News Topic: Senate Banking Committee

Chair Jerome Powell told a congressional panel that the Federal Reserve is weighing whether to extend temporary relief from the “supplementary leverage ratio” — meant to help banks lend more during the pandemic — beyond March 31. ... Read full article

The Banking Committee will hold a confirmation hearing on March 2 for Rohit Chopra and Gary Gensler. They are the administration's picks, respectively, to lead the Consumer Financial Protection Bureau and the Securities and Exchange Commission. ... Read full article

Sen. Richard Shelby. R-Ala., served two stints as head of the committee. He announced Monday that he will not run for reelection when his term expires. ... Read full article

Steve Daines of Montana, Bill Hagerty of Tennessee and Cynthia Lummis of Wyoming are joining the panel for the 117th Congress. ... Read full article

Democrats Raphael Warnock and Jon Ossoff, who won runoff elections to flip party control of the Senate, were assigned to sit on the panel for the 117th Congress. ... Read full article

Marcia Fudge told senators that her first priority as secretary would be to assist renters and homeowners struggling financially due to the COVID-19 pandemic. ... Read full article

The Senate’s confirmation of Treasury Secretary Janet Yellen was notably bipartisan. But experts say congressional Republicans are poised to give nominees for the federal banking agencies heavier scrutiny. ... Read full article

Sen. Sherrod Brown, D-Ohio, said elevating affordable housing issues, examining the financial system through a climate and racial justice "lens" and holding banks accountable for their impact on consumers will be among his priorities. ... Read full article

Sen. Sherrod Brown of Ohio signaled a change in direction for the Banking Committee under Democratic control, on the same day he called for President Trump's ouster after the U.S. Capitol riot. ... Read full article

The defense spending bill includes language requiring businesses to report their owners to Fincen. ... Read full article

The Maryland Democrat served five terms in the U.S. Senate, a 30-year tenure in which he was chairman of the Senate Banking Committee when it responded to a rash of accounting scandals. He didn’t seek a sixth term and retired on Jan. 3, 2007. ... Read full article

Banking trade organizations are usually cautious about making endorsements. But with Democrats winning the White House and control of Congress on the line in the two races, some groups are pouring in cash for the GOP candidates. ... Read full article

Tuesday's hearing on the CARES Act was dominated by bickering over Treasury's decision to shut down the Fed's emergency lending facilities, drowning out pleas from some lawmakers for more aid. ... Read full article

If Congress speeds through Brian Brooks’ confirmation in the waning days of the Trump administration, it could make it harder for President-elect Biden to quickly put his stamp on banking policy. ... Read full article

Sen. Pat Toomey, R-Pa., who would likely chair the Banking Committee if the GOP retains control of the chamber, signaled support for helping banks serve marijuana businesses. But he is skeptical of an anti-money-laundering bill backed by the industry and ... Read full article

If the GOP can hold its majority in the chamber, Sen. Pat Toomey, R-Pa., will likely become the panel's chairman. His ardent support for free-market principles could set up partisan clashes with Democrats over pandemic relief, money laundering rules ... Read full article

Regulators were receptive to Republican lawmakers' calls to ease burdens on banks that cross new asset thresholds as a result of their participation in the Paycheck Protection Program. ... Read full article

The chairman of the National Credit Union Administration said during his limited time in a Senate Banking Committee hearing that he hoped changes to the agency's Central Liquidity Facility would last for the duration of the pandemic. ... Read full article