House Financial Services Committee

FDIC's McWilliams vows to finish her term


The head of the agency told a congressional panel that the agency is taking steps to prepare for the incoming Biden administration and that she plans to serve until her tenure ends in 2023.


House bill would let smaller banks exclude PPP loans from asset totals


The legislation would help institutions with less than $15 billion of assets avoid regulatory requirements resulting from participating in the small business relief program.


Banking groups urge Congress to block OCC payments charter


Various trade organizations sent letters to a House Financial Services Committee task force saying lawmakers should "actively discharge their oversight prerogatives" as the national bank regulator considers giving licenses to companies that do not accept deposits.


Lawmakers urge Fed, Treasury to let CRE borrowers tap Main Street loans


Commercial real estate companies are among those left out of the Federal Reserve’s middle-market relief program, but House members said they need government-backed financing to navigate the pandemic as much as anyone.


Calabria to Congress: If you don’t like crisis fee, then fund GSEs


Fannie Mae and Freddie Mac have been slammed for planning an additional refinancing charge to cover COVID-related losses, but the head of the Federal Housing Finance Agency defended the policy in House testimony.


Fed wants banks to say what they’re doing to promote diversity


Even though financial institutions have "slightly" stepped up assessments of diversity practices, "we are not satisfied with the level of responsiveness,” a senior Federal Reserve official said in congressional testimony.


Democrats' bill would require Fed to focus on income, racial inequality


The Federal Reserve Racial and Economic Equity Act would direct the Fed to consider racial inequality in employment, income and access to affordable credit when making monetary policy and in its regulation and supervision of banks.


Senior House banking Democrat holds on in primary, another loses


Rep. Carolyn Maloney, D-N.Y., was finally declared the winner weeks after election day, while Rep. Lacy Clay of Missouri was defeated by a progressive challenger.


House bill aims to rein in pricey small-business loans


The legislation proposed by Rep. Nydia M. Velázquez, D-N.Y., goes further than recent state efforts to require better disclosures for high-cost lenders, but it would face an uphill battle in the GOP-controlled Senate.


CFPB chief welcomes GOP focus on restructuring of agency


Kathy Kraninger told the House Financial Services Committee that she supports proposed action to revamp the bureau's leadership framework following a major Supreme Court decision.