Policy & Regulation

The former CFPB director won the state’s Democratic primary Tuesday night, and his tenure at the agency is likely to be a key issue in the general election.

The Senate Banking Committee will consider the nominations of Richard Clarida and Michelle Bowman to the Federal Reserve next week.

The House affirmed this week that it would move forward with a vote on a Senate bill overhauling parts of Dodd-Frank, but how far lawmakers push additional relief proposals is still unclear.

When EMV chip cards were launched in the U.S., the initial fear in the security and payment industries was that fraud would migrate to e-commerce. But the migration has actually moved further along to the more lucrative venue of real-time Fed-mandated ACH payments.

Ryan, McConnell say they have a deal on a bipartisan Dodd-Frank rollback; New York won more than $5 billion in settlements from big banks under the former AG.

Bill supporters say the guidance — which held indirect auto lenders liable for unintentional discrimination at partner dealerships — violated Dodd-Frank, but consumer advocates say the legislation would expose minority borrowers to mistreatment.

The administration is prolonging a decision on a permanent director for the agency to keep the interim chief in place until year-end or longer.

Several tough critics of the financial industry are said to be on the shortlist to replace New York's attorney general.

Subordinated debt issuance, which took a back seat as bank stocks surged, could regain popularity as growth-minded banks become leery of market uncertainty.

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.