The data breach at Equifax and Facebook's scandals have made data privacy a big issue to state and federal lawmakers. Here's why banks need to be worried.
The House Financial Services Committee will hold eight hearings next month, looking at Wells Fargo's recent consumer protection scandals, a reauthorization of the flood insurance program and more.
Ahead of testimony by the CEOs of the major bureaus, House Financial Services Committee leaders proposed sweeping changes for the credit reporting industry and credit-score protections for furloughed government workers.
The New York congresswoman, who sits on the House Financial Services Committee, said the panel wants to make banks "accountable for investing in and making money off of the detention of immigrants."
After six years, Rep. Ed Perlmutter tells American Banker he is finally seeing some traction on his legislation to allow banks to serve legal marijuana businesses.
Congressional investigations are often rushed affairs that fail to dig beneath the surface. But the hiring of a veteran investigator who has tangled with Deutsche in the past suggests that this politically charged inquiry is likely to be thorough.
