Victoria Finkle

Sens. Bob Corker, R-Tenn., and Mark Warner, D-Va., emphasized the bipartisan compromises the two have made in crafting their proposed overhaul of the mortgage finance system.

The Senate's approval of Richard Cordray's nomination to run the Consumer Financial Protection Bureau does more than give the agency a permanent director: it also removes Republicans' biggest bargaining chip in their longstanding push to force key structural changes at the agency.

Sen. Mike Crapo, the top Republican on the Senate Banking Committee, is asking the Government Accountability Office to examine the Financial Stability Oversight Council's process for designating systemically important institutions to ensure that it is transparent and fair.

A uniform mortgage-backed-security product, more risk sharing and help for small banks are some of the housing-finance fixes that the Mortgage Bankers Association urges regulators to make now.

Andrew Olmem, a long-time staffer on the Senate Banking Committee, has joined the law firm Venable as a partner.

Sen. Elizabeth Warren and her colleagues are working to drum up support for a new bipartisan bill that would bring back a Depression-era law separating commercial and investment banks.

Senate Majority Leader Harry Reid is weighing whether to change Senate filibuster rules if Republicans do not allow a vote on the nominations of Richard Cordray to the CFPB and six other Obama administration appointees.

House Republicans unveiled plans to unwind Fannie Mae and Freddie Mac that would largely remove the government from the housing market and restructure the FHA.

Senate Banking Committee members pressed banking officials about the significance of new capital standards at a hearing Thursday on the Dodd-Frank Act, including concerns that institutions will work around new rules and remain highly leveraged.

House Republicans grilled the Consumer Financial Protection Bureau's acting deputy director Tuesday over how the agency gathers and protects consumer data.

The House passed two financial services bills on Monday that would retain a public company's choice of external auditors and require the Financial Stability Oversight Council to study the impact of derivatives provisions under the Basel III capital standards.

The House and Senate banking panels have a packed schedule this week, returning from a weeklong holiday recess with hearings on the Dodd-Frank Act and the Consumer Financial Protection Bureau that could produce some fireworks.

Sen. Elizabeth Warren may have a reputation as the banking industry's toughest foe, but behind the scenes she's formed a growing alliance with community banks, a widespread and politically powerful group.

Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, praised regulators on Friday for their changes to the final Basel III capital standards announced earlier in the week.

Rep. Jeb Hensarling is expected to unveil new mortgage finance reform legislation this month — an effort that has virtually no chance of becoming law this year, but one that will undoubtedly shape the housing debate.

Sen. Mike Crapo, the top Republican on the Senate Banking Committee, is asking the Government Accountability Office to look into the Consumer Financial Protection Bureau's data collection efforts.

Fellow lawmakers lauded Sen. Heidi Heitkamp for a passion as strong as "battery acid" and her fluid softball swing. The Senate Banking member knows that's high praise on Capitol Hill.

Receiving Wide Coverage ...Corzine in CFTC Crosshairs: Officials filed a civil lawsuit against John Corzine, the former head of MF Global on Thursday, charging misuse of almost $1 billion in customer funds. The Commodity Futures Trading Commission complaint alleges that the former New Jersey governor and U.S. senator did more than just sit on the sidelines as the company spiraled into bankruptcy, though it's still unclear how deeply he was involved with illegal money transfers. The lawsuit suggests that Corzine was "instrumental in making decisions that put customer accounts at risk," according to the Wall Street Journal. But the New York Times says the CFTC does not accuse Corzine of signing off on the breach of customer funds or "even knowing that the wrongdoing had happened," instead focusing on the claim that he failed to "diligently supervise" the firm and "a more ambitious claim" that he is responsible for the actions of employees below him. The lawsuit also implicates one of Corzine's top lieutenants, Edith O'Brien. Meanwhile, regulators settled with MF Global — the company agreed to pay back all customer funds and fork over a $100 million fine. Wall Street Journal, New York Times, Financial Times, Washington Post

Rep. Mel Watt defended his judgment and experience with housing issues during a hearing on his nomination to head the Federal Housing Finance Agency, but it's unclear if the performance was enough to sway Republican opponents.

Former Rep. Barney Frank, who served as chairman of the House Financial Services Committee from 2007 to 2011, was presented Tuesday evening with an official portrait that will hang in the Rayburn committee room.