Elizabeth Warren is expected to chair Senate Banking. The House Financial Services chair remains contested.

A House bill would move the CFPB to annual appropriations and raise the threshold for direct supervision from more than $10 billion to more than $30 billion in assets.

The bipartisan STOP Payments Fraud Act would allow receiving banks to hold suspicious wires, with a 10-day cap on initial holds and a 45-day cap on extended holds.

Sen. Elizabeth Warren, D-Mass., is expected to chair Senate Banking Committee after Democrats won both chambers in the midterms. In recent months, Warren has urged regulators to withdraw three bank capital proposals, opposed a House-passed bill that would ease some merger and supervisory requirements, and pressed the Consumer Financial Protection Bureau (CFPB) over dropped enforcement cases.

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The banking agencies write the capital rules. As chair, Warren would have a say in which bills get hearing and could press regulators to explain, among other things how their proposals would affect the capital banks hold against losses.

Warren’s selection is pending. Elsewhere, the House Financial Services chair is contested. Rep. Maxine Waters of California, the ranking Democrat and a former chair, faces a challenge from Rep. Sean Casten of Illinois, as reported last month by Politico.

It’s not too far fetched to think the ultimate fate of the CFPB will be high on Warren’s agenda. The senator, of course, first proposed a federal agency dedicated to protecting consumers in financial markets in 2007.

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