Patrick McHenry

Most stakeholders agree that the Community Reinvestment Act needs to be updated, but a congressional hearing featuring the regulator leading the overhaul effort showed just how contentious the process has become.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation garnered no Republican support.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation has garnered no Republican support.

Lawmakers advanced legislation that would require banking regulators to give annual testimony to lawmakers and would mandate regular reports on cybersecurity efforts.

Regulators’ sweeping proposal to reform implementation of the Community Reinvestment Act has drawn strong opinions on both sides.

The Treasury secretary suggested a role for lawmakers in containing any fallout with financial contracts stemming from the transition to a new interest rate benchmark.

Bankers had worried about Rep. Maxine Waters' control of the Financial Services Committee, but many now say the Democrat’s working relationship with the panel’s top Republican is refreshing.

A group of 64 House lawmakers is pushing congressional leadership to incorporate premium caps and address a new methodology for assessing risk in flood insurance reform legislation.

The Corporate Transparency Act would require companies to report their true owners to the Financial Crimes Enforcement Network, removing the burden of financial institutions to collect beneficial ownership information about their clients.

The Corporate Transparency Act would require companies to report their true owners to the Financial Crimes Enforcement Network, removing the burden of banks to collect beneficial ownership information about their clients.

The legislation, sponsored by Rep. Cindy Axne of Iowa, aims to hold public companies accountable for moving jobs overseas. It won unanimous support from House Democrats but attracted only two votes from Republicans.

A hearing on legislative proposals exposed a sharp partisan divide over a regulatory plan to restrict the frequency of collection calls.

Rep. Patrick McHenry, the top Republican on the House Financial Services Committee, proposed having the central bank update Congress on measures to strengthen its own cybersecurity as well as that of institutions under its watch.

The House Financial Services Committee passed a bill that would exclude adverse credit information for consumers impacted by a government shutdown.

The bill, similar to legislation that passed the chamber last year, would permit the inclusion of items such as rent and telecom payments to help consumers build their credit profiles.

A bill by Rep. Patrick McHenry, R-N.C., would give the CFPB authority to oversee cybersecurity efforts at the credit bureaus.

Lawmakers from both parties strongly criticized Libra this week, but largely steered clear of proposals to stop it.

Democrats called on the social media company to halt its Libra project, while Republicans said Congress should keep the door open to innovation.

Members from states threatened by storms say their proposal is better for consumers than recent legislation passed by the House Financial Services Committee.

House Financial Services Committee Chairwoman Maxine Waters wants to examine the merger of BB&T and SunTrust, as well as Facebook's cryptocurrency plans.