Yellen's Not Out of the Hot Seat Yet

Receiving Wide Coverage ...

Shaky at best: If you're looking for definitive answers on the state of the economy, best consult your local fortuneteller.

Federal Reserve Chair Janet Yellen gave current economic conditions a mixed review before the Senate Banking Committee on Tuesday, citing "considerable uncertainty." Wall Street Journal, New York Times, Financial Times, Washington Post

The House Financial Services Committee, where she will testify this morning, is expected to "turn up the heat" with tougher questions on the Fed's regulatory regime for banks, according to the Journal.

Wall Street Journal

Fintech on the loose: The Financial Stability Oversight Council has flagged potential risks from online lending and digital currencies in its annual report on threats to the financial system.

Ready, go! Here's a rundown of what to watch when the Fed releases the results of its annual stress tests, starting Thursday.

SoFi flying high: Online lender Social Finance completed a $380 million bond offering on Tuesday — and the company said there was demand for nearly three times the amount it was looking to sell. The deal suggests that the recent Lending Club scandal has not dampened broader demand for unsecured consumer loans.

Prime time: The proportion of Americans with subprime credit scores has fallen to its lowest level in a decade, a potential bright spot for banks looking to lend without having to lower their standards.

Near miss: The Securities and Exchange Commission determined that mutual funds won't need to replace their auditors following a dispute over conflict-of-interest rules.

New York Times

Retina must contain one uppercase and one symbol: The country's largest banks are experimenting with letting customers use biometrics — including fingerprints and eye scans — instead of traditional passwords.