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.