News Topic: Senate Banking Committee

One Republican lawmaker went so far as to suggest that Congress should try to block the central bank's effort, but Democrats said FedNow will promote competition in real-time payments. ... Read full article

Democratic lawmakers and consumer advocates say the remedies offered to consumers by firms like Capital One and Equifax are too difficult to access and not particularly helpful. ... Read full article

Senate Democrats are warning the Consumer Financial Protection Bureau to be careful as it considers changes to its mortgage underwriting rules. ... Read full article

The Banking Committee chairman's comments have advanced legislative efforts, but questions remain about where he'll take the issue. ... Read full article

The lawmakers, including Sens. Sherrod Brown and Elizabeth Warren, sent the bank a letter focusing on customers' difficulty enrolling in credit monitoring and identity protection services. ... Read full article

Senate Banking Committee members feel urgency to pass a bill dealing with Fannie Mae and Freddie Mac, but the same obstacles that have stalled congressional action for years remain. ... Read full article

With officials putting finishing touches on presidentially directed reports on the future of the housing finance system, the Senate Banking Committee announced a hearing to examine the issue. ... Read full article

Sen. Thom Tillis of North Carolina called for the panel to hold a hearing on what he termed the danger that the Federal Reserve will meddle in the 2020 presidential election. ... Read full article

When lawmakers return from their August recess, there are a host of unresolved financial policy issues — from marijuana banking to anti-money-laundering rule — to greet them. ... Read full article

Readers react to states investigating payroll advance companies and the GOP's weak response to cannabis banking, heed a warning that nonbanks are prepared for CECL and more. ... Read full article

The 2020 election is shaping up to be a key yardstick for legislation expanding cannabis firms’ financial services access. ... Read full article

Secretary Ben Carson was invited by the head of the Senate Banking Committee to Idaho to discuss low-income housing shortages. ... Read full article

The Massachusetts senator asked Richard Fairbank in a letter why the bank didn’t detect the breach for nearly four months and how it plans to prevent future cyber intrusions. ... Read full article

Ambiguity about which laws apply to blockchain technology has prevented certain companies from doing business in the United States. ... Read full article

The panel has had 13 public meetings since the Massachusetts senator’s last appearance, in May. ... Read full article

Under the Illicit Cash Act, anti-money-laundering rules would be clearer — so banks would have no excuses for noncompliance. ... Read full article

Expanding exemptions for initial margin requirements on swaps transactions “would harm financial stability and U.S. taxpayers,” said the top Democrats on the House and Senate banking panels. ... Read full article

Among other things, the letter asked the regulators to ease requirements for a new community bank leverage ratio and analyze the impact of the pending CECL accounting change. ... Read full article