Dodd-Frank

Ahead of the House vote Thursday on the Financial Choice Act, the two parties were assailing each other as proxies for Wall Street and painting themselves as defenders of community banking and the consumer.

The House passed a bill that assigns Qualified Mortgage status to loans that banks hold in portfolio.

Clearing the bill through the House has value, giving baseline legislative language that the Senate might select in a more modest legislative package.

Senators on both sides of the aisle paid lip service Thursday to giving relief to community banks and credit unions, but didn't appear closer to specifics of what would be in a bill.

Sen. John Kennedy, R-La., said he wants policymakers to flesh out a potential return of the Glass-Steagall Act, but wasn't sure if it should separate commercial and investment banking.

The Senate Banking Committee may pass a number of small legislative proposals to help banks and credit unions, but the panel is still figuring out what sort of package can ultimately be agreed upon, top Democrats said Tuesday.

While a House bill expected to be passed this week has little chance in the Senate, some of its individual provisions could be enacted by Congress, including one aimed at banks' systemic threshold.

A bill to overhaul the Dodd-Frank Act could get a vote in the full House as early as June 7.

Roughly 58% of 6,000 voters in key states said they would support moving the bureau from a single director to a bipartisan commission, according to an industry-supported poll.

The trend of putting ever-smaller pieces of the same commercial mortgages into multiple securitizations requires investors to be extra careful, and will inevitably make workouts of bad loans more complicated.

The Congressional Budget Office said only community banks would choose to hold higher capital in return for fewer rules while lowering its estimate of cost savings of eliminating new FDIC resolution powers.

Treasury Secretary Steven Mnuchin was pressed for his views on housing finance reform, what a “modernized” version of the Glass-Steagall Act would look like and a two-tiered regulatory system.

Some believe that increased bank regulation is to blame for overall slower growth in commercial and industrial loans. Yet that assessment misses some important details.

Treasury Secretary Steven Mnuchin is expected to face tough questions on the OCC, Glass-Steagall and housing finance reform when he testifies on Thursday.

A House Republican bill would allow lax lending standards to creep back into the financial system by gutting the CFPB, according to a letter from 158 law professors and scholars.

Democrats in the House and Senate introduced a bill Tuesday that would get rid of an obscure legislative process that has handcuffed rulemakings from the Consumer Financial Protection Bureau and other regulators.

Brent Beardall, who recently took the helm at Washington Federal, discusses having excess capital, myriad potential fintech partners and why he would tweak — not repeal — Dodd-Frank.

Republican leaders acknowledged that they will not be able to use the Congressional Review Act to overturn the CFPB's prepaid card rule.

The House Financial Services Committee approved the Financial Choice Act by 34 to 26. While it has enough support to clear the GOP-controlled House, it is unlikely to gain traction in the Senate.

The House Financial Services Committee began debate Tuesday on a sweeping regulatory reform bill, yet while it is expected to pass on party lines, few expect it to stand a chance in the Senate.