Neil Haggerty

Financial institutions’ legislative agenda was already a low priority in Congress. Lawmakers’ efforts to stabilize the economy have shifted attention even farther away from bills that would benefit the industry.

Sen. Sherrod Brown of Ohio, the top Democrat on the Banking Committee, said financial institutions "need to be investing in their communities right now, not investing in their CEOs’ stock portfolios.”

The bank’s former chair expressed regret over comments attributed to her in a House report, while Democrats and Republicans butted heads over whether the hearing was necessary.

House Democrats maintained their criticism of the bank during Charlie Scharf's first hearing, but Republicans suggested it is on better footing now that many top leaders have been replaced.

Sen. Mark Warner led a group of Democratic senators in calling on bank, credit union and GSE regulators to give detailed instructions on helping consumer and commercial borrowers hurt by the COVID-19 outbreak.

The House Financial Services Committee is still planning to have former Wells Fargo board members Betsy Duke and James Quigley testify after they announced their resignations.

The House Financial Services Committee is expected to question two of the bank's former board members, raising public scrutiny to a new level for bank directors.

Most states have some kind of pricing limit on consumer loans. But proposals for a national usury law divide even Democrats, some of whom are concerned about restricting credit.

While the Democratic debates have had little discussion about financial policy, the remaining presidential contenders have taken noteworthy positions on regulatory relief, CDFI funding and postal banking, among other issues. Here’s a rundown.

Policymakers could recommend banks establish backup facilities and the Federal Reserve could stand ready with emergency loans to limit economic shock waves.

The Vermont senator’s rise to front-runner status for the Democratic nomination worries many industry watchers, but their opinions diverge on his electoral chances and whether a Sanders presidency would pose a direct threat.

The Massachusetts senator and presidential candidate sent a letter to CEOs of five of the largest U.S. banks asking about their response to the outbreak.

Sens. Pat Toomey of Pennsylvania and Richard Shelby of Alabama had been among a handful of Republicans who had expressed uneasiness with Judy Shelton's views on monetary policy.

While the Democratic debates have had little discussion about financial policy, the remaining presidential contenders have taken noteworthy positions on regulatory relief, antitrust rules and bankruptcy reform, among other issues. Here’s a rundown.

Rep. Blaine Luetkemeyer, R-Mo., said Congress has "got to be pushing back" against the Current Expected Credit Losses standard, while Rep. Steve Stivers, R-Ohio, indicated that not all Republicans view the cannabis banking issue the same way.

At a credit union conference, Rep. Blaine Luetkemeyer, R-Mo., said Congress has "got to be pushing back" against the Current Expected Credit Losses standard, while Rep. Steve Stivers, R-Ohio, indicated that not all Republicans view the cannabis banking issue the same way.

Deputy Director Brian Johnson spent more than two years serving under two separate CFPB directors. He will become a partner at Alston & Bird LLP next month.

The agency's director said both steps will come as part of an ongoing review of agency rules and show her "commitment under the law to be effective and evidence based” in providing clarity to stakeholders.

Bernie Sanders’ rise to front-runner status for the Democratic nomination worries many bankers, but their opinions diverge on his electoral chances and whether a Sanders presidency would pose a direct threat.

Years after criticizing the Dodd-Frank Act, the Democratic presidential candidate and former New York City Mayor Michael Bloomberg is now taking a page from the Elizabeth Warren playbook.