President Donald Trump promised to do “a big number” on the Dodd-Frank Act. But a slate of bills House Republicans will take up Wednesday shows how difficult it is to get anything big through Congress these days.
The deregulatory winds blowing through Washington aren’t benefiting the $3.6 billion payday-loan industry, as the U.S.’s top consumer watchdog issued rules Thursday that will dramatically change how many companies providing expensive credit to cash-strapped borrowers do business.
Gee thanks, Gus.
U.S. Senator Elizabeth Warren said one of the biggest injustices of the Equifax Inc. hack is that the company might actually benefit from the fact that a majority of Americans’ personal data is now in the hands of criminals.
Equifax Inc.’s former Chief Executive Officer Richard Smith drew wrath from lawmakers on both sides of the aisle over stock sales initiated by three of his former deputies just days after the company learned of a potential hack.
The Trump administration is exploring ways to replace the use of Social Security numbers as the main method of assuring people’s identities in the wake of consumer credit agency Equifax Inc.’s massive data breach.
Legislation to avert future data breaches like the one at Equifax Inc. will fall short because none can fully prevent human error, a U.S. congressman told the company’s former top executive.
Fannie Mae and Freddie Mac’s regulator may have a travel kerfuffle of his own.
A coalition of corporate lobbying groups, led by the U.S. Chamber of Commerce, sued the Consumer Financial Protection Bureau to overturn a rule that makes it easier for aggrieved customers to file lawsuits against financial firms.
Congressional Democrats are using major scandals at Equifax Inc. and Wells Fargo & Co. to ramp up their push to stop Republicans from killing a controversial rule that would make it easier for consumers to sue financial firms.
The U.S. Securities and Exchange Commission told government cybersecurity officials about a hack into its database of corporate filings soon after it happened last year, months before the agency’s new chairman made the breach public.
As a Barack Obama appointee who supports tough bank regulation, Richard Cordray was never going to be popular in a federal government controlled by Republicans.
Senator Elizabeth Warren, Wall Street’s most relentless critic in Congress, wasn’t going to let a good scandal involving a financial company go to waste.
More than one-third of U.S. senators want the Securities and Exchange Commission and the Department of Justice to get to the bottom of whether Equifax Inc. managers violated insider trading laws when they sold stock days after the company found out it was hacked.
JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. are defending their practice of requiring customers to resolve disputes through arbitration, just as Equifax Inc.’s massive data breach complicates efforts to fend off rules that would make it much easier for consumers to sue banks.
The massive Equifax Inc. data breach has triggered demands on Capitol Hill for stiffer rules and new requirements for what financial companies must do to fend off cyberattacks.
The massive data breach at Equifax Inc. is "exhibit A" on the need for strong U.S. regulation, including higher fines against companies that mishandle consumers’ personal information, second-ranking Senate Democrat Dick Durbin said Monday.
Equifax Inc. faces multiple state and federal investigations, and congressional grillings, over its disclosure that the personal consumer data of more than 140 million Americans may have been compromised in a cyberattack.
Banks have a challenge when Congress returns from summer recess next week. His name is John Neely Kennedy.
A key Republican said Hurricane Harvey will spur Congress to reach a deal to fund the nation’s flood insurance program before it expires next month, even though divisions persist over how much the federal government should be on the hook for future disasters.
The Trump administration is moving to further delay part of an Obama-era rule to require brokers who offer retirement advice to put their customers’ interests ahead of their own.
Democratic lawmakers are raising new concerns about Carl Icahn and whether the billionaire is using his role as an adviser to the White House to bolster his personal investments.
U.S. Treasury Secretary Steven Mnuchin ruled out prioritizing U.S. debt payments if Congress fails to raise the borrowing limit and repeated his call for quick action by lawmakers.
President Donald Trump’s pick to be the Federal Reserve’s top Wall Street watchdog said it’s time to reconsider the restrictions imposed on banks in recent years, even as he credited regulations with helping stabilize the financial system after the 2008 crisis.
House Republicans voted Tuesday to repeal a controversial regulation that would allow more consumers to sue their banks.
Republicans on a key House panel rejected an attempt by Democrats to force the Treasury Department to turn over any documents it has that show financial ties between President Donald Trump and Russia.
Congressional Republicans have formally started the process to reverse a Consumer Financial Protection Bureau rule that makes it easier for customers to sue lenders, taking a pivotal step in the broader effort to roll back Obama-era bank regulations.
It’s not looking good for Scott Garrett, the former GOP congressman tapped by President Donald Trump to run the controversial Export-Import Bank.
Senate Republicans led by Banking Committee Chairman Mike Crapo are preparing legislation to overturn a Consumer Financial Protection Bureau rule that would make it easier for customers to sue banks.
President Donald Trump’s nominee to be chairman of the Federal Deposit Insurance Corp. withdrew his name from consideration on Wednesday, citing family obligations.
Ted Budd, a GOP congressman, got a hard lesson in the limits of his small-government philosophy early in his first term. But the new Wall Street allies he picked up during the debate over financial regulation give Americans a glimpse of how their legislative sausage is made.
The Trump administration has sent a guided-missile destroyer near Triton Island in the South China Sea, according to a U.S. official, which may cause concern ahead of President Donald Trump’s meeting with his Chinese counterpart this week.
Hester Peirce, a former U.S. Securities and Exchange Commission counsel and Senate aide, is the Trump administration’s likely choice to fill the open Republican seat at the Wall Street regulator, according to people familiar with the matter.
BlackRock Inc. wants Congress to change an aspect of the Volcker Rule that is causing headaches within its hedge fund business. Billionaire Paul Singer wants risky derivative bets curtailed and says regulators should lose their authority to step in when large banks are failing. Uber Technologies Inc. says Washington should eliminate red tape that makes it difficult for the private ride-hailing company to issue shares to its drivers.
The Trump administration laid out its highly anticipated plan for overhauling bank rules, calling on the government to ease, though not eliminate, many of the strictures that were imposed on Wall Street after the financial crisis.
House Republicans made headway on President Donald Trump’s pledge to dismantle post-crisis financial rules by approving a sweeping bill Thursday that rips up major aspects of the Dodd-Frank Act.
Wal-Mart and other retailers have beat back the finance industry’s latest lobbying campaign to let banks charge stores higher fees when customers use debit cards, according to two congressional aides with direct knowledge of the matter.
Steven Mnuchin will be overshadowed during his first congressional testimony as Treasury secretary on Thursday by a deepening political crisis at the White House that threatens his aspirations for tax and regulatory overhauls.
Senate Majority Leader Mitch McConnell said he’s pessimistic Congress will overhaul the Dodd-Frank Act because he doubts Republicans can secure enough Democratic votes to make major changes to the sweeping legislation that tightened oversight of banks after the financial crisis.
U.S. Senator Elizabeth Warren is eager to pursue legislation that would break up Wall Street megabanks and has pushed the issue with members of the Trump administration.
Republicans’ latest effort to kill a Dodd-Frank provision that has cost banks billions of dollars is running into trouble.
The roll-out of legislation this week that would rip up much of the Dodd-Frank Act marks a pivotal moment for Republicans’ efforts to overhaul post-crisis financial rules.
White House economic adviser Gary Cohn said Friday that separating Wall Street’s investment and retail banking operations would boost lending by eliminating the need for burdensome regulations.
Donald Trump’s surprising election and his promise to overhaul the U.S. tax code set off celebrations across corporate America -- but some industries had barely applauded before they began gearing up for a fight.
Republicans can’t count on Democrats backing any major effort to ease banking rules during Donald Trump’s presidency, so it could be time for the GOP to go it alone, a key lawmaker said Thursday.
Key Senate Republicans urged the Trump administration to rethink the process for labeling firms whose failure could threaten the financial system, arguing it has led to substantial regulatory costs.
Chief executives at the biggest U.S. regional banks are asking U.S. lawmakers to consider easing capital requirements and repealing part of the Dodd-Frank financial overhaul that caps fees banks charge retailers on debit-card transactions.
President Donald Trump’s pledge to dismantle the Dodd-Frank financial overhaul is colliding with the same reality as his pledge to gut Obamacare: The Republican majority in Congress can’t decide how to make it happen and Democrats are vowing to fight.
It has taken seven years to put in place the regulatory strictures imposed on Wall Street after the financial crisis. They won’t be removed fast or easily.
President Donald Trump will order a sweeping review of the Dodd-Frank Act rules enacted in response to the 2008 financial crisis, a White House official said, signing an executive action Friday designed to significantly scale back the regulatory system put in place in 2010.
Donald Trump faces a major hurdle in fulfilling his pledge to do a “big number” on the Dodd-Frank Act: persuading enough Democrats to go along.
Steven Mnuchin made clear he doesn’t want Wall Street banks getting back into the business of making risky market bets with their own capital, after Senate Democrats pushed him to clarify his responses to questions they asked during his confirmation process to be Treasury secretary.
Donald Trump’s advisers are considering a Texas woman who started a bank with her husband, a former regulator and a sitting congressman to fill a Federal Reserve Board seat set aside for a community banker, according to three people familiar with the matter.
With some in the finance industry salivating over the prospect of deregulation under Donald Trump, a key power broker is emerging who might bring headaches for Wall Street.
Democrat Hillary Clinton would likely try to make history with her choice for U.S. Treasury secretary while Republican Donald Trump would probably select someone whose biography resembles his own.
Hillary Clinton raised $154 million for her campaign and the Democratic Party last month, the biggest monthly fundraising haul yet in her bid for the White House.
Nigel Farage, who helped lead the campaign for the U.K. to leave the European Union, has some advice for Donald Trump ahead of the next U.S. presidential debate against Democrat Hillary Clinton.
The U.S. Department of Homeland Security is urging state and local election officials to seek assistance from the federal government to fend off cyberattacks that could be used to manipulate the results of the November presidential elections.
Donald Trump’s call for a moratorium on new regulations is getting a chilly reception in Washington’s financial-services lobbying community, where battle-weary trade groups are warning that the Republican presidential nominee’s plans could bring risks along with any rewards.
If Hillary Clinton is looking to show the Democratic Party’s liberal wing that she’s ready to be tough on Wall Street as president, her choice of running mate may not help much.