While some community bankers and Washington advocates doubt the likelihood of achieving meaningful regulatory relief in the 115th Congress, the many measures advancing on Capitol Hill leave plenty of room for optimism.
During the past year, many have hoped for action from Washington that can alleviate burden and stem the rapid pace of consolidation. But in the current political environment, that appears increasingly unlikely.
Trump officials have made clear their intent to reexamine how Federal Housing Administration lenders are cited under the False Claims Act, but whether that means lenders can rest easier is an open question.
The authority of the Financial Stability Oversight Council to label a firm a “systemically important financial institution” triggers duplicative regulation even if bank-like rules are not appropriate to the company.
Democrats' victories in Virginia and New Jersey fueled speculation that they may be able retake the House during midterm elections next year. That could have a big impact on regulatory relief, housing finance reform and other bank priorities.
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.
During his time as Fed governor, Chair-designate Jerome Powell has outlined his views on a host of bank regulatory matters, including the need for regulatory relief, the push for housing finance reform, blockchain and much more.
Discussions on a regulatory relief package between the top Democrat and Republican on the Senate Banking Committee broke down late Tuesday, but members from both parties remain hopeful they can reach a bipartisan deal.
In a somewhat surprising decision, House Financial Services Committee Chairman Jeb Hensarling announced his retirement from Congress on Tuesday, but speculation immediately grew that he could fill a regulatory post.
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.
