Elizabeth Warren

Equifax, Wells chiefs face angry lawmakers

10/04/17

Former Equifax CEO blames one employee’s mistake for the massive hack; Warren calls Sloan “incompetent” and says he should be fired.

[more]

New CEO, same drubbing for Wells on Capitol Hill

10/03/17

Wells Fargo CEO Tim Sloan took heat from Senate Democrats, who questioned his fitness for the job, the bank's use of mandatory arbitration clauses and even whether its charter should be revoked.

[more]

Memo to Equifax CEO: Don’t follow Wells’ lead

09/24/17

A year ago, then-Wells CEO John Stumpf testified before two committees. It went so poorly Stumpf later resigned and his bank is still struggling to repair the damage. Here's how Equifax CEO Richard Smith can avoid the same fate.

[more]

Warren targets Equifax investor disclosure, board’s clawback powers

09/22/17

Sen. Elizabeth Warren, D-Mass., is broadening her probe into the data breach to look at whether the company should have disclosed the breach sooner and if it plans to claw back compensation.

[more]

GOP undeterred on arbitration rule repeal despite Wells, Equifax

09/21/17

Democrats have striven to paint recent scandals at Wells Fargo and Equifax as prime examples of why a regulatory rule banning mandatory arbitration agreements should be upheld, but Republicans are not wavering on their desire to overturn it.

[more]

Lawmakers to grill Equifax, Wells CEOs in busy week of hearings

09/21/17

The hearings before the Senate Banking Committee have high stakes for both companies, as lawmakers are expected to ask the CEOs whether they should be fired.

[more]

Warren assails Equifax's response to breach, pushes credit bureau reform

09/19/17

Sen. Elizabeth Warren, D-Mass., called for bipartisan action against Equifax during a Senate floor speech on Tuesday, criticizing the credit bureau for waiting several weeks after a massive data breach to reveal it to the public.

[more]

Senate Dem's Equifax bill may gain surprising bipartisan support

09/15/17

Senate Democrats' legislative bid to reform the credit reporting industry is tempered and balanced, according to analysts, which could help it gain traction in the GOP-controlled Congress.

[more]

Warren plans credit bureau reform bill after Equifax hack

09/15/17

The bill would create a federal obligation for credit reporting agencies to offer free credit freezes and prevent them from selling consumer information while a freeze is in place.

[more]

Lawmakers stay clear of ILC charter debate … for now

09/13/17

Few lawmakers have stated positions on fintech applications for industrial loan company charters. It may not stay that way.

[more]