Neil Haggerty

The federal banking and credit union agencies want input about how financial institutions use artificial intelligence for credit underwriting and other purposes, and about whether additional regulatory guidance is needed.

Sen. Pat Toomey, R-Pa., warned the regional Federal Reserve bank that its papers about environmental, social and corporate governance policies hurt its ability to stay neutral on partisan issues.

Democrats have proposed a Congressional Review Act resolution to strike down the OCC rule, arguing it enables "rent-a-bank" schemes.

Treasury Secretary Janet Yellen said she prefers to have the Financial Stability Oversight Council flag hazardous activities by nonbanks rather than subject specific firms to heightened supervision.

Democrats want regulators to actively protect the financial system from losses tied to extreme weather events, while Republicans say climate policy is "beyond the scope" of their mission.

The Ohio Democrat and chairman of the Senate Banking Committee told a virtual gathering of the American Bankers Association that FedAccounts, a plan opposed by industry trade groups, will lead to more bank customers.

With a steady stream of Senate hearings held on the racial wealth gap and inequities in the financial system, the new chairman has set a consumer-focused agenda that leans further left than even past Democratic chairs.

The bill introduced by Rep. Patrick McHenry, the top Republican on the Financial Services Committee, would expand CFPB authority to the credit reporting industry and require that certain adverse information be removed from a consumer’s credit history.

The nomination of Gary Gensler as chairman of Securities and Exchange Commission will now be voted on by the full Senate, but Rohit Chopra's nomination to head the Consumer Financial Protection Bureau remains held up in the Senate Banking Committee.

The House Financial Services chair joined other Democrats to warn the federal agencies against further easing of the supplementary leverage ratio, a key capital requirement for large banks.

The backing from the Emergency Capital Investment Fund is meant to help financial institutions direct aid to lower-income communities struggling in the pandemic.

As the Federal Reserve continues to explore issuing a digital U.S. dollar, the Biden administration and key congressional leaders are endorsing the idea as a way to expand banking access for underserved consumers.

Rohit Chopra, President Biden's pick to lead the Consumer Financial Protection Bureau, told a Senate panel he would do more to protect veterans from foreclosure, empower consumers to dispute data on their credit records and crack down on student loan servicers that aren't helping troubled borrowers.

The Banking Committee will hold a confirmation hearing on March 2 for Rohit Chopra and Gary Gensler. They are the administration's picks, respectively, to lead the Consumer Financial Protection Bureau and the Securities and Exchange Commission.

Election-reform advocates say the American Bankers Association and other organizations should take into account candidates’ commitment to democracy, not just their stances on issues, in directing donations.

Transportation and clean-energy upgrades could create significant new lending opportunities, but some observers fear the government will foot the bill through a special tax on banks and other financial firms.

House Financial Services Committee members were at odds over whether to have support for homeowners and the State Small Business Credit Initiative, both included the $1.9 trillion stimulus plan, expire when the pandemic ends or later.

Sen. Richard Shelby. R-Ala., served two stints as head of the committee. He announced Monday that he will not run for reelection when his term expires.

Banks weren't involved in the trading frenzy, but some observers say the regulatory response should address risks to all financial institutions.

The Senate’s confirmation of Treasury Secretary Janet Yellen was notably bipartisan. But experts say congressional Republicans are poised to give nominees for the federal banking agencies heavier scrutiny.