Neil Haggerty

A Financial Services subcommittee planned by Democrats to root out discrimination and expand financial inclusion could put institutions on the hot seat, but it could also foster regulatory relief.

A Financial Services subcommittee planned by Democrats to root out discrimination and expand financial inclusion could put banks on the hot seat, but it could also foster regulatory relief.

Sens. Kevin Cramer, R-N.D., and Martha McSally, R-Ariz., will fill the two GOP vacancies in the new Congress.

With a divided Congress in place, policymakers will face challenges in passing major financial legislation this year. But there are still a number of core issues set to be debated.

The announcement rescinded the agency's earlier guidance issued to industry partners to suspend sales operations as a result of the current lapse in funding from Congress.

Lawmakers and industry groups were caught off guard when FEMA said it wouldn't issue flood insurance policies during the government shutdown, despite an extension passed last week.

The expected incoming chair of the House Financial Services Committee told the former acting CFPB chief that he will still be the target of a congressional inquiry despite no longer leading the agency.

Banks hoping to make working with the cannabis industry easier saw a positive sign this week when Congress removed the prohibition on a less potent substance.

Former CFPB chief Mick Mulvaney had claimed the agency could not supervise firms for Military Lending Act compliance, but lawmakers want his successor to go in a different direction.

As Congress moves closer to its Dec. 21 deadline to keep the government funded, the outlook for more financial services regulatory relief continues to worsen.