Victoria Finkle

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.

The House Financial Services Committee wrestled with concerns over "too big to fail" on Wednesday, pressing current and former regulators, including Richard Fisher and Sheila Bair, on how the Dodd-Frank Act could be improved to prevent future bank bailouts.

Sens. Bob Corker and Mark Warner on Tuesday introduced their much-discussed proposal for reforming the mortgage finance market. The effort has continued to win plaudits from fellow lawmakers, regulators and the industry.

Senate Banking Committee members pressed regulators Tuesday about the extent of industry efforts to gain greater flexibility in modifying or delaying repayment of troubled student loans.

WASHINGTON — Sens. Bob Corker, R-Tenn., and Mark Warner, D-Va., are scheduled to introduce their highly anticipated bill to reform the mortgage finance system on Tuesday, a spokeswoman from Warner’s office confirmed Monday night.

WASHINGTON — The House and Senate banking panels are hosting several eagerly anticipated hearings this week, including a regulatory showdown over "too big to fail" and a confirmation hearing for Rep. Mel Watt, D-N.C., to head the Federal Housing Finance Agency.

Sen. Elizabeth Warren is turning up the heat on the Federal Home Loan Banks for offering cheap financing to private student loan provider Sallie Mae.

WASHINGTON — Republican lawmakers are calling on the Consumer Financial Protection Bureau to explain its rationale behind new fair lending guidelines for auto lenders.

WASHINGTON — Sen. Sherrod Brown, D-Ohio, is asking regulators to provide better oversight of independent consultants hired by financial institutions after the state of New York cracked down on Deloitte Financial Advisory Services earlier this week.

A prominent group of policymakers from across the political spectrum has unveiled a detailed proposal to reform the mortgage finance system that includes many common elements found in pending Senate legislation.

Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, is asking for an investigation into claims that Bank of America purposefully delayed borrowers from entering the Home Affordable Modification Program.