Agency consolidation: A Senate vibe check

The smell of consolidation is in the air. For once, it’s not the banking industry we’re talking about, but the regulators.

The Trump administration’s opening regulatory moves and not-so-subtle overtures about agency independence have prompted a broader reckoning among industry players and lawmakers about the shape and function of financial oversight. House Financial Services Committee Chair French Hill (R-Ark.) wants in on the action, as we reported last week.