House Financial Services Committee

Fed chief hints Wells Fargo's regulatory issues are far from over

03/20/19

Speaking at a press conference, Federal Reserve Chairman Jerome Powell said the bank’s risk management failures have required a dramatic overhaul of its processes.

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Lack of diversity at Home Loan banks 'concerning,' Waters says

03/20/19

A report from the Government Accountability Office found that while the Federal Home Loan banks have taken steps to improve diversity among boards of directors, members are still largely male and nonminorities.

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Waters schedules committee votes on cannabis banking, CFPB bills

03/19/19

The House Financial Services panel is considering legislation making it illegal for a federal regulator to penalize banks that accept FDIC-insured deposits from a legal marijuana business.

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House Dem proposes banning use of credit scores for auto insurance

03/18/19

First-term Rep. Rashida Tlaib, D-Mich., has sponsored the Prevent Discrimination in Auto Insurance Act in order to prevent “undue burden” on low-income individuals seeking auto insurance.

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What's behind OCC’s public rebuke of Wells Fargo?

03/15/19

Federal regulators normally hesitate even to name specific institutions, but the Office of the Comptroller of the Currency appears to be taking a different tack with Wells.

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‘The mere staffing of CFPB is a waste of money': Comments of the week

03/14/19

Readers debate the merits of activist pressure on bank business, discuss the Trump administration's influence on the CFPB, consider Wells Fargo CEO Tim Sloan's performance before Congress and more.

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Wells Fargo's Sloan 'should be shown the door': Waters

03/14/19

House Financial Services Committee Chairwoman Maxine Waters said the CEO's 2018 bonus was "outrageous and wholly inappropriate" and called for his removal.

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House lawmakers still divided on flood insurance reforms

03/13/19

The House Financial Services Committee debated legislation Wednesday to reform and reauthorize the National Flood Insurance Program, but no clear solution emerged.

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House bill would require Fincen to work with tribal agencies

03/13/19

The Financial Crimes Enforcement Network voluntarily works with tribal law enforcement on anti-money-laundering and counterterrorism initiatives, but is not currently required to do so by statute.

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Sloan says Wells Fargo has cleaned up its act. Congress begs to differ

03/12/19

More than two years after Wells Fargo's consumer scandals first came to light, the congressional backlash facing the bank is bipartisan and just as fierce.

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