Regulation

Democrats' recent electoral victories signal that they may be able retake the House during midterm elections next year. That could have a big impact on regulatory relief, housing finance reform and other bank priorities.

Acting Comptroller of the Currency Keith Noreika said he thinks regulators can make a case for an exemption to carve out all small banks from the ban on proprietary trading.

Wall Street and its allies in the House are trying to kill the Consolidated Audit Trail, a supercomputer that will allow regulators to detect market abuses, punish wrongdoers and better understand why markets sometimes crash.

The Fed’s new chief bank regulator wants to change “the tenor of supervision”; Ron O’Hanley, who was named president this week, will also take over as CEO by the end of 2018.

Acting Comptroller of the Currency Keith Noreika called for reopening the debate over the barrier between banking and commerce, saying there is evidence removing it could benefit small banks.

Rep. Blaine Luetkemeyer is calling on bank regulators to draw up a list of guidance going back 20 years to determine whether it should be submitted under the Congressional Review Act.

With marijuana sales set to become legal in California soon, a working group there says that a state-backed financial institution should be among the measures weighed to address the lack of banking services available to the pot industry.

The new vice chairman of supervision at the Fed said the agency will seek comment on its rules for stress tests, capital and other areas, as well as look at how fintech has impacted the industry.

CUNA’s Jim Nussle and NCUA Chairman Mark McWatters were among the big speakers at Monday’s opening session.

The companies' recently launched partnership furthers the argument that the banking and fintech industries might be better served working together rather than competing.