Progressive lawmakers press banks on overdraft fees

Three lawmakers led by Senate Banking Committee ranking member Elizabeth Warren, D-Mass., are beginning to assess the impact that the Trump administration’s posture toward the Consumer Financial Protection Bureau has had on overdraft fees.

Fintechs want Congress to preempt state privacy laws

The American Fintech Council wants Congress to amend the Gramm-Leach-Bliley Act to preempt state privacy laws with both entity-level and data-level exemptions, as well as eliminating restrictions on the secondary use of data.

No ruling on whether Fed. Gov. Lisa Cook stays on the job

The D.C. District Court held a hearing this morning and defendants filed briefs in a case to determine whether Federal Reserve Gov. Lisa Cook will remain on the Federal Reserve Board after her ostensible firing by President Trump earlier this week. No ruling was issued, but one is expected before the FOMC votes in mid-September.