Biden Administration

President Joe Biden's administration and Senate Democrats are ramping up pressure on the Federal Home Loan Bank system to pump more money into solving the nation's housing crisis.

The bipartisan funding bill cuts financial services funding, but includes boons for the Small Business Administration and omits controversial legislation like Durbin 2.0.

In his State of the Union address, President Joe Biden touted the Consumer Financial Protection Bureau's credit card late fee rule, which has sparked litigation from banking groups, and a raft of housing policy initiatives.

The Senate Banking Committee for the second time has advanced Ron Borzekowski's nomination to lead the Office of Financial Research in the Treasury Department. The nomination languished amid partisan opposition last year.

As President Biden tries to revive a key campaign promise to provide widespread debt relief to student-loan borrowers after a Supreme Court setback, legal experts warn that he's likely to encounter a fresh wave of lawsuits challenging his authority to act without congressional approval.

President Biden will ask the Senate to confirm Gov. Philip Jefferson for the No. 2 spot on the Federal Reserve Board; World Bank Group executive and Colombian-American Adriana Kugler for a vacant board seat; and Gov. Lisa Cook for a full term.

Democrats and Republicans each said the other party's position on ESG investing carries additional costs for states.

Ajay Banga's election will give the Biden administration a chance to evolve the anti-poverty lender toward a greater focus on climate change.

Pandemic funding cuts may pop up in any of the four big-ticket, must-pass bills Congress will take up this year.

The proposal marks a concession for Republicans, but it's designed more to start negotiations with the White House rather than pass the Democratic-controlled Senate.