A new Office of External Relations and Strategic Partnerships will continue the work of helping banks develop affordable credit for consumers lacking a credit score using untraditional methods of determining creditworthiness, the agency's acting head said.

The Senate Banking Committee considered the nomination of Paul Atkins to lead the Securities and Exchange Commission, whose track record on deregulation in the lead up to the 2008 financial crisis was questioned by Democratic lawmakers. Lawmakers also considered the nomination of Jonathan Gould to lead the Office of the Comptroller of the Currency and Luke Pettit for a key bank regulatory role at Treasury.

The veto aligns with President Trump's executive order on AI, which focuses on innovation and leadership rather than consumer protection.

The Senate voted 52-48 to overturn the Consumer Financial Protection Bureau's rule that would cap overdraft fees at many banks at $5.

After eight years of delay, the Consumer Financial Protection Bureau could still make last-minute changes to the payday rule, which sweeps in the buy now/pay later industry.

The Senate Banking Committee will consider the nominations of Jonathan Gould to lead to Office of the Comptroller of the Currency, Paul Atkins to lead the Securities and Exchange Commission and Luke Pettit as Assistant Secretary of the Treasury Thursday morning.

In a paper, former central bank researchers make the case that the Federal Reserve could better support the Treasury market from disruptions in the cash-futures basis trade by hedging its asset purchases.

The Consumer Financial Protection Bureau asked a federal judge to vacate and set aside a settlement against a Chicago mortgage lender, accusing the CFPB of misconduct in a case brought under former Director Kathy Kraninger, a Trump appointee.

The event Wednesday marked the first time Teng has spoken in the U.S. capital since becoming CEO.

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency took a measured approach to developing the international capital standards, according to a Government Accountability Office report.