Political Risk

The Republican proposal would bring the CFPB under congressional appropriations and curb several of its regulatory powers.

A continuing resolution to fund the government through mid-December would prevent the White House from blocking grants — including some in the banking sector — to states and municipalities that voted against President Donald Trump.

As prospects for the CLARITY Act dim, some agencies are moving to develop their own crypto-related frameworks, but questions remain about how those rules will affect the banking sector and how durable they will be.

State races — including governorships and attorney general contests — are more important for the banking industry as more states pick up consumer enforcement slack and pass aggressive legislation on fees.

A federal judge Wednesday said the Department of Housing and Urban Development failed to justify a sharp overhaul of a long-standing fair-housing grant program.

Federal Reserve Gov. Lisa Cook pushed back against the Trump administration's second attempt to remove her from the central bank over unproven allegations of mortgage fraud.

Banking industry groups are backing vulnerable incumbents as Democrats target vulnerable GOP-held seats. The trajectory of near-term financial services policy and oversight hangs in the balance.

Democrats' chances of flipping the upper chamber were long going into the campaign season but have improved in recent weeks. Here are some of the key individual races that will affect bankers the most.

A group of community development financial institutions are asking a federal court in California to compel Treasury to disburse funds from the CDFI Fund before they expire in September.

President Trump lobbied again for Congress to pass the CLARITY crypto market structure bill, but paths toward this Congress doing so are treacherous with few legislative days left.

Democratic Sens. Ruben Gallego, Ariz., and Angela Alsobrooks, Md., signed on to the bill, signaling a hardening of their position on an ethics provision in the CLARITY market structure bill.

President Donald Trump's administration has reportedly sent a letter to Federal Reserve Gov. Lisa Cook detailing his reasons for finding cause to remove her from office after the Supreme Court ruled in her favor earlier this summer.

In a letter to the Federal Reserve and Office of the Comptroller of the Currency, Sen. Elizabeth Warren, D-Mass., questioned the decision to allow a Texas bank to change charters while under a cease-and-desist order related to money-laundering controls.

The Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency issued a joint notice of proposed rulemaking for the Community Reinvestment Act that would tailor requirements for smaller institutions and monitor which groups receive community development grants.

As a vote to invoke cloture on the CLARITY Act looms in the Senate, lawmakers are considering how and whether to offer banks' preferred language on stablecoin yield on the Senate floor.

Brian Johnson, President Trump's nominee to lead the Consumer Financial Protection Bureau, navigated a somewhat contentious Senate Banking Committee hearing dominated by Democratic opposition but without giving away specific plans he has for the agency.

The Senate Banking Committee will hold a hearing Thursday on whether to confirm Brian Johnson, a former Capital One executive and deputy director of the Consumer Financial Protection Bureau in Trump's first term to lead the agency permanently.

Draft cryptocurrency market structure legislation published Wednesday includes an ethics agreement that falls short of what Senate Democrats want and stablecoin yield language that banks have already disavowed.

The package of banking measures will need 60 votes — including a number of Democrats — to pass the Senate on a tight time frame ahead of November's elections. But the bipartisan House vote signals that future work on the issues is possible.

House Republicans floated discussion legislative drafts aimed, in part, at strengthening the Federal Home Loan Banks' role providing liquidity to the financial system.