Regulation

In his first public policy speech as director of the Federal Housing Finance Agency, Mark Calabria stressed that Fannie Mae and Freddie Mac will have to raise significant capital via a public offering and take other steps in order to escape government control.

Two senators, a Republican and a Democrat, have revived legislation that would prohibit Congress from using certain fees collected by Fannie Mae and Freddie Mac to offset unrelated government spending.

The agency launched a review to gauge whether the regulation requiring consumers to opt in to overdraft protection “should be amended or rescinded” to minimize the effects on smaller financial institutions.

The bank plans rollout of a global cash management business; the lead Democrat on the Senate Banking Committee “not optimistic” about privatization.

The forces reshaping small-business lending are also leading to “a moment of reckoning” for small banks, says former SBA head Karen Mills.

Lawmakers are taking a closer look at the company’s data collection practices and its work on cryptocurrency payments, raising the possibility of more action down the line.

Brian Johnson, a Republican political appointee at the CFPB, has been named the agency's deputy director, the No. 2 job behind Director Kathy Kraninger.

The agency launched a review to gauge whether the regulation requiring consumers to opt in to overdraft protection “should be amended or rescinded” to minimize the effects on smaller financial institutions.

The ranking Democrat on the Senate Banking Committee says he wants answers from the Financial Stability Oversight Council on efforts to address corporate debt risks.

Manuel Alvarez, who became commissioner of the Department of Business Oversight on Monday, is the former general counsel and chief compliance officer at the online lender Affirm.