The House affirmed this week that it would move forward with a vote on a Senate bill overhauling parts of Dodd-Frank, but how far lawmakers push additional relief proposals is still unclear.
Bill supporters say the guidance — which held indirect auto lenders liable for unintentional discrimination at partner dealerships — violated Dodd-Frank, but consumer advocates say the legislation would expose minority borrowers to mistreatment.
Speaker Paul Ryan said the House will vote on Dodd-Frank reform legislation that originated in the Senate, but additional House reg relief measures are still on the table.
The lawmakers are calling on banks to follow the lead of Citigroup and Bank of America in limiting their business with firearms dealers in light of recent mass shootings.
Acting CFPB Director Mick Mulvaney told a group of bankers last week that he intends to end public access to complaints, but Sen. Elizabeth Warren and two other Democrats argue that would be a mistake.
On one hand, banks could face regulatory pressure to restrict services to the firearms industry. But banks that take a strong stand also risk the wrath of GOP lawmakers opposed to such restrictions.
The American Bankers Association will fund TV ads for Sen. Jon Tester, D-Mont., and Rep. Ted Budd, R-N.C., the first of several candidates the group expects to actively promote during the midterms.
