News Topic: Senate Banking Committee

The committee approved the nomination of Kathy Kraninger to head the Consumer Financial Protection Bureau, despite strong Democratic opposition, as well as President Trump's picks for Ginnie Mae, the Export-Import Bank and several other positions. ... Read full article

Sen. Heidi Heitkamp, D-N.D., has compromised with Republicans on key issues and supported other Trump nominees, but she said Kathy Kraninger lacks enough experience to run the consumer bureau. ... Read full article

The senator's proposed legislation includes a ban on individual stock ownership and restrictions on government employees joining the lobbying ranks. ... Read full article

Lawmakers fear that regional banks could still get stung as the central bank implements a new law meant to ease their burden. ... Read full article

The letter from lawmakers to the bureau follows a report that the agency does not view the exams as explicitly required by the law. ... Read full article

The Banking Committee had delayed a vote on Kathy Kraninger’s confirmation after the Senate announced a short summer recess. ... Read full article

While the industry's trend of supporting Republicans continues, Senate Democrats who backed reg relief are drawing key industry support. ... Read full article

While bankers typically donate more to the political re-election campaigns of Republicans, their giving has shifted more to Democratic incumbents in the Senate for the upcoming midterms. ... Read full article

Sen. Brian Schatz, D-Hawaii, said it is hard to imagine how Wells Fargo's $8 million remediation plan would correct a mistake that led to 400 wrongful foreclosures. ... Read full article

Some of the tightest contests in the midterm elections may have big implications for the future of banking policy. ... Read full article

Sherrod Brown of Ohio and Cory Booker of New Jersey unveiled a bill to ban overdraft fees on debit card transactions and ATM withdrawals. ... Read full article

Echoing House members, five Republican senators called on the Federal Reserve Board to rethink its surcharge in order to eliminate “excessive” capital requirements. ... Read full article

The Senate recess is postponing the committee's vote comes as Democrats press Kathy Kraninger on involvement with zero-tolerance immigration policy at OMB. ... Read full article

In a letter to heads of five Federal regulators, Sens. Elizabeth Warren, Sherrod Brown and Jeff Merkley say the public should know the impact of Volcker in light of proposed changes. ... Read full article

Kathy Kraninger, President Trump’s pick to run the CFPB, will testify before Congress on Thursday in what is likely to be a defining moment for her nomination. ... Read full article

The central bank has encountered criticism for allowing three banks to direct funds to dividends and buybacks even though their capital levels fell below required minimums. ... Read full article

The Bank Policy Institute was formed following the merger of The Clearing House Association and the Financial Services Roundtable. ... Read full article

With the recent focus on capital formation bills, lawmakers appear to be putting their Dodd-Frank angst aside. ... Read full article