Ian McKendry

In order to compensate victims of the breach, Equifax is offering free credit monitoring services that include a mandatory arbitration clause, a measure Democrats were highlighting to lobby support for the CFPB's rule banning such clauses.

Senate Banking Committee Chairman Sen. Mike Crapo, R-Idaho, said he is considering holding another hearing on Wells Fargo following the bank's recent missteps.

The nominations of Randal Quarles as Federal Reserve Board vice chairman and Joseph Otting as comptroller of the currency will now head to the full Senate.

The Fed announced Vice Chairman Stanley Fischer will depart in October, giving Trump the ability to rapidly reshape the central bank and target Dodd-Frank Act rules.

The ICBA is calling on regulators to remove Wells Fargo board members and senior management after a series of scandals have plagued the bank.

The need to raise the U.S. debt limit, pass a budget, provide relief for victims of Hurricane Harvey and enact flood insurance and tax reform will dominate the remaining legislative calendar this fall.

A credit service provider agreed to exit the industry on Wednesday after a yearlong lawsuit with the Consumer Financial Protection Bureau.

Consumer Financial Protection Bureau Director Richard Cordray said his possible political ambitions did not affect the small-dollar rule, while declining to spell out if he was running for office.

The Consumer Financial Protection Bureau’s likely decision to pare back its final rule on small-dollar lending may help guard it against a congressional rollback and pave the way for bankers to return to the space.

House Financial Services Committee Chairman Jeb Hensarling, R-Texas, wrote a letter to CFPB Director Richard Cordray calling on him to clarify whether he is running for political office.