Senate Banking Committee

The Senate Banking Committee passed a housing package that includes funding for manufactured and other kinds of housing, but also includes an appraisal provision that mortgage bankers oppose.

A bipartisan alliance backing stablecoin legislation shattered in the U.S. Senate.

The Financial Integrity and Regulation Management Act would stop prudential regulators from writing rules or guidance that involve any use of reputational risk in supervision.

Sen. Tim Johnson, a former three-term senator and five-term U.S. representative for South Dakota, died after complications from a recent stroke.

Investing in Main Street Act has passed the House three times with overwhelming majorities but has failed to gain traction in the Senate. Backers, including banks that invest in the funds, hope to flip the script with a third version.

Acting Federal Deposit Insurance Corp. Chairman Martin Gruenberg was described even by Republicans as well qualified and experienced, but took heat for a year-old drama that led to the departure of the agency's former chairman.

The Federal Deposit Insurance Corp. said its actions are "consistent with longstanding legal authorities to ensure that banks engaging in crypto-related activities are doing so in a safe and sound way that protects consumers."

Sen. Pat Toomey, the top Republican on the Banking Committee, is demanding answers from the Federal Reserve Bank of Kansas City about the status of a Fed master account for the Colorado fintech firm Reserve Trust, which had figured in a recent confirmation controversy.

The Ohio Democrat and chair of the Senate Banking Committee acknowledged banks’ existing privacy obligations under the Gramm-Leach-Bliley Act but argued that the 1999 law did not go far enough to address the privacy landscape of 2022.

JPMorgan Chase and Goldman Sachs Group are being pressed to hand over extensive information on clients trading Russian debt, as U.S. Sen. Elizabeth Warren and Rep. Katie Porter expand efforts to pry into whether Wall Street is profiting on the invasion of Ukraine.

Senate Democrats plan to hold votes to confirm Lisa Cook’s nomination to be a Federal Reserve governor on Tuesday, they announced Monday night.

Democrats face the brunt of this year’s tough elections among the key financial committees in Congress, but Republicans are retiring in greater numbers.

Senate Banking Committee Chairman Sherrod Brown said Wednesday that the Senate would wait to confirm President Biden’s Federal Reserve picks until the return of Democrats recovering from the coronavirus.

Senate Majority Leader Chuck Schumer took a procedural step before the Senate leaves for a two-week break seeking to limit debate on Lael Brainard’s nomination for vice chair, as well as Lisa Cook’s nomination for Fed governor when lawmakers return. 

Senate Banking Chairman Sherrod Brown said he and Majority Leader Chuck Schumer are pushing to confirm all four Federal Reserve nominees this week, but doing so will require Republican cooperation.

Senate Banking Chair Sherrod Brown said Thursday he expects a Senate vote next week to confirm President Biden’s Federal Reserve nominees, though the timing may be affected by GOP opposition to Lisa Cook, who would be the first Black woman on the Board of Governors.

Senate Banking Committee Chairman Sherrod Brown and other Democratic senators called on Thursday for regulators to investigate Wells Fargo’s treatment of Black homeowners seeking to refinance mortgages during the pandemic. 

All five of the Biden administration's nominees received enough votes to secure passage to the Senate floor. Chair Sherrod Brown of Ohio called the moment "historic."

Sarah Bloom Raskin’s nomination to be Federal Reserve vice chair of supervision has been dealt another blow as key Senate Democrat Joe Manchin suggested President Biden’s other four central bank nominees move forward without her. 

The White House is rejecting Republican demands to split up its nominees to the Federal Reserve, with President Biden’s spokeswoman telling GOP lawmakers to show up and vote no on Sarah Bloom Raskin rather than further stalling consideration.