Majority Leader Mitch McConnell filed a motion for cloture on the nomination of Kathy Kraninger to run the agency, setting up a potential vote later this month.
In his second straight day of congressional testimony, the central bank’s top regulatory official was put on the defensive about a pending proposal to relieve regional banks from the toughest supervisory requirements.
Sen. Elizabeth Warren said regulators are failing to respond to what she thinks could be a new meltdown in the making: the trillion-dollar market for leveraged loans.
As he weighs a possible presidential bid, Sen. Sherrod Brown, D-Ohio, touched on a likely campaign theme Tuesday, saying both political parties have done a poor job dealing with rural concerns.
The Senate is poised to confirm Kansas Banking Commissioner Michelle Bowman to the Federal Reserve Board. But the nominations for the two other open seats are still in limbo.
Rep. Kyrsten Sinema, D-Ariz., crafted a moderate message and will head to the Senate after having backed legislation providing banks with regulatory relief.
Republicans on the Senate Banking Committee expressed concern that FDIC examiners are verbally discouraging banks from working with certain businesses.
