Biden Banking Rules Hit With Lawsuits Even as GOP Eyes Rollbacks

Financial industry powerhouses are going full steam ahead in court fighting Biden administration banking rules, even as Republicans set for a power trifecta in Washington consider reversing the eleventh-hour rulemaking.

President-elect Donald Trump and the Republican-controlled Congress have vowed to roll back President Joe Biden’s regulations, with those issued by the Consumer Financial Protection Bureau high on the list.

But blocking some rules with populist appeal, such as the CFPB’s limits on overdraft fees and its ban on most medical debt reporting, may be a tough political lift for Congress, especially as lawmakers eye floor time for competing priorities in ...