Claire Williams

Federal Reserve Gov. Michelle Bowman will go before the Senate Banking Committee Thursday for her confirmation hearing to be the next vice chair for supervision at the central bank.

House Financial Services Committee member Andy Barr, R-Ky., will introduce a Congressional Review Act resolution to nullify the Office of the Comptroller of the Currency's merger rule that went into effect in January.

Congressional Review Act resolutions to nullify the Consumer Financial Protection Bureau's overdraft and larger participant rules now go to President Trump for his signature.

Senate Banking Committee Chairman Tim Scott said Jonathan McKernan's final confirmation vote to lead the Consumer Financial Protection Bureau is "imminent."

As President Donald Trump's tariffs whipsaw bank shares and threaten recession, the House Financial Services Committee chairman told a large room of bankers that efforts like repealing the small business data collection rule and passing legislation to Congressionally appropriate the Consumer Financial Protection Bureau are among his priorities.

Bankers are growing frustrated as President Donald Trump's trade policy causes turmoil in markets and confusion for clients. But banking trade groups in Washington — at least publicly — are remaining silent.

Jonathan Gould, President Donald Trump's pick to lead the Office of the Comptroller of the Currency, passed through the Senate Banking Committee on a party-line 13 to 11 vote.

Democratic lawmakers turned the stablecoin markup into a marathon event, leading off with amendments that would have addressed concerns about conflicts of interest between elected officials like President Donald Trump and stablecoin oversight.

House Republicans, led by House Financial Services Committee Chairman French Hill, R-Ark., outlined their priorities for the Trump administration's banking agenda in a series of letters to key regulators.

The Treasury Department told the OMB that all 11 programs in the CDFI Fund are statutorily mandated. The White House said "no final decisions have been made" about the programs.

The Senate Banking Committee considered the nomination of Paul Atkins to lead the Securities and Exchange Commission, whose track record on deregulation in the lead up to the 2008 financial crisis was questioned by Democratic lawmakers. Lawmakers also considered the nomination of Jonathan Gould to lead the Office of the Comptroller of the Currency and Luke Pettit for a key bank regulatory role at Treasury.

The Senate voted 52-48 to overturn the Consumer Financial Protection Bureau's rule that would cap overdraft fees at many banks at $5.

The Senate Banking Committee will consider the nominations of Jonathan Gould to lead to Office of the Comptroller of the Currency, Paul Atkins to lead the Securities and Exchange Commission and Luke Pettit as Assistant Secretary of the Treasury Thursday morning.

Rep. Andy Barr, R-Ky., who chairs the House Financial Services Subcommittee on Financial Institutions, called the CFPB under the Biden administration and former Director Rohit Chopra an "Orwellian predator."

Wall Street veteran Frank Bisignano pledged at a Senate Finance Committee hearing that he doesn't plan to privatize Social Security.

The bipartisan co-chairs of the Community Financial Development Institution caucus sent a letter urging the Trump administration to continue supporting the CDFI Fund after it was slated for cuts in a recent executive order.

President Donald Trump's executive order severely limiting the Treasury's Community Development Financial Institution Fund has thrown the industry into confusion as financial companies try to quantify the damage.

A much-anticipated stablecoin bill advanced to the full Senate in an 18-6 vote, giving it a promising path to pass with 60 votes. But amendments banks favored were shut out of the markup.

As the Senate Banking Committee meets to consider landmark stablecoin legislation today, the banking industry is beginning to wake up to what some experts say is an existential threat.

A federal judge said she is inclined to issue a preliminary injunction to stop the Trump administration dismantling the Consumer Financial Protection Bureau.