Stacy Kaper

Rep. Spencer Bachus, the lead candidate to chair the House Financial Services Committee, faces a fight with a fellow Republican.

Spencer Bachus, who just months ago was seen as unlikely to assume the top spot on the House Financial Services Committee if Republicans won control of the House, is now the odds-on favorite.

Republicans have grand ambitions for what they plan to accomplish if they, as expected, win control of the House in Tuesday's election, but their victory is more likely to lead to gridlock than action.

Small downgrade of Barney Frank's reelection chances makes waves in the blogosphere; an aide to Sen. Bob Corker is returning to lobbying; and more.

Sen. Mark Warner, a member of the Senate Banking Committee, called on President Obama to set up a task force to examine the foreclosure paperwork issue that has stalled thousands of foreclosures and raised questions about their legality.

The Massachusetts Democrat continues to hold a sizable lead in polls, but his opponent, Republican Sean Bielat, argues that public anger over the economy, anti-incumbent fervor and Sen. Scott Brown's surprise victory this year prove he has a shot at beating Frank.

Arguably the most outspoken, staunchly conservative member of the House Financial Services Committee, Rep. Jeb Hensarling appears eager to help shape the panel's agenda next year if the Republicans seize the House in next week's elections.

Unlike other House Republicans, Rep. Ed Royce is not looking to repeal outright the Dodd-Frank regulatory reform law, but the California lawmaker is likely to try and clip its wings.

Rep. Maxine Waters announced plans for a hearing on the foreclosure paperwork debacle that has raised questions about the legality of thousands of foreclosures nationwide.

If Rep. Scott Garrett has his way next year, the conservatorship of the GSEs will be unraveled and the new consumer protection bureau will be repealed.

CFTC Commissioner channels his inner pop star when discussing reg reform; Daily Show host takes banks to task over robo-signing docs; comings and goings at OCC, Freddie; and more.

As questions have mounted about the legality of thousands of foreclosures across the country, lawmakers have ratcheted up the rhetoric in criticizing lenders and urging them to take actions to help homeowners. But a key issue remains: What will Congress do about it?

Senate Banking Committee Chairman Chris Dodd backed the Obama administration Tuesday in its opposition to a blanket foreclosure moratorium, despite the allegations of faulty paperwork that prompted several lenders to suspend foreclosures in 23 states and Bank of America Corp. to halt them nationwide.

Senate Majority Leader Harry Reid joined the growing group of lawmakers Thursday to call for a foreclosure moratorium after allegations that lenders including Bank of America Corp. and JPMorgan Chase & Co. relied on lax procedures and improper paperwork in seizing homes.

WASHINGTON — Sen. Tim Johnson, who is expected to take the gavel of the Senate Banking Committee next year, said he plans to move cautiously, not quickly, to reform the housing finance system.

Sen. Richard Shelby, the lead Republican on the Senate Banking Committee, called Wednesday for an investigation into improper foreclosure practices at banks.

House Speaker Nancy Pelosi other California Democrats are demanding a federal investigation into improper foreclosure practices.

Sen. Olympia Snowe is calling on Elizabeth Warren to provide specifics on how she plans to handle small-business considerations, including any revamp of mortgage disclosures, in carrying out her role to start up the Consumer Financial Protection Bureau.

Sen. Chris Dodd gets his share of plaudits as retirement looms; shaky first day in class for John Walsh; progress made on appointing Fed governors, FHFA watchdog.

Lawmakers raised concerns Thursday about whether the Consumer Financial Protection Bureau would attempt to write and enforce new rules without a Senate-confirmed director in place.