News Topic: House Financial Services Committee

The Senate had passed the bill Tuesday, shortly before the Small Business Administration was to stop accepting new loan applications. ... Read full article

Federal Reserve Chairman Jerome Powell said about 300 lenders have signed on to the program and that the central bank is committed to making adjustments that could attract more borrowers. ... Read full article

While the resolution sends a message of disapproval of the OCC’s reform of the anti-redlining law, the Republican-controlled Senate is not expected to consider the measure. ... Read full article

A key Democrat on the House Financial Services Committee, Rep. Carolyn Maloney has a slim lead over a primary challenger, Suraj Patel, a progressive political activist and New York University Professor. ... Read full article

At a congressional hearing, Fed Chairman Jerome Powell discussed steps to get the flow of coins to financial institutions back to pre-pandemic levels, as well as ways to ease other industry burdens. ... Read full article

The lawmakers are attempting to block the regulation reforming the anti-redlining rule under review powers granted to Congress, but the move is largely symbolic with the Senate and White House controlled by the GOP. ... Read full article

Acting Comptroller of the Currency Brian Brooks had suggested states and municipalities should end "indefinite shutdowns" meant to combat the spread of the coronavirus. The Democratic lawmaker said he was going against the public health ... Read full article

Democrats’ latest proposal to back debt collectors, enable loans for nonprofits and provide other relief could help steer negotiations with the Senate on more stimulus. ... Read full article

Financial institutions could testify before the bipartisan commission overseeing the unprecedented economic aid for industries hit by the COVID-19 pandemic. But without subpoena authority, the panel’s impact may be limited. ... Read full article

Minorities are often hit harder financially during a crisis, but if regulators move forward on revamping the Community Reinvestment Act, they’ll only make matters worse. ... Read full article

The heads of two congressional committees are requesting a briefing from the agency after a watchdog recommended improvements in how it prepares for crises. ... Read full article

Measures that delay the Current Expected Credit Losses standard and reduce a community bank capital ratio are temporary, but the industry now sees an opening to argue that they should be permanent. ... Read full article

Details of the $2 trillion deal were still fluid Wednesday, but lawmakers were closing in on a plan that would aim to put banks and consumers alike on stronger financial footing as they weather the coronavirus pandemic. ... Read full article

The bank’s former chair expressed regret over comments attributed to her in a House report, while Democrats and Republicans butted heads over whether the hearing was necessary. ... Read full article

The chairwoman of the House Financial Services Committee should call on regulators to take more aggressive steps with bad banking practices, starting with Wells. ... Read full article

House Democrats maintained their criticism of the bank during Charlie Scharf's first hearing, but Republicans suggested it is on better footing now that many top leaders have been replaced. ... Read full article

The chair of the House Financial Services Committee, Maxine Waters, contends that Tim Sloan knowingly made misleading and inaccurate comments during a hearing before her panel last year. ... Read full article

The House Financial Services Committee is still planning to have former Wells Fargo board members Betsy Duke and James Quigley testify after announcing their resignations. ... Read full article