Senate Banking Committee

Senate negotiators are working on a bill that would place Fannie Mae and Freddie Mac into receivership and replace them with multiple mortgage guarantors, according to sources.

Progressives have been setting off alarm bells this week over the Senate’s bill to ease some Dodd-Frank rules, but the changes are more modest than many assume.

Sen. Elizabeth Warren, D-Mass., was the only member of the Senate Banking Committee to oppose the nomination of Federal Reserve Board Gov. Jerome Powell to lead the central bank.

The ill will between Democrats and Republicans in the controversy over appointing an acting Consumer Financial Protection Bureau chief adds a new wrinkle to bipartisan efforts to pass regulatory relief.

Brian Montgomery seems on his way to being confirmed to lead the Federal Housing Administration. But once he gets there, he may find it difficult to be as innovative as he was during his first stint as commissioner — particularly when it comes to reducing FHA premiums.

The Senate Banking Committee voted to advance the nomination of Brian Montgomery to serve as commissioner of the Federal Housing Administration, despite ongoing criticism from some Democrats that he is too close to the financial services industry.

The regulatory relief bill would raise the SIFI threshold to $250 billion of assets and allow mortgages held in portfolio to be counted as "qualified," among other items, but it is far less sweeping than institutions had hoped.

Congress may soon try to limit the personal identifiable information that companies and the government can collect on consumers based on their reaction to the massive data breach at Equifax.

Sen. Bob Corker has been a key voice in the housing finance reform debate. His departure at the end of next year puts a deadline of sorts on his efforts to unwind and replace Fannie Mae and Freddie Mac.

Democrats have strived to paint recent scandals at Wells Fargo and Equifax as prime examples of why a regulatory rule banning mandatory arbitration agreements should be upheld, but Republicans are not wavering in their campaign to overturn it.

Lawmakers like Sen. Tim Scott may feel differently about some elements in a Senate regulatory relief bill depending on whether CFPB Director Cordray is remaining in office until his term expires in July.

A mishmash of lawmakers from different parties and committees are wading into the aftermath of Equifax’s megabreach, with some using it to advance their policy agendas while others are calling for possible criminal prosecution.

The discounts that Fannie Mae and Freddie Mac used to offer large originators for selling them bulk bundles of mortgages continue to haunt small lenders, who worry a new housing finance system could revive the practice.

House and Senate lawmakers formally filed resolutions on Thursday to repeal the Consumer Financial Protection Bureau's arbitration rule, but there were early signs that enacting them may prove challenging.

Senate Banking Committee leaders are hoping to pass the bill quickly ahead of a looming deadline of Sept. 30 when the program expires.

The renewed debate on reforming Fannie Mae and Freddie Mac is focused on how small and midsize banks would be affected.

The Main Street GSE Reform Coalition offered three principles: creating a capital buffer for Fannie and Freddie, continuing with reforms by their regulator and ending the conservatorship that began in 2008.

The Senate is set to begin teeing up housing finance reform discussions at a Banking Committee hearing on Thursday, but many are skeptical that Congress will be able to succeed where it has failed in the past.

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.

Senate Banking Committee Chairman Mike Crapo acknowledged Thursday that a broad Dodd-Frank relief package is likely out of reach, but said targeted reforms could still pass.