Claire Williams

An Office of Management and Budget memo took issue with cuts to the Treasury Department and an attempt to take the Consumer Financial Protection Bureau into the congressional appropriations process.

The failures of Silicon Valley Bank, Signature Bank and First Republic brought to light the Federal Home Loan Banks' role as a 'lender of next-to-last resort.' Some critics say that the review from the Federal Housing Finance Agency should bring the system back to its original purpose of oiling the mortgage finance market. 

The group, which is led by Rep. Andy Barr, R-Ky., and includes two high-ranking Democrats on the House Financial Services Committee, says the Securities and Exchange Commission's crypto-custody proposal could encroach on banking regulators' jurisdiction.

President Joe Biden's executive order tackling artificial intelligence could reprioritize the Consumer Financial Protection Bureau's work in fair lending on artificial intelligence algorithms.

Rep. Jamie Raskin, D-Md., said that House Republican subpoenas seeking information about the finances of the Biden family cross a line in bank data privacy.

Rep. Andy Barr, R-Ky., a senior Republican on the House Financial Services Committee, said he intends to press Federal Reserve Chair Jerome Powell to refine the Basel III capital proposal before it is finalized.

The National Community Reinvestment Coalition and the American Bankers Association have sent dueling letters to the Federal Reserve over whether NCRC advocates pressured ABA member banks to denounce the ABA's litigation against the Consumer Financial Protection Bureau.

Rep. Andy Barr, R-Ky., again pressed the Federal Reserve for economic analysis of capital proposals, while Rep. French Hill, R-Ark., reintroduced a bill that would limit the Fed's ability to extend money to the Consumer Financial Protection Bureau.

The Consumer Financial Protection Bureau's Section 1071 data collection rule challenge will likely not advance past President Joe Biden's desk, and Republicans don't have the votes to overturn his veto.

The Federal Reserve, which currently faces a Supreme Court case related to the fees, will vote on a proposal next week that will likely open up a rulemaking process to lower debit card interchange fees. 

At a Senate Banking subcommittee meeting, Republican and Democratic lawmakers both promoted the mission of community development financial institutions and warned of upcoming threats to their funding and proposals to revamp the CDFI certification process.

Sen. Tim Scott of South Carolina, ranking Republican on the Senate Banking Committee, is pushing a bill to re-freeze Iranian funds made available after a Biden-negotiated hostage deal last month. Scott says the move is a response to Hamas' Oct. 7 attack on Israel.

Consumer Financial Protection Bureau Director Rohit Chopra said the CFPB is enforcing a long-dormant provision of Dodd-Frank in its advisory opinion prohibiting banks from charging fees to obtain basic account information.

Sen. Sherrod Brown, D-Ohio, chairman of the Senate Banking Committee, said that alleged union abuses should impact how regulators view corporate governance and risk management.

The high court will hear oral arguments on Oct. 3 on whether the Consumer Financial Protection Bureau's funding violates the Appropriations clause. A key issue is whether parameters can be placed around Congress' authority over the federal purse strings.

Sen. Raphael Warnock, D-Ga., was the only Democratic lawmaker to vote against the legislation, while three Republicans voted in favor.

Friedman attributes much of her success to her innate curiosity, and an ability to find small details interesting. 

As general counsel, Patterson leads roughly 1,300 attorneys and legal professionals across the bank. She was formerly the general counsel at TD Bank Group. 

The indictment of Sen. Bob Menendez, D-N.J., is inconvenient for some Democratic priorities, but unlikely to impact a cannabis banking bill up for debate in the Senate Banking Committee.

Federal prosecutors say Menendez, a New Jersey Democrat who sits on the Senate Banking Committee, accepted bribes in return for exerting political influence — including helping Fred Daibes, a small-bank executive who had been accused of loan fraud.