Claire Williams

Scott Turner, President Trump's pick to head the U.S. Department of Housing and Urban Development, faced opposition from Democrats on the Senate Banking Committee, but his nomination was nonetheless approved by a vote of 13-11.

The hedge fund manager and Trump advisor also lent support to the idea of reconsidering deposit insurance limits for some kinds of accounts, such as those used for payrolls.

Hedge fund manager Scott Bessent, President-elect Donald Trump's pick for Treasury Secretary, will appear before the Senate Finance Committee for his confirmation hearing Thursday morning starting at 10:30 am.

The chairman of the financial institutions panel of the House Financial Services Committee said his newly reintroduced bill has a considerable chance of passing with Republicans in control of both chambers of Congress and the White House.

The Supreme Court heard oral arguments in Thompson v. United States, which could decide whether the federal government can prosecute "misleading" in addition to "false" statements to the Federal Deposit Insurance Corp.

Leadership appointments and an influx of new crypto-friendly lawmakers suggest the 119th Congress could be the most fintech and crypto-friendly in years.

Rep. Bill Huizenga, R-Mich., will take the No. 2 spot on the House Financial Services Committee, while Reps. Bryan Steil of Wisconsin, Dan Meuser of Pennsylvania and Mike Flood of Nebraska are elevated to subcommittee leadership.

The Consumer Financial Protection Bureau said it would undertake a rule to regulate large participants in the personal loan market and consider a joint rulemaking with the Federal Reserve on check and ATM hold times.

Several crypto-friendly voices join the Senate Banking Committee from Nebraska and Ohio, while Democrats leave a banking policy expert off the House Financial Services Committee.

These banks are expected to draw regulatory scrutiny in the coming year.