Neil Haggerty

Nearly a dozen Republicans joined all of the committee's Democrats in supporting the legislation, which would enable banks to serve legal marijuana businesses.

The watchdog’s report — requested by Sen. Elizabeth Warren, D-Mass., and Rep. Elijah Cummings, D-Md. — called for civil money penalty authority and better supervision to guard consumer data.

Banks and credit unions may be moving one step closer to federal legislation freeing them to serve legal pot businesses, but the path to enactment is still fraught with huge challenges.

In the second lawsuit of its kind, more than a dozen of the world's largest banks are accused of price fixing on roughly $486 billion of bonds issued by Fannie Mae and Freddie Mac.

The bill by Sens. Kevin Cramer, R-N.D., and John Kennedy, R-La., would block banks and credit unions with over $10 billion of assets from refusing service to "customers that may not share the same political values."

There’s bipartisan consensus that the conservatorships of Fannie Mae and Freddie Mac are unsustainable, but that may not be enough for lawmakers to upend the current system.

The House Financial Services panel is considering legislation making it illegal for a federal regulator to penalize a financial institution accepting insured deposits from a legal marijuana business.

The House Financial Services panel is considering legislation making it illegal for a federal regulator to penalize banks that accept FDIC-insured deposits from a legal marijuana business.

First-term Rep. Rashida Tlaib, D-Mich., has sponsored the Prevent Discrimination in Auto Insurance Act in order to prevent “undue burden” on low-income individuals seeking auto insurance.

A bipartisan group of senators is proposing legislation to require the Financial Stability Oversight Council to weigh alternatives before putting a large, complex nonbank under Federal Reserve supervision.

The 2020 presidential hopeful removed the contentious provision from a previous version of the bill that had won praise from bankers but sparked fierce opposition from credit unions.

The Financial Crimes Enforcement Network voluntarily works with tribal law enforcement on anti-money-laundering and counterterrorism initiatives, but is not currently required to do so by statute.

More than two years after Wells Fargo's consumer scandals first came to light, the congressional backlash facing the bank is bipartisan and just as fierce.

The 2020 budget would add the Consumer Financial Protection Bureau and FSOC to congressional appropriations, charge lenders for FHA upgrades and require universities to have skin in the game on student loans.

In the face of tough questioning from House members, CFPB Director Kathy Kraninger appeared mostly unfazed and tried to strike a balance between heeding concerns about the agency’s power and supporting its mission to help consumers.

The legislation comes a day before CFPB Director Kathy Kraninger is set to testify to Congress.

The effort comes more than a year after Republicans successfully blocked a CFPB rule that would have banned mandatory arbitration clauses in financial contracts.

The root of the credit reporting sector’s problems may be its dominance by a handful of big firms, lawmakers from both parties said at a hearing.

The root of the credit reporting sector’s problems may be its dominance by a handful of big firms, lawmakers from both parties said at a hearing.

Ahead of testimony by the CEOs of the major bureaus, House Financial Services Committee leaders proposed sweeping changes for the credit reporting industry and credit-score protections for furloughed government workers.