Mitch McConnell

The Senate Banking Committee chair will work with the heads of other panels in overseeing the $2 trillion stimulus package that Congress passed last month.

A trade group says suspending so-called beneficial owner rules would help financial institutions make more small-business loans through the Paycheck Protection Program.

The maneuver could delay efforts by Senate Majority Leader Mitch McConnell, R-Ky., and Treasury Secretary Steven Mnuchin to add another $250 billion to the Paycheck Protection Program.

Congressional proposals could expand Federal Reserve liquidity support, delay a new credit loss accounting standard, provide certain accounts with unlimited deposit insurance and more to help businesses and consumers reeling from the coronavirus outbreak.

Democrats’ investigation of President Trump has darkened the horizon for legislative activity in Washington, but prospects for a pair of bipartisan measures backed by the industry are surprisingly bright.

Protections for industrial hemp were added to a cannabis banking bill that is expected to get a full House vote next week.

Sen. Mitch McConnell had contacted the National Credit Union Administration about the troubles Kentucky hemp farmers had in accessing capital.

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.

Banks hoping to make working with the cannabis industry easier saw a positive sign this week when Congress removed the prohibition on a less potent substance.

Readers sound off on fintechs entering the student loan market, the FDIC’s brokered deposit rules and a heated debate over the new CFPB leader.

The House Financial Services Committee chairman said "so far, the United States Senate has done nothing" on a bill that passed the House with over 400 votes.

Majority Leader Mitch McConnell filed a motion for cloture on the nomination of Kathy Kraninger to run the agency, setting up a potential vote later this month.

At least six Trump administration picks to fill financial posts are still pending, but the bitterly partisan divide over Judge Brett Kavanaugh has taken up most of the energy in Congress.

The tightening of Senate races in Republican strongholds has raised the prospects of Democrats having even more influence on regulatory appointments and the legislative agenda.

With the recent focus on capital formation bills, lawmakers appear to be putting their Dodd-Frank angst aside.

Attorneys general from 21 states say the measures would undermine their ability to enforce consumer protection laws.

The soon-to-be-retiring chair of the House Financial Services Committee said Senate leaders have made a "commitment" to consider more changes.

Speaker Paul Ryan said the House will vote on Dodd-Frank reform legislation that originated in the Senate, but additional House reg relief measures are still on the table.

On one hand, banks could face regulatory pressure to restrict services to the firearms industry. But banks that take a strong stand also risk the wrath of GOP lawmakers opposed to such restrictions.

Four financial trade associations sent a letter to Senate leaders touting the regulatory relief bill as "example of how our elected leaders can advance necessary solutions by working together and across the aisle."