Senate Banking Committee

House votes to protect VA loans, promote counseling for FHA borrowers

07/10/19

The chamber passed a bill that would clarify how certain loans backed by the Department of Veterans Affairs are securitized, and legislation encouraging first-time homebuyers to participate in counseling programs.

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Will Congress stop Facebook's Libra?

07/02/19

The rush to hold hearings in both the House and the Senate reflects broad skepticism across the political spectrum about the social network's plan to develop an alternative payment system.

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Senators: Decision to halt FHA lending to DACA recipients is unacceptable

06/26/19

A group of Senate Democrats have called on HUD Secretary Ben Carson to reverse his agency’s opinion that borrowers in the Deferred Action for Childhood Arrivals program are ineligible for FHA loans.

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Do lending algorithms discriminate? Congress seeks answers

06/26/19

After years of largely standing on the sidelines, lawmakers are taking a closer look at whether algorithms used by banks and fintechs to make lending decisions could make discrimination worse instead of better.

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Lawmakers spar over whether Fannie, Freddie are SIFIs

06/25/19

There is bipartisan agreement in the Senate that Fannie Mae and Freddie Mac are "too big to fail" but some lawmakers are skeptical that a SIFI designation is appropriate.

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Before they regulate AI, Congress needs to define it

06/25/19

As lawmakers meet this week to discuss artificial intelligence, they should work with regulators to create universal and workable definitions.

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Why Washington mobilized so quickly against Facebook's crypto plans

06/24/19

The speed and the bipartisan nature of the demand for an investigation into Facebook's Libra are telling, giving ammunition to those who warned the cryptocurrency space is underregulated and unsafe

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Senate Banking panel sets hearing on Facebook's Libra

06/19/19

Senators will examine the social media giant’s plan to offer a digital currency. House Financial Services Committee leaders have already criticized the idea.

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CFPB chief’s equal-opportunity calendar

06/17/19

In her first four and a half months, Kathy Kraninger met with lawmakers more than twice as often as her predecessor, but her schedule demonstrates willingness to meet with industry and policy stakeholders from various camps.

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Warren, Jones press regulators on fintech lending discrimination

06/12/19

Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers.

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