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Lawmakers don't appear ready to relax requirements yet, but they may do so in future legislation in hopes of spurring more bank lending.August 3
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The measure would release $2 million in funding for the U.S. Postal Service to launch pilot programs to provide basic services such as checking accounts and bill payment.July 31
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Members of the Senate Banking Committee took the agency’s leader to task for eliminating underwriting requirements for small-dollar lenders, which lawmakers said has left consumers more vulnerable during the pandemic.July 29
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After the House passed a defense spending bill that included the provision ahead of negotiations with the Senate, industry representatives are optimistic Congress will finally shift the burden of reporting true-owner information from banks to their business clients.July 27
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The legislation, which has yet to pass the House, is meant to ensure coronavirus relief funds go to consumers and are not diverted to debt collectors.July 24
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The National Defense Authorization Act, approved in a vote late Tuesday, includes measures to require companies to disclose their true owners at the point of incorporation and to improve information-sharing between banks and the government.July 22
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The panel later this month will vote on the nomination of Judy Shelton, whose views on certain policy issues have met with skepticism from both Democrats and Republicans.July 10
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The lawmakers argued in a letter to the Federal Reserve that suspending dividend payouts would be the "prudent course of action," allowing banks to build their capital cushions and continue lending during the coronavirus pandemic.June 24
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The Consumer Financial Protection Bureau plans to change the definition of what constitutes a qualified mortgage from a 43% debt-to-income limit to a price-based threshold, and further extend a temporary exemption given to Fannie Mae and Freddie Mac.June 22
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Sens. Sherrod Brown and Elizabeth Warren are asking three federal agencies to reverse changes that allow banks to exclude certain items from their supplementary leverage ratio.June 22
