House Financial Services Committee

Dimon has emergency heart surgery; Waters wants two off Wells' board

03/06/20

The JPM CEO is “recovering well” as the bank’s two co-presidents assume control; the House finance chairwoman says the bank board members neglected their duty.

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Will the U.S. ever enact a national interest rate cap?

03/05/20

Most states have some kind of pricing limit on consumer loans. But proposals for a national usury law divide even Democrats, some of whom are concerned about restricting credit.

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How regulators maneuvered to oust Tim Sloan at Wells Fargo

03/05/20

The bank said it was Sloan's decision to retire, but a new report from House Democrats reveals that Fed and OCC officials made moves behind the scenes in 2018 and 2019 to pressure the bank's board to remove him.

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Wells Fargo boosts minimum wage in most of its U.S. markets

03/04/20

The bank's announcement comes a week before CEO Charlie Scharf and two board members will testify on Capitol Hill.

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House lawmakers give update on CECL, pot banking

02/26/20

At a credit union conference, Rep. Blaine Luetkemeyer, R-Mo., said Congress has "got to be pushing back" against the Current Expected Credit Losses standard, while Rep. Steve Stivers, R-Ohio, indicated that not all Republicans view the cannabis banking issue the same way.

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CFPB's No. 2 to leave agency for law firm

02/25/20

Deputy Director Brian Johnson spent more than two years serving under two separate CFPB directors. He will become a partner at Alston & Bird LLP next month.

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Wells Fargo CEO to testify before House lawmakers in March

02/21/20

The hearing will be one of three held by the House Financial Services Committee to scrutinize the bank next month.

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Kraninger wants more money for CFPB. White House has a different plan.

02/20/20

The Trump administration proposes cutting personnel and other budgetary items at the bureau, while the agency’s director — who controls the purse strings and was hand-picked by the administration — aims to boost spending and hire more employees.

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House lawmakers at odds over requiring banks to report diversity data

02/12/20

A study by the House Financial Services Committee on the industry’s efforts to hire and promote more women and minorities has sparked a dispute over whether banks should have to be more transparent about those efforts.

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House lawmakers press Powell on CRA, climate change, stress tests

02/11/20

Federal Reserve Chair Jerome Powell reaffirmed his agency’s skepticism of a Community Reinvestment Act plan proposed by other regulators, and said the Fed has an important role to ensure banks “are resilient against the longer-term risks from climate change.”

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