Ian McKendry

The Senate Banking Committee is expected soon to release a bipartisan bill that would significantly reshape the housing finance market, but key issues remain unresolved.

The Dodd-Frank Act gets more attention when it comes to regulatory burden, but the Bank Secrecy Act and other anti-laundering statutes arguably present even more of a compliance challenge for bankers.

Twenty-two trade groups, including seven financial trade groups, sent a letter to House lawmakers calling for new data security standards that would preempt state law.

The Senate Banking Committee's first hearing of 2018 will focus on anti-money-laundering efforts and counter terrorist financing, which could be a precursor to legislative reforms.

Rep. Emanuel Cleaver, D-Mo., has emerged as one of the most outspoken members of Congress when it comes to fintech, both embracing its potential and calling for regulatory guardrails.

The announcement Tuesday by Sen. Orrin Hatch that he will retire at the end of the year could have a ripple effect throughout the Senate, including the leadership of the Banking Committee.

The banks announced bonuses, wage hikes and charitable contributions resulting from the lower corporate tax rate enacted by Congress.

In his current position as chair of the National Credit Union Administration, J. Mark McWatters has publicly advocated for cutting back the CFPB’s oversight of the credit union industry.

A regulatory relief package is likely to come out of the Senate in the new year, and lawmakers could follow it up with a housing finance reform push. But the midterm elections could cause some reform initiatives to grind to a halt.

The announcement Thursday that Treasury Secretary Steven Mnuchin and Federal Housing Finance Agency Director Mel Watt agreed to let Fannie Mae and Freddie Mac each build a $3 billion capital buffer avoided a potential crisis.