The Senate voted 63-36 Thursday night in favor of an agreement to raise the debt ceiling. The legislation, which cleared the House on Wednesday, now heads to President Biden to sign into law. The deal struck by Biden and House Speaker Kevin McCarthy (R-Calif.) also contains provisions to limit government spending. Earlier this week, the American Bankers Association and other financial sector trade associations urged lawmakers in both parties to reach an agreement to prevent what they said would be irreparable harm to the U.S. economy.
Court blocks CFPB’s late fee rule from taking effect
ABA's Rob Nichols welcomed the ruling, which he said “will spare banks from having to immediately comply with a rule...