Victoria Finkle

The Justice Department's $7 billion deal with Citigroup is likely not the last big government maneuver to penalize banks for faulty mortgage-related practices leading to the financial crisis.

The Justice Department likely hopes that Credit Suisse's guilty plea to a criminal charge will squash the idea that some large institutions are too important to the economy to prosecute. But experts say the issue is more complicated than that, arguing that the debate will live on. Here's why.

Sen. Elizabeth Warren's new book details the Massachusetts lawmaker's dramatic rise from humble Oklahoma roots to bookish Harvard law professor to liberal juggernaut, and includes some behind-the-scenes insights to the formation of the CFPB and its agenda.

Members of the Senate Banking Committee and others are raising concerns about the credibility of a pending watchdog report analyzing whether some banks are still "too big to fail," suggesting some experts it relies on may be too closely tied to Wall Street.

Sen. Bernie Sanders, I-Vt., and Rep. Brad Sherman, D-Calif., reintroduced legislation Tuesday to break up the largest financial institutions. The bill was light on details, however, and did not spell out how a breakup should be done.

Sen. Richard Shelby introduced two bills on Tuesday aimed at fixing technical errors in the Dodd-Frank reform law and requiring regulators to complete rigorous economic analysis when crafting new rules.

Observers say it's unlikely Congress will be able to strike a deal to stop across-the-board budget cuts from going into effect, raising concerns for bankers and regulators alike.

In her first extensive interview since becoming the lead Democrat on the House banking panel, Rep. Maxine Waters says she has learned a lot from watching former Rep. Barney Frank's leadership and will strive to emulate his example.

The banking industry is expected to benefit marginally from the deal to avert the fiscal cliff, but looming fights over tax reform and the debt ceiling remain.

House Republicans continued their attacks on the Volcker Rule on Thursday, arguing it was unnecessary and overly complex just a day after Federal Reserve Board Chairman Ben Bernanke signaled regulators were close to finalizing it.

SEC Chairman Mary Schapiro is leaving the agency, after helping turn around its tarnished reputation in the wake of the financial crisis.

Elizabeth Warren, the CFPB architect and frequent bank critic, was elected late Tuesday to the Senate, much to the dismay of the financial services industry.