Ian McKendry

The congressional resolution to overturn the payday regulation comes as acting CFPB Director Mick Mulvaney has already said the agency will reconsider the rule internally.

The regulatory relief bill frees some regional banks from the tough supervision reserved for larger companies, but regulators still can subject them to onerous requirements.

Just as promised, Republican lawmakers went to work Wednesday considering regulatory reform ideas that would go further than the Senate's tweaks of the Dodd-Frank Act.

With the Senate finishing its work on a regulatory relief package, a showdown in the House still looms while critics of Dodd-Frank weigh whether this is their last shot at unwinding it.

A late addition to regulatory relief legislation would direct the Federal Housing Finance Agency to review credit-scoring alternatives, but some say the provision is redundant.

Lawmakers on Tuesday continued debating a thicket of proposed additions to a crucial regulatory relief bill on their way to a final vote likely to occur as early as midweek.

The Senate legislation could be crucial for three moderate Democrats backing the bill who are up for re-election this fall, although the package has divided the party more broadly.

Unable to come to an agreement on which and how many amendments will be offered to a Dodd-Frank regulatory relief bill, the Senate will have to return next week before voting on the legislation.

The latest version of a bill to give regulatory relief to small institutions includes language designed to ensure that large foreign bank holding companies do not also see their supervision eased.

More than 50 amendments had been filed by Wednesday afternoon to be considered as part of a Senate regulatory relief bill, but it was unclear which proposed changes if any have the approval of the legislation's key sponsors.