
Neil Haggerty
ReporterNeil Haggerty is the Congress reporter for American Banker. He previously was a financial regulation reporter at MLex Market Insight.
Neil Haggerty is the Congress reporter for American Banker. He previously was a financial regulation reporter at MLex Market Insight.
The North Dakota Democrat says legislation reforming Dodd-Frank needs to be bipartisan in order for banks to see real relief.
The North Dakota Democrat bucked members of her own party in pushing for a bill reforming Dodd-Frank. She faces another uphill battle in November.
The Senate approved Richard Clarida as vice chairman of the Federal Reserve on Tuesday, while two other central bank nominees still await a vote.
Before the passage of the recent regulatory relief law, only banks with assets of less than $1 billion were on an 18-month exam schedule.
Credit union groups are praising the committee's approval of Kathy Kraninger's nomination to head the Consumer Financial Protection Bureau in the face of strong Democratic opposition. Nominations for other positions also moved forward.
The committee approved the nomination of Kathy Kraninger to head the Consumer Financial Protection Bureau, despite strong Democratic opposition, as well as President Trump's picks for Ginnie Mae, the Export-Import Bank and several other positions.
Sen. Heidi Heitkamp, D-N.D., has compromised with Republicans on key issues and supported other Trump nominees, but she said Kathy Kraninger lacks enough experience to run the consumer bureau.
The senator's proposed legislation includes a ban on individual stock ownership and restrictions on government employees joining the lobbying ranks.
Rep. Emanuel Cleaver, D-Mo., says he is concerned that banks are freezing accounts of customers if they aren't providing citizenship information.
Lawmakers fear that regional banks could still get stung as the central bank implements a new law meant to ease their burden.