Victoria Finkle

The window for moving financial services regulatory relief through Congress is rapidly closing, but there appears to be little hope that the partisan tensions that have stalled the process will ease in time.

The Senate passed a bipartisan bill late Tuesday that would cap executive pay at Fannie Mae and Freddie Mac.

Nearly 25 years after a landmark deal and two subsequent legislative overhauls, glitches in the credit reporting system remain widespread. But while regulators and law enforcement officials are again raising the stakes for the credit reporting industry, critics fear it may not be enough.

Senate Democrats are urging regulators to investigate potential discrimination in how banks and other financial institutions handle and market foreclosed homes.

Several House lawmakers joined the call Thursday for a formal grace period for new mortgage disclosures that would go beyond an earlier decision by the Consumer Financial Protection Bureau.

More than a dozen housing groups are urging lawmakers to pass legislation that would grant lenders a formal grace period for implementing new disclosure forms later this summer, arguing that the industry needs greater certainty than the Consumer Financial Protection Bureau has so far provided.

The House approved a measure Wednesday that would bar the Department of Justice from using federal funding to apply a controversial legal theory on price discrimination in litigation.

WASHINGTON — Senate Banking Committee Chairman Richard Shelby offered a few hints Wednesday about what bankers might be able to expect from pending regulatory relief legislation due next month.

Despite a strong industry push, a bill to amend the Consumer Financial Protection Bureau's "qualified mortgage" rule is facing an uphill battle to enactment this year.

The House approved eight regulatory relief bills Tuesday evening, including two controversial measures opposed by a number of Democratic lawmakers and the White House.

The House is slated to vote on a host of regulatory relief bills next week when Congress returns from its spring break.

Mel Watt, the former North Carolina lawmaker, has earned praised for his cautious approach to guiding the future of Fannie Mae and Freddie Mac. But critics say he is making it even more difficult to craft a system without them.

Sen. Mike Crapo, R-Idaho, unveiled legislation Friday that would require the banking agencies to review Dodd-Frank Act rules as part of a mandated process to assess the relevance of financial rules.

Michael Stegman, a top housing policy adviser, urged regulators on Thursday to bring more private capital into the market, even in the absence of legislative momentum.

Consumer Financial Protection Bureau Director Richard Cordray said a review of its "qualified mortgage" rule will allow enough time to consider changes if lawmakers fail to make progress on housing finance before a key deadline.

At a hearing Tuesday, GOP lawmakers hammered FHFA Director Mel Watt for four hours over his recent decisions to allow Fannie Mae and Freddie Mac to buy loans with lower downpayments and provide money to two affordable housing trust funds.

The Senate approved legislation to reauthorize the Terrorism Risk Insurance Act, sending it to President Obama's desk after a months-long battle.

With Republicans now controlling both chambers of Congress and signals from Democrats that they are open to alterations, revisions to Dodd-Frank are at the top of the agenda in addition to other subjects, like terrorism insurance and housing finance reform.

Only eleven months after cheering Federal Housing Finance Agency Director Melvin Watt's confirmation, Senate Democrats are fed up with the pace of reforms at the agency.

Federal prosecutor Loretta Lynch may soon replace Attorney General Eric Holder, leaving bankers wondering whether she will be tougher on institutions than her predecessor.