House Financial Services Committee

In her first four and a half months, Kathy Kraninger met with lawmakers more than twice as often as her predecessor, but her schedule demonstrates willingness to meet with industry and policy stakeholders from various camps.

Bills to fix the National Flood Insurance Program and combat the money-laundering risks from shell companies enjoyed bipartisan support during a House Financial Services Committee debate.

Recent legislation zeros in on letting financial institutions serve cannabis businesses in states where the substance is legal, but banks may stay on the sidelines if the federal ban on pot remains in place.

The bipartisan House effort to delay the Current Expected Credit Loss standard comes less than a month after Republican senators introduced a similar bill.

The good news for financial firms is Congress has moved closer to reforming anti-money-laundering rules. But left behind in the effort is the reform most coveted by the industry.

Options include legislation to study the risk of leveraged loans, more aggressive action by the Financial Stability Oversight Council and additional capital buffers. Policymakers may also choose to do nothing.

Lawmakers waded into a growing debate about the threat posed by corporate credit risk.

With the Trump administration appearing willing to shake up Fannie Mae and Freddie Mac without Congress, Reps. Lacy Clay, D-Mo., and Sean Duffy, R-Wis., said legislative action should be a priority.

All Democrats supported the bill focused on the decisions of former acting CFPB Director Mick Mulvaney, while all Republicans opposed it.

Congress is considering multiple bills that could ease suspicious activity reports and beneficial ownership requirements, though its unclear how much support each measure has.