Regulation

The House Financial Services Committee is preparing to vote on legislation to modernize anti-money-laundering rules, but the latest version of the bill excludes a key provision involving the collection of beneficial ownership information.

Acting CFPB Director Mick Mulvaney had sided with two industry trade groups that sued the CFPB in April to invalidate the tough restrictions.

Republican congressmen Blaine Luetkemeyer and Steve Pearce say their new legislation would update anti-money-laundering and counterterrorism requirements for small financial institutions.

A bill moving through the California Legislature seeks to tame the largely unregulated world of online small-business lending. If passed, it would be the first of its kind nationally, but so far it has failed to satisfy either the industry or its critics.

With the question of a federal charter still looming, Treasury's last report on changes to the financial regulatory system will focus on nonbanks and new tech startups.

Mick Mulvaney is gutting the consumer watchdog, and it bodes poorly for hardworking Americans.

Legislation with bipartisan support would raise the threshold for reporting suspicious activity, a goal banks have long sought.

The agency proposed new minimum capital requirements for Fannie Mae and Freddie Mac that would only go into effect if the government ends its conservatorships.

Groups representing banks, credit unions, the housing industry and others argue in favor of a bill requiring the CFPB to issue timely guidance on its rules.

Though Mick Mulvaney has restarted the agency's data collection process, Sens. Elizabeth Warren and Mark Warner said collecting more information was the key to writing better rules.