Victoria Finkle

The FTC released a report that said small banks continue to pull in significant revenue from interchange fees on debit cards despite fears that the Durbin amendment would hurt them as much as larger institutions.

The Senate has passed a bill that would direct the Government Accountability Office to examine the economic benefits large banks receive for being "too big to fail."

The House Democratic Caucus named six incoming freshman members of Congress to serve on the Financial Services Committee next year.

Incoming House Financial Services Committee Chairman Jeb Hensarling, R-Texas, has named his leadership team for the coming term.

Rep. Maxine Waters, who will take over as top Democrat on the House Financial Services Committee next year, is urging the Commodity Futures Trading Commission to delay implementation of certain derivatives rules set to go into effect Jan. 1.

The House is expected to vote as early as late Thursday on a package of spending cuts that would include eliminating the FDIC's ability to wind down big banks and a popular mortgage modification program.

Barney Frank is asking the Justice Department and regulators to start prosecuting more individuals involved in breaking the law at financial institutions.

Sens. Sherrod Brown, D-Ohio, and David Vitter, R-La., are planning to push for legislation authorizing a Government Accountability Office study that would estimate the value of the economic benefits large banks receive for being "too big to fail."

Lawmakers pressed a Consumer Financial Protection Bureau official Wednesday on problems with the credit reporting system raised in a major study released by the agency last week.

Senate Banking Committee Chairman Tim Johnson is pushing for a vote as early as this week on a bill that would allow the Federal Housing Administration to raise its mortgage insurance premiums to help the agency bolster is waning capital reserves.

Brian Moynihan said Friday the housing market continues to improve, but warned that a full transition to a largely privatized mortgage finance system is years, if not decades, away.

House Republicans continued their attacks on the Volcker Rule on Thursday, arguing it was unnecessary and overly complex just a day after Federal Reserve Board Chairman Ben Bernanke signaled regulators were close to finalizing it.

Dwight Fettig, the staff director of the Senate Banking Committee, will return to the private sector at yearend, while several other staffers are receiving promotions. Charles Yi, the chief counsel and deputy staff director, will succeed Fettig.

The House passed a bill by voice vote Wednesday that would exempt banks from sending out privacy notices to customers if the disclosures haven't changed from the prior year.

The House Financial Services Committee had tough questions for the Commodity Futures Trading Commission on Wednesday over its implementation of derivatives provisions laid out in the Dodd-Frank reform law.

The Senate passed two bills by unanimous consent Tuesday night involving fee disclosure requirements for ATMs and information sharing with the CFPB, paving the way for the bills to be signed into law.

The Obama administration released a statement of policy Tuesday in favor of a bill to extend the TAG program, just hours before the Senate passed a motion to limit debate on the legislation, the first procedural step towards a final vote.

The House is scheduled to vote this week on a bill that would exempt banks from sending an annual privacy notice to customers unless the disclosures have changed from a year earlier.

The Senate is scheduled to vote Tuesday on a bill that would extend a crisis-era program that guarantees certain business accounts.

Senator-elect Heidi Heitkamp may be the next in line to join the Senate Banking Committee.