House Financial Services Committee Chair Jeb Hensarling and Representative Roger Williams said the Financial CHOICE Act would rein in the CFPB, toughen penalties for financial fraud and remake the CFPB as the "cop on the beat."

The Chicago Fed published a staff policy paper highlighting the major business model and risk profile differences between central counterparties and banks.

In response to the release of the semi-annual report of the Global Capital Index, FDIC Vice Chair Thomas Hoenig expressed concern that the banking sector remains highly leveraged and provides the lowest return on equities when compared with other major U.S. industries.

The Office of the Comptroller of the Currency published a new booklet in the Comptroller's Handbook that provides guidance regarding the risks associated with retail lending.

Republican Senators urged Treasury Secretary Steven Mnuchin to stop the IRS from becoming a "conduit" for CFPB communications with the public.