The House today passed the Financial Choice Act by a mostly party line vote of 233 to 186 (one Republican, Rep. Walter Jones of North Carolina, voted against).

Testifying before the Senate Banking Committee today, Treasury Secretary Steven Mnuchin said he is hoping to collaborate with senators on financial regulatory relief and housing finance reform.

House Financial Services Committee Chairman Jeb Hensarling (R-Texas) today announced plans for new legislation that he called a “market-based, equity financed Dodd-Frank off-ramp.”

In an op-ed in the Orlando Sentinel this weekend, Florida Bankers Association president and CEO Alex Sanchez called on political candidates to work for bipartisan regulatory relief that would build up regional and small banks, rather than focusing on the destruction of large institutions they consider “too big to fail.”

The federal banking agencies’ proposal for the eight U.S. global systemically important banks to increase their total loss absorbing capacity, or TLAC, would create a $363 billion shortfall in eligible TLAC and long-term debt -- plus $622 trillion in unrelated liabilities -- by Jan. 1, 2019, a massive gap that would “be very expensive and perhaps impossible to cure…promptly,” according to ABA and several other trade groups in a comment letter Friday.

In her testimony before the House Financial Services Committee today, Federal Reserve Chairman Janet Yellen pointed to evidence that the U.S. financial system has “strengthened considerably.”

The Basel, Switzerland-based Financial Stability Board today updated its list of global systemically important banks subject to supplemental loss absorbency requirements.

The Federal Reserve on Friday proposed a new set of requirements for the eight U.S. global systemically important banks to increase their total loss absorbing capacity, or TLAC, by at least 60 percent.

Warning against “the mistake of believing that we have put an end to financial crises” at the International Monetary Conference in Toronto today, Federal Reserve Vice Chairman Stanley Fischer defended the international post-financial crisis regulatory regime as necessary to prevent similar crises in the future.

Frank Keating asks the FDIC chairman’s views on the future of community banking, cybersecurity threats, regulatory burden, too-big-to-fail and more.