As Democrats urge pause in bank rules, GOP says hurry up
By Neil Haggerty
The coronavirus pandemic has hardened congressional views on bank regulation in both parties, with Republicans urging agencies to finish rules intended to foster economic growth and Democrats calling for a pause on loosening restrictions that protect consumers. The competing approaches have intensified as Trump-appointed regulators aim to finish regulations dealing with issues from payday lending to mortgage underwriting to the definition of brokered deposits. …But Karen Petrou, managing partner at Federal Financial Analytics, said Democrats’ position is consistent with their views before the crisis, since they are essentially calling for a suspension of rulemakings that they have fought all along. “The Democrats believe that there are other more critical priorities than finishing rules, especially those they oppose,” Petrou said.