Senate Banking Committee

While analysts agree banks are in better shape than in 2008, lawmakers are dusting off a crisis-era tool used by the Federal Deposit Insurance Corp. to soothe potential liquidity fears during the coronavirus pandemic.

The $2 trillion deal passed by the Senate late Wednesday would aim to put banks and consumers alike on stronger financial footing as they weather the coronavirus pandemic.

The temporary foreclosure moratorium on loans backed by HUD, Fannie Mae and Freddie Mac comes after lawmakers and housing advocates had pushed for steps to avoid consumers getting booted from their homes.

Sens. Sherrod Brown and Elizabeth Warren criticized Director Kathy Kraninger for not issuing any public enforcement actions against auto lenders during her tenure.

Sen. Mark Warner led a group of Democratic senators in calling on bank, credit union and GSE regulators to give detailed instructions on helping consumer and commercial borrowers hurt by the COVID-19 outbreak.

U.S. lawmakers are pushing regulators to provide room for banks to work out loans with businesses and consumers who may be affected by the coronavirus.

Sens. Pat Toomey of Pennsylvania and Richard Shelby of Alabama had been among a handful of Republicans who had expressed uneasiness with Judy Shelton's views on monetary policy.

Three key Republicans on the Senate Banking Committee said Monday that they remain undecided on President Donald Trump's nomination of Judy Shelton to the Federal Reserve Board.

Both Democrats and Republicans aired concerns about controversial statements made by Judy Shelton on monetary policy, deposit insurance and other issues, raising doubts about her confirmation.

The lawmakers say they need more information about the administration’s plans in order to conduct proper oversight.