THE VAULT: Once again, the “crypto Congress” is on the verge of collapse after the Senate Banking Committee punted a landmark crypto markup that was scheduled to happen this morning. @brendanpedersen.bsky.social has the latest: punchbowl.news/article/vaul...

NEWS in THE VAULT: A collection of tribal governments and other groups are mounting a year-end push for federal regulators and lawmakers to crack down on the “unregulated” prediction markets industry. @brendanpedersen.bsky.social has the details: punchbowl.news/article/vaul...

News in THE VAULT: House Financial Services Chair French Hill pulled out of bipartisan NDAA talks that would’ve boosted the CDFI Fund — blindsiding the other three corners. @brendanpedersen.bsky.social has the details: punchbowl.news/article/vaul...

THE VAULT: The penny was declared dead this week at the age of 232-years-old, courtesy of the Trump administration. Now it’s Capitol Hill’s turn to pick up the tab. Because the penny hasn’t gone quietly. More from @brendanpedersen.bsky.social — punchbowl.news/article/vaul...

News in THE VAULT: It’s fintech, crypto and retailers vs. the banks. Today’s the deadline for comments on the Biden-era open banking rules and a sweeping industry coalition is urging the CFPB not to narrow or water them down. More from @brendanpedersen.bsky.social — punchbowl.news/article/vaul...

THE VAULT: Banks want Congress to reopen the GENIUS Act to clamp down on stablecoin “rewards.” But key senators say they’re not relitigating yields. For now, Washington’s siding with crypto. 📝: @brendanpedersen.bsky.social — punchbowl.news/article/vaul...

It looks like President Donald Trump is going to get his way on crypto. House leaders are planning a hybrid approach to advancing crypto legislation after a week of hand-wringing and positioning. @brendanpedersen.bsky.social with more: punchbowl.news/article/fina...

There’s a bipartisan hunger in Congress for lower interest rates. As Republicans step up their attacks on Fed Chair Jay Powell, Democrats are pushing for rate cuts themselves. @brendanpedersen.bsky.social with more: punchbowl.news/article/fina...

Competing visions of American digital asset policy will go head-to-head this week. One is headed by the president, the other led by a former banker from Arkansas. @brendanpedersen.bsky.social with more: punchbowl.news/article/fina...

The Senate’s first-ever move to incorporate digital assets into the regulated financial system disintegrated on Thursday. The political landscape has changed with this failed vote — and not in crypto’s favor. @brendanpedersen.bsky.social with more: punchbowl.news/article/fina...

From THE VAULT: The GOP’s tax bill hits prime time, Rep. Neal details House Dems’ strategy for the tax markup, the three things we learned from crypto’s Senate flop and more. Laura and @brendanpedersen.bsky.social in the Lookahead: punchbowl.news/archive/5112...

More news via Punchbowl News' Texts: Democrats are planning to walk out of a joint hearing scheduled for tomorrow. House Ag and finserv plan to discuss changes to the market structure of crypto regulation. Democrats say House rules allow them to halt proceedings by denying UC

Scoop: Thune told offices the Senate is moving full steam ahead on a floor vote of the GENIUS Act this week, despite opposition from a key bloc of Democrats. First in PBN texts. Republican leadership wants to call Democrats' bluff on stablecoins... if it is a bluff. May not be

From THE VAULT: The House GOP struggles to cut deals as the reconciliation clock races, crypto has a Senate Democrat problem and the latest Canvass poll on crypto reforms is in. Laura and @brendanpedersen.bsky.social in the Lookahead: punchbowl.news/archive/5425...

Some news in our AM edition: Republicans on the House Financial Services Committee conferenced last night to discuss their approach to reconciliation. On the chopping block: The CFPB, PCAOB and up to $5 billion in cuts, depending on CBO scoring

From THE VAULT: It’s tax writing time, the medical debt CRA deadline is looming, it’s one helluva time for a monetary policy task force, we share the latest on K Street and more. Laura and @brendanpedersen.bsky.social in the Lookahead: punchbowl.news/archive/4132...

The Biden-era director of the Consumer Financial Protection Bureau was fired in February. Two months later, Rohit Chopra may be on the verge of scoring a surprising political triumph in the Trump era. @brendanpedersen.bsky.social with more: punchbowl.news/article/fina...

From THE VAULT: Inside Republicans’ next moves to write the tax bill, the credit union lobby’s $12M Capitol Hill townhouse overhaul, this week’s hot tax topics on K Street and more. Laura and @brendanpedersen.bsky.social in this week's Lookahead: punchbowl.news/archive/3925...

News: House Republicans have developed a new strategy for cutting the budget of the Consumer Financial Protection Bureau. The approach is distinct from prior attempts, designed to work w/ reconciliation and could gut the CFPB budget while dodging the Senate filibuster. Read >>>

Less than a week into the second Trump administration, the fight over the future of the Consumer Financial Protection Bureau is already here. @brendanpedersen.bsky.social with more: punchbowl.news/article/fina...

Senate Banking Committee Chair Tim Scott and House Financial Services Committee Chair French Hill have a lot of preferences in common, but their styles as lawmakers are very different. @brendanpedersen.bsky.social details their approaches to down-dais leadership: punchbowl.news/article/fina...

Interesting group for folks tracking crypto influence in this Congress: - Bynum beat a Fairshake-backed GOP candidate in November, a rare defeat for crypto in '24 - Fields appears to have made no public statements re crypto - Liccardo is a crypto ally.

House Democrats are adding three members to their roster on the Financial Services Committee, according to two people familiar with the decision. Those members are Reps. Janelle Bynum (Ore.) Cleo Fields (La.) and Sam Liccardo (Calif.). Welcome, newbies!

Good morning from the nation's capital

Forget about crypto for a second. The next chair of the House Financial Services Committee has been pushing for innovation in the banking sector for nearly half a century. More from @brendanpedersen.bsky.social in The Readback: punchbowl.news/archive/1221...

Full list of Republicans on the Senate Banking Committee for the 119th Congress: Scott, SC Crapo, Idaho Rounds, SD Tillis, NC Kennedy, La. Hagerty, Tenn. Lummis, Wyo. Britt, Ala. Ricketts, Neb. Banks, Ind. Cramer, ND Moreno, Ohio McCormick, Penn.

Restrictions on U.S. outbound investment in China have also been knocked out of the package, folks tell @jakesherman.bsky.social and me

The FDIC's inspector general released its inquiry into the agency's harassment problems today. According to a survey done by the OIG, one third of FDIC employees have "either experienced or personally witnessed harassment" at the agency. www.fdicoig.gov/sites/defaul...

Once more, with feeling! Shortly before midnight on Friday, Senate Banking Committee Chair Sherrod Brown scheduled another nomination vote for two Biden administration appointees this week. @brendanpedersen.bsky.social with details: punchbowl.news/article/fina...

Here's your first in-depth policy sit-down with the next chair of the House Financial Services Committee. Ever wondered what sold French Hill on crypto? We talked about that, what it will take to release Fannie-Freddie and a whole lot more.

HOW FRENCH WON: Tonight's PM top is a big joint effort from @jakesherman.bsky.social @mzanona.bsky.social Laura and I taking you inside the room that elected French Hill to chair the House Financial Services Committee. Barr had a major vulnerability. Hill clocked it and twisted the knife.

Lots of folks have wondered how Tim Scott will juggle being chair of both the Senate Banking Committee and NRSC. I wrote about how it's been going so far: https://buff.ly/49Bboea

After postponing a vote to advance Biden administration nominees, the Senate Banking Committee will attempt to hold this vote off the Senate floor sometime later today — but there’s a miniature maelstrom hanging over the proceedings. @brendanpedersen.bsky.social: punchbowl.news/article/fina...

Inside the room: Sen. Tim Scott (R-S.C.) sits down with Treasury nominee Scott Bessent

House Minority Leader Hakeem Jeffries says the push to restrict outbound investment in China has “ongoing issues.” Plus, Scott Bessent, nominee for Treasury secretary, weighs in on Fed Chair Jay Powell serving his full term. Laura & @brendanpedersen.bsky.social: punchbowl.news/article/fina...

Senate Banking Committee Chair Sherrod Brown said his panel plans to move ahead on two nomination votes Wednesday morning, despite losing two Democratic members of the committee this week. @brendanpedersen.bsky.social with more: punchbowl.news/article/fina...

The political season is over — but don’t think you’re free of politics on your TV! Different interest groups are churning out ads fighting for their tax and financial services priorities. Laura and @brendanpedersen.bsky.social with details: punchbowl.news/article/fina...

News from me and @AndrewDesiderio: Sen. Steve Daines (R-Mont.) is looking to depart the Senate Banking Committee as he eyes a seat on the Senate Foreign Relations Committee, according to three people familiar with the matter. More in PM:

A pledge from Elon Musk to cut down on “government waste” and reduce the number of federal agencies faces significant legal and political hurdles — but the campaign has kicked off real conversation among GOP lawmakers. @brendanpedersen.bsky.social with more: punchbowl.news/article/fina...

From THE VAULT: Setting the stage for the 119th Congress, Elon Musk wants fewer agencies and Republicans have ideas, the struggle over the future of clean energy tax credits and more. Laura and @brendanpedersen.bsky.social in the Lookahead: punchbowl.news/archive/1212...

Fun fact: The CFPB has repeatedly brought legal action against an Andreessen Horowitz-backed startup called "LendUp Loans," including a 2021 order that closed the organization. The CFPB announced in May that it had returned $40 million to LendUp's customers.

Elon Musk boosted a Joe Rogan interview this morning with a16z's Marc Andreessen. The venture capitalist blasted the Consumer Financial Protection Bureau in particular, calling it "Elizabeth Warren's personal agency that she gets to control"

News: Rep. Maxine Waters will release a bill today aimed at improving the transparency of artificial intelligence products used in financial services. @brendanpedersen.bsky.social with the preview: punchbowl.news/article/fina...

INBOX: Senate Banking Committee Chair Sherrod Brown accuses credit bureau execs of backing out a hearing that was supposed to happen last week.

Talked to Sens. Elizabeth Warren (D-Mass) and Sherrod Brown (D-Ohio) about what populism means and whether it's a good idea to work with Republicans who try to claim the title Their answers were... different! And say a lot about how the Senate Banking Committee could change

It could be a bumpy ride for Fannie Mae, Freddie Mac and the rest of the U.S. housing market. Here’s why — and how mortgage bankers see GSE reform playing out. @brendanpedersen.bsky.social with more: punchbowl.news/article/fina...

The Federal Reserve has been fighting a yearslong war against inflation. But a political struggle is brewing, and Congress will be at the center of it. @brendanpedersen.bsky.social with details: punchbowl.news/article/fina...

Is there an opening for Democratic populists to work with their Republican counterparts in the 119th Congress? It depends on who you ask. @brendanpedersen.bsky.social with more: punchbowl.news/article/fina...

From THE VAULT: Top Federal Reserve officials draw battle lines, Democrats craft 2025 tax messaging, how mortgage bankers see GSE reform playing out, populists and banking —and more. @brendanpedersen.bsky.social and Laura in the Lookahead: punchbowl.news/archive/1124...