Regulatory reform

The OCC is proposing steps for determining which party is the "true lender," which affects how the agency oversees such arrangements.

From affordable housing policy to GSE conservatorship, the next president will wield a heavy influence on mortgage and housing policies.

Republicans still receive more money overall from bankers, but the gap is narrowing ahead of the November elections. Experts say that the trend corresponds with signs of a “blue wave” and that many in the industry prefer Democrats on nonregulatory issues.

Policymakers have eased some rules and the Supreme Court recently dealt a blow to the Consumer Financial Protection Bureau. But as the landmark legislation approaches its 10th anniversary, the post-crisis regulatory regime has stayed largely intact.

Backers say a bill to limit asset growth instead of restricting brokered funds addresses concerns about expanding balance sheets at troubled banks. But skeptics worry it would open the door to greater risk.

The agency delivered long-anticipated regulatory relief to the small-dollar loan industry by eliminating ability-to-repay requirements imposed under the bureau’s former director.

Rancor between Democrats and Republicans has made it hard to enact subsequent bills. But the 2018 reg relief package and more recent legislation offer hope for efforts to reach across the aisle.

The agency has proposed letting firms seek specific guidance, which can be applied to other institutions. But consumer groups worry the plan circumvents formal rulemaking.

In a letter to Director Mark Calabria, 17 organizations requested an additional 60 days to weigh in on the proposal meant to strengthen Fannie Mae and Freddie Mac's balance sheets post-conservatorship.

Chris Dodd and Barney Frank said the legislation — nearing its 10th anniversary — put banks in position to be a stabilizing force during the coronavirus crisis.