulatory relief bill as "example of how our elected leaders can advance necessary solutions by working together and across the aisle."
Mick Mulvaney’s unapologetic memo to staff about the Consumer Financial Protection Bureau’s mission headlined a spate of developments this past week as he continues to transform the agency. Here are the key developments.
Analysts believe a bipartisan coalition supporting limited regulatory relief will hold, but the toxic political environment and more looming budget battles to come could obstruct the banking bill's path.
Many in the industry applauded the Consumer Financial Protection Bureau's new mission statement shifting the agency's focus away from using enforcement actions as a substitute for rules of the road.
A bill passed by the House would raise the threshold that allows smaller banks and credit unions to avoid expanded Home Mortgage Disclosure Act requirements imposed by a 2015 rule.
Readers react to Mick Mulvaney launching a public review of the Consumer Financial Protection Bureau, weigh in on the Senate’s bill to ease some Dodd-Frank rules, opine on how the wave of GOP departures will affect banks and more.
Mark Calabria, chief economist to Vice President Mike Pence, said passage of the regulatory relief bill could be delayed as policymakers deal with other items such as budget deadlines and an infrastructure bill.
Of the more than 30 GOP lawmakers due to retire at yearend - a historically significant level of departures for a single election - several are important to banking policy.
House Republicans are exiting Congress in droves ahead of the 2018 midterm elections and the stakes for the financial services industry could be significant.
The Senate Banking Committee is expected to consider the nominations of Jelena McWilliams to be FDIC chair and Marvin Goodfriend as a governor of the Federal Reserve Board.
