Sens. Elizabeth Warren (D-Mass.) and Tom Coburn (R-Okla.) are looking to bring eliminate “back-room dealmaking” when federal regulators strike settlements with bad actors.
The investigation centers on whether major institutions purposefully mispriced a mortgage bonds in the years after the 2008 crisis.
The bank is expected to pay $2 billion to settle accusations it turned a blind eye to fraud.
The settlement comes five years after Bernie Madoff’s arrest.
The Federal Housing Finance Agency's new director will be sworn in Monday.
More than half of the Dodd-Frank financial reform law has been fully implemented three and a half years after its enactment.
The bank has agreed to pay Fannie Mae to settle issues with mortgages from before 2009.
Industry groups have threatened to sue the government if an exemption is not granted.
The company is settling charges of unfair billing tactics and deceptive marketing.
President Obama has nominated securities lawyer Sharon Bowen to join the Commodity Futures Trading Commission (CFTC).
If confirmed by the Senate, Bowen would fill a spot on the derivatives regulator being vacated by Bart Chilton, a Democrat who is scheduled to leave the five-member commission in the near future.