Senate Banking Committee

Democrats seek assurance regulators won't weaken CRA


A day after House Democrats urged the banking agencies to unite behind a joint plan to update the Community Reinvestment Act, Senate Democrats worried that an impending proposal from the OCC and FDIC will reduce access to credit.


Is it now or never for AML reform?


The 2020 elections and a potential new chair of the Senate Banking Committee in the next Congress could put a deadline on passage of a bill to ease a key anti-money-laundering requirement for banks.


Senate bill would require Fed to develop stress tests for climate risks


Five Democrats running for president support the legislation introduced Wednesday that would require the central bank to form an advisory group to analyze how climate change would affect the financial system.


GOP senator tries to block commercial firms from becoming banks


Sen. John Kennedy, R-La., has proposed a bill to bar companies such as Rakuten from using industrial loan companies to access the banking system.


House, Senate bills would cap all consumer loans at 36%


The Veterans and Consumers Fair Credit Act would extend Military Lending Act protections to all consumers.


House bill would mandate congressional visits by big-bank CEOs


Rep. Ayanna Pressley, D-Mass., has proposed requiring annual testimony by the heads of the U.S. "global systemically important" banks.


Dems demand CFPB investigation of Pa. loan forgiveness program


Nearly two dozen Senate Democrats say the CFPB should "immediately" open up an enforcement investigation into the Pennsylvania Higher Education Assistance Agency’s loan forgiveness program for alleged mismanagement.


Shell-company bill drives wedge between banking, small business


Beneficial-ownership legislation is within the banking industry’s reach, but the prospect of new regulatory burdens for small businesses is forcing lawmakers to choose sides.


GOP senator tells Libra Association member to stay the course


As some of Facebook's partners pull out of the Libra cyrptocurrency project, Sen. Mike Rounds, R-S.D., encouraged a company located in his state to remain involved.


Vaping deaths could slow pot banking momentum


The Senate Banking Committee chairman said he wants to revise legislation enabling banks to serve marijuana businesses to ensure it does not benefit vaping providers that have sparked safety concerns.