Ian McKendry

Any money laundering investigation could ultimately entangle banks that have done business with President Trump and his various firms over the years.

Lawmakers from both sides of the political aisle voiced their support Wednesday for keeping credit unions' federal tax exemption intact even as the Trump administration and Congress prepare to make sweeping changes to the tax code.

A vote on a House plan to replace the Dodd-Frank Act may not happen as quickly as originally expected due to limited floor time and other legislative priorities, such as health care reform, that are likely to take precedent.

In President Trump’s first joint address to Congress, he listed several top priorities, including repealing Obamacare and enacting tax reform, but made no mention of reforming the Dodd-Frank Act.

Lawmakers voiced bipartisan support for regulatory relief, arguing that small financial institutions have had to bear the brunt of too many regulations.

Democratic lawmakers in favor of legitimizing marijuana business are not being discouraged by the Trump administration's comments indicating it may pursue a federal crackdown in states where pot is legal.

President Trump signed an executive order Friday requiring every agency to establish a task force focused on eliminating unnecessary regulations.

The Consumer Financial Protection Bureau's arbitration rule will likely be overturned by Congress if the agency moves ahead with finalizing it.

Rep. Blaine Luetkemeyer, the chairman of the House financial institutions subcommittee, said Wednesday that he plans to reintroduce a bill that would change the way banks are designated as systemically important.

Senate Banking Committee Chairman Mike Crapo said Wednesday that although he plans to begin working on housing finance reform and changes to the Dodd-Frank Act, the poor relationship between Democrats and Republicans will hinder any progress.