Neil Haggerty

The Senate bill is a huge win for the financial services industry, but there are still plenty of unresolved legislative issues of interest to banks and credit unions.

The Senate bill is a huge win for the banking industry, but there are still plenty of unresolved legislative issues of interest to financial institutions.

The bill passed by the House took a more cautious approach to relief than prior legislative proposals but has still been hailed by banking industry groups.

The CFPB policy was aimed at preventing discriminatory markups on indirect loans made by car dealers, but current acting CFPB Director Mick Mulvaney said the guidance "seemed like a solution in search of a problem."

The House affirmed this week that it would move forward with a vote on a Senate bill overhauling parts of Dodd-Frank, but how far lawmakers push additional relief proposals is still unclear.

The group made its plea in a petition, signed by over 10,000 community bank employees, urging lawmakers to quickly move a bill rather than subject the process to "further delay or inaction."

The lawmakers are calling on banks to follow the lead of Citigroup and Bank of America in limiting their business with firearms dealers in light of recent mass shootings.

Which party controls the House next year is still uncertain, but this much is clear: Someone other than Texas Republican Jeb Hensarling will hold the gavel on the Financial Services Committee.

The acting Consumer Financial Protection Bureau director should be investigated for potential Hatch Act violations following his controversial remarks at a banking industry conference, Senate Democrats said Tuesday.

Judge Dabney Friedrich ruled that the case could not proceed because the OCC has not actually granted the fintech charter to any firm.

Acting CFPB Director Mick Mulvaney told a group of bankers last week that he intends to end public access to complaints, but Sen. Elizabeth Warren and two other Democrats argue that would be a mistake.

The Treasury secretary said reforming Fannie Mae and Freddie Mac will come into focus more in 2019, when Federal Housing Finance Agency Director Mel Watt’s term will end.

Sen. Elizabeth Warren, D-Mass., is asking the CFPB’s top ethics official if the agency has taken steps to ensure its acting director, Mick Mulvaney, is excluded from matters involving banks and other firms that contributed to his campaign when he was a congressman.

The senior GOP lawmaker appeared to acknowledge concerns that expanding the bill could harm Democratic support.

On one hand, banks could face regulatory pressure to restrict services to the firearms industry. But banks that take a strong stand also risk the wrath of GOP lawmakers opposed to such restrictions.

The American Bankers Association will fund TV ads for Sen. Jon Tester, D-Mont., and Rep. Ted Budd, R-N.C., the first of several candidates the group expects to actively promote during the midterms.

Sen. Elizabeth Warren is asking acting CFPB Director Mick Mulvaney to clarify his philosophy on enforcement, provide details on the high pay for political appointees and answer other questions.

House Republicans are continuing to push the Senate to add more measures to a bill to give regulatory relief to community banks.

Rep. Blaine Luetkemeyer said Tuesday that he's interested in the panel's top spot when Chairman Jeb Hensarling retires at the end of the year.

The legislation would prohibit the CFPB from penalizing institutions that rely in good faith on guidance from the bureau.