GOP vs. CFPB; New York's Harris to join FSOC; bank, credit union M&A

Republicans preview harsh oversight of CFPB's Chopra in next Congress : In a series of tense exchanges, Republicans accused Consumer Financial Protection Bureau Director Rohit Chopra of making rules through press releases.

More from our Washington Bureau: Toomey aims to keep regulators 'focused on their day job' with swan song legislation . The ranking Republican on the Senate Banking Committee discusses his bid to bring transparency to the Federal Reserve, partnering with Elizabeth Warren and what's next for his career. FDIC proposes rule to crack down on misrepresentations, adopts new arbitration guidelines . The Federal Deposit Insurance Corporation (FDIC) . issued a proposed rule Tuesday to modernize representations of insured deposits and finalized guidelines for appeals of material supervisory determinations. Warren, Marshall introduce crypto anti-money laundering bill . The bill would apply bank-like money laundering laws and regulations to a wide range of cryptocurrency firms.

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Here's more of what we're covering today in banking, credit unions, fintech, payments and regulation:

State bank regulators pick New York's Adrienne Harris to join FSOC : Harris, who leads the New York State Department of Financial Services , will join the Financial Stability Oversight Council next year. She will replace Charles Cooper of Texas as the representative of state bank supervisors.

Judge: Fed Board will not be subject to full discovery in Custodia suit : The Wyoming-based digital asset bank wants more information about why a decision on its two-year-old application for a master account has been delayed. But U.S. District Judge Scott Skavdahl ruled that the central bank won't have to turn over everything Custodia Bank sought.

First Bank in New Jersey strikes $150 million deal to expand in Philly : The acquisition of Malvern Bancorp Inc in Pennsylvania would provide added heft in suburban Philadelphia markets. It is easily First Bank 's largest-ever M&A deal.

Snowbird strategy: Michigan credit union buying Florida bank : Dort Financial Credit Union in Grand Blanc, Michigan, has agreed to buy Flagler Credit Union in South Florida. The deal would allow Dort "to better serve our members who spend winters in Florida," its CEO says.