Senate Banking Committee

A group of Senate Democrats have called on HUD Secretary Ben Carson to reverse his agency’s opinion that borrowers in the Deferred Action for Childhood Arrivals program are ineligible for FHA loans.

After years of largely standing on the sidelines, lawmakers are taking a closer look at whether algorithms used by banks and fintechs to make lending decisions could make discrimination worse instead of better.

There is bipartisan agreement in the Senate that Fannie Mae and Freddie Mac are "too big to fail," but some lawmakers are skeptical that a SIFI designation is appropriate.

As lawmakers meet this week to discuss artificial intelligence, they should work with regulators to create universal and workable definitions.

The speed and the bipartisan nature of the demand for an investigation into Facebook's Libra are telling, giving ammunition to those who warned the cryptocurrency space is underregulated and unsafe

Senators will examine the social media giant’s plan to offer a digital currency. House Financial Services Committee leaders have already criticized the idea.

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.

Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers.

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 top Democrat on the Banking Committee suggested the absence of data brokers at a hearing on privacy legislation was "cowardice."

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.

The legislation includes a beneficial owner requirement and steps to study the utility of industry reporting, but avoids relieving banks’ burden to file data on suspicious transactions.

The seven Democrats sought details on the Fed's response to allegations the bank suppressed suspicious activity reports on businesses tied to President Trump and Jared Kushner.

Nominated for a full term at the central bank, Michelle Bowman told senators that bankers should not fear repercussions for servicing hemp growers after the crop was legalized.

The effort to delay CECL comes a week after a House panel mounted a bipartisan attack on the new FASB standard.

Democrats pressed law enforcement on whether senior Deutsche Bank executives quashed suspicious activity reports filings related to President Trump.

The legislation faces a tougher path in the Senate where GOP leaders are reluctant to ease restrictions on what is still a banned narcotic.

Sens. Sherrod Brown, D-Ohio, and Chris Van Hollen, D-Md., called on the bank to explain a report that the private wealth management division quashed anti-money-laundering reports prepared by compliance staff.

Lawmakers are taking a closer look at the company’s data collection practices and its work on cryptocurrency payments, raising the possibility of more action down the line.

Readers consider a Senate Banking Committee investigation into Facebook's use of consumer data, weigh the value of the CFPB's complaints database, debate legislation that would require big bank executives to testify before Congress annually and more.