Senate Banking Committee

Democratic senators quiz CFPB on its auto lending policies


Sens. Sherrod Brown and Elizabeth Warren criticized Director Kathy Kraninger for not issuing any public enforcement actions against auto lenders during her tenure.


Virus focus further dashes banks’ hopes of pot banking, AML reform


Financial institutions’ legislative agenda was already a low priority in Congress. Lawmakers’ efforts to stabilize the economy have shifted attention even farther away from bills that would benefit the industry.


Senator urges banks to stop stock buybacks during coronavirus outbreak


Sen. Sherrod Brown of Ohio, the top Democrat on the Banking Committee, said financial institutions "need to be investing in their communities right now, not investing in their CEOs’ stock portfolios.”


Democrats urge regulators to offer lenders more coronavirus guidance


Sen. Mark Warner led a group of Democratic senators in calling on bank, credit union and GSE regulators to give detailed instructions on helping consumer and commercial borrowers hurt by the COVID-19 outbreak.


Lawmakers say banks need guidance on virus-related workarounds


U.S. lawmakers are pushing regulators to provide room for banks to work out loans with businesses and consumers who may be affected by the coronavirus.


GOP senator says he will back Shelton for Fed board


Sen. Pat Toomey, R-Pa., had been among a handful of Republicans on the fence about Judy Shelton's nomination, but he said she quelled his concerns about her monetary policy views.


House lawmakers give update on CECL, pot banking


At a credit union conference, Rep. Blaine Luetkemeyer, R-Mo., said Congress has "got to be pushing back" against the Current Expected Credit Losses standard, while Rep. Steve Stivers, R-Ohio, indicated that not all Republicans view the cannabis banking issue the same way.


Key Republicans still undecided on Shelton's Fed nomination


Three key Republicans on the Senate Banking Committee said Monday that they remain undecided on President Donald Trump's nomination of Judy Shelton to the Federal Reserve Board.


Senate Republicans target banks refusing services to ICE contractors


Five Republican senators want to cut off deposit insurance for banks that have stopped offering financial services to firms that operate detention facilities and private prisons on behalf of the federal government.


Trump nominee for Fed seat gets cold shoulder from senators


Both Democrats and Republicans aired concerns about controversial statements made by Judy Shelton on monetary policy, deposit insurance and other issues, raising doubts about her confirmation.