Senate Banking Committee

Majority Leader Mitch McConnell filed a motion for cloture on the nomination of Kathy Kraninger to run the agency, setting up a potential vote later this month.

The midterm elections virtually eliminate the chance that progress will be made on financial services legislation.

Several Senate, House and gubernatorial battles are of interest to financial firms. Here is a spotlight on specific contests, with updates as they become available.

The battle gaining the most attention Tuesday night will be which party controls the House next year. But other key races will help determine the makeup of the Senate Banking Committee.

The housing finance agency, which is increasingly at the forefront of reform discussions, has been without a permanent chief for almost two years.

The result could play a big role in whether banks see more regulatory relief next year or policymakers can coalesce around a housing finance reform plan.

The central bank, which received broad authority after the crisis to supervise big banks, is expected to get more attention from lawmakers over its discretion to ease banks’ burden.

The committee approved the nomination of Kathy Kraninger to head the Consumer Financial Protection Bureau, despite strong Democratic opposition, as well as President Trump's picks for Ginnie Mae, the Export-Import Bank and several other positions.

Sen. Heidi Heitkamp, D-N.D., has compromised with Republicans on key issues and supported other Trump nominees, but she said Kathy Kraninger lacks enough experience to run the consumer bureau.

The Banking Committee had delayed a vote on Kathy Kraninger’s confirmation after the Senate announced a short summer recess.

Sen. Brian Schatz, D-Hawaii, said it is hard to imagine how Wells Fargo's $8 million remediation plan would correct a mistake that led to 400 wrongful foreclosures.

The Senate recess is postponing the committee's vote as Democrats press Kathy Kraninger on involvement with zero-tolerance immigration policy at OMB.

Senators at a hearing Thursday discussed a bill establishing an online portal for consumers to monitor their credit reports free of cost.

Lawmakers want the agency to utilize two programs to help families still struggling to recover from the aftermath of Hurricane Maria.

The Senate's farm bill would prevent the July 31 lapse of the National Flood Insurance Program, but it still needs to be debated in conference with the House.

Montgomery was confirmed by the Senate 74-23 to serve his second stint at the FHA, where he previously was commissioner during the George W. Bush administration.

The soon-to-be-retiring chair of the House Financial Services Committee said Senate leaders have made a "commitment" to consider more changes.

After months of delay, the House is planning to vote on legislation next week that would amend the Dodd-Frank Act.

The administration is prolonging a decision on a permanent director for the agency to keep the interim chief in place until year-end or longer.

House Republicans are continuing to push the Senate to add more measures to a bill to give regulatory relief to community banks.