Ian McKendry

The agencies will give eight of the largest U.S. banks an extra year to file upcoming resolution plans, and suggested they may stretch out the filing schedule on a more ongoing basis.

Under the bill, regional banks may eventually be able to shed the systemically important financial institution designation that subjects those with more than $50 billion in assets to tougher regulatory requirements.

House Democrats are lobbying for a bill to reform the way banks charge overdraft fees, but recognizing that Republicans are unlikely to take up the legislation, they are hoping the CFPB can act on its own.

While credit unions may have dodged a bullet on taxation, some in the housing industry expressed concern that the plan would double the standard deduction to $24,000 for married couples and $12,000 for individuals—a move that could dramatically lessen the impact of the mortgage interest write-off.

Some in the housing industry expressed concern that the plan would double the standard deduction to $24,000 for married couples and $12,000 for individuals—a move that could dramatically lessen the impact of the mortgage interest write-off.

Equifax observed an increasingly well-worn ritual of scandal-ridden firms by jettisoning CEO Richard Smith: apologize, promise to do better in the future, and sacrifice your top executive in the hopes it will ward off action by Congress and regulators.

Sen. Elizabeth Warren, D-Mass., is broadening her probe into the data breach to look at whether the company should have disclosed the breach sooner and if it plans to claw back compensation.

Democrats have strived to paint recent scandals at Wells Fargo and Equifax as prime examples of why a regulatory rule banning mandatory arbitration agreements should be upheld, but Republicans are not wavering in their campaign to overturn it.

The hearings before the Senate Banking Committee have high stakes for both companies, as lawmakers are expected to ask the CEOs whether they should be fired.

Lawmakers like Sen. Tim Scott may feel differently about some elements in a Senate regulatory relief bill depending on whether CFPB Director Cordray is remaining in office until his term expires in July.