Governor Tim Walz, whom Vice President Kamala Harris selected as her running mate Tuesday, has a slight but progressive record on financial policy, suggesting a potential leftward shift in banking policy in a prospective Harris administration.

President Joe Biden's administration and Senate Democrats are ramping up pressure on the Federal Home Loan Bank system to pump more money into solving the nation's housing crisis.

High borrowing costs led to fewer mortgage originations in the second quarter, according to the Federal Reserve Bank of New York's Quarterly Report on Household Debt and Credit released Tuesday.

A bill from Sens. Richard Blumenthal, D-Conn., and Elizabeth Warren, D-Mass., and companion House legislation from Rep. Maxine Waters, D-Calif., would change the Electronic Fund Transfer Act to guard consumers against losing money in authorized transfers that involve scams

Graham Steele, formerly the assistant secretary for financial institutions at the Treasury Department, laid out a detailed bank regulatory reform agenda for future progressive policymakers to consider that includes rolling bank Trump administration-era tailoring rules and accounting for the increased digitization of the banking system.

The Federal Reserve chair said Fed researchers continue to explore central bank digital currencies to stay current on international payments developments, but emphatically denied that the central bank is considering creating one of its own.

Capital One's proposed deal to acquire Discover is being viewed by progressives as a test of how skeptical the administration really is about big bank mergers, while Republican lawmakers mostly support the deal.

Sen. Cynthia Lummis announced a forthcoming bill that would require the government to hold 5% of the global bitcoin supply. Presidential candidates Donald Trump and Robert F. Kennedy Jr. have also called for strategic holdings of the cryptocurrency.

Despite being a top concern for a wide swath of voters, housing affordability has largely been absent from presidential politics.

The siren song of greater regulatory uniformity will lead the industry to disaster, as the kind of innovation that benefits consumers is stifled.