Maxine Waters

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.

[more]

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.

[more]

Regulators extend CRA comment period, bowing to congressional pressure

02/19/20

In a sudden reversal, the OCC and FDIC said they would push back the deadline to April for groups to weigh in on the proposal to modernize the Community Reinvestment Act.

[more]

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.

[more]

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.”

[more]

House Dems to CFPB chief: Use the authority Congress gave you

02/06/20

Members of the House Financial Services Committee chastised Kathy Kraninger for not supervising student loan servicers and failing to examine firms for compliance with the Military Lending Act.

[more]

Why House Democrats are at odds over rate cap bill

02/05/20

An intraparty rift went public Wednesday over legislation that would impose a 36% rate limit on all consumer loans. Critics are concerned it would cut off minority borrowers’ access to small-dollar loans and hurt some community banks.

[more]

As Trump touts economy, CRA reform looms large

02/05/20

Following the State of the Union speech Tuesday, Republican lawmakers hailed the president's economic record while Democrats continued criticism of an administration plan to reform the Community Reinvestment Act.

[more]

CFPB's hiring of former DOJ official could raise ire of Capitol Hill

01/30/20

The agency has named Thomas G. Ward as the bureau’s assistant director for enforcement. House Democrats have questioned Ward's role as a political appointee in the Trump administration.

[more]

Credit reporting bill passes House but faces long odds in Senate

01/30/20

No Republicans voted for the package of bills intended to overhaul the credit reporting system, casting doubt on its chances in the GOP-controlled Senate.

[more]