WASHINGTON — Sen. Elizabeth Warren, D-Mass., and Rep. Elijah Cummings, D-Md., are urging the Federal Reserve Board to hold a formal vote on enforcement actions.

In a letter dated Feb. 11, the lawmakers asked Fed Chair Janet Yellen to reassess the agency's delegation rules and mandate that the central bank be more directly involved in major consent orders. The Fed's delegation of authority currently allows board members to enable staff to enter into consent agreements on their behalf.

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