Stacy Kaper

Barney Frank's patience is tested at covered bonds hearing; Jim Bunning unimpressed by Time's "Person of the Year" pick; and more.

In a letter to Geithner, the Michigan Democrat said that the Treasury needs to tweak its criteria and provide assistance to community banks to get credit flowing to small businesses.

The House Financial Services Committee debated Tuesday how to set up a covered-bond market in the U.S., including whether to establish an explicit backstop, but it was unclear how fast the panel was planning to move on the issue.

WASHINGTON — House leaders were forced to significantly weaken regulatory reform legislation to get it passed last week, and the Senate is likely to water it down further.

House leaders were forced to significantly weaken regulatory reform legislation to get it passed last week, and the Senate is likely to water it down further.

The House passed a regulatory reform bill 223 to 202 on Friday that would significantly reshape the financial framework.

The House approved dozens of changes late Thursday to the financial regulatory reform bill, including measures to enhance the Fed's power to break up large, complex firms and cap a potential debt guarantee program by the Federal Deposit Insurance Corp.

WASHINGTON — The House approved dozens of changes late Thursday to the financial regulatory reform bill, including measures to enhance the Federal Reserve Board's power to break up large, complex firms and cap a potential debt guarantee program by the Federal Deposit Insurance Corp.

The deal would let the OCC keep broad leeway to preempt consumer protection laws — a far cry from the Obama administration's initial effort to eliminate preemption entirely.

After several hours delay on Wednesday, House leaders conceded to pressure by moderate Democrat Rep. Melissa Bean, of Illinois, to broaden proposed powers of the Office of the Comptroller of the Currency to preempt state consumer protection laws for national banks.

WASHINGTON — After several hours delay on Wednesday, House leaders conceded to pressure by moderate Democrat Rep. Melissa Bean, of Illinois, to broaden proposed powers of the Office of the Comptroller of the Currency to preempt state consumer protection laws for national banks.

As the House was expected to begin debating a massive regulatory reform bill Wednesday, Republicans offered a host of reasons to oppose the legislation while moderate Democrats endorsed amendments to weaken its impact.

As the House begins discussion of a massive regulatory reform bill tomorrow, preemption and haircuts for secured creditors are likely to provoke intense debate.

The House Financial Services Committee plans to hold a hearing today on the proper role of the private sector and the government in dealing with the continuing rash of foreclosures.

House Financial Services Committee members are working on changes to the regulatory reform package due for a critical vote next week that would address some of the banking industry's major concerns.

Housing and Urban Development Secretary Shaun Donovan asked Congress for a bigger stick to wield with large lenders that originate Federal Housing Administration mortgages around the country. Make that two bigger sticks.

The House Financial Services Committee approved 31 to 27 on Wednesday a bill that would give the Federal Reserve Board the power to oversee systemically important firms and allow the FDIC to resolve them if they fail.

The House Financial Services Committee approved 31 to 27 on Wednesday a bill that would give the Federal Reserve Board the power to oversee systemically important firms, and allow the Federal Deposit Insurance Corp. the ability to resolve them if they fail.

Under legislation expected to be approved by the House Financial Services Committee today, the largest firms would pay in myriad ways that could impede their growth, reduce their liquidity and drive up their costs, according to observers.

Ron Paul wins award for legislative tenacity; things get awkward at Bank of America hearing; The Onion asks the "man on the street" about overdraft protection.