A discussion on how to modernize policies to combat housing discrimination quickly turned into a sharp critique of the social media giant's advertising practices.
The chairwoman of the House Financial Services Committee said Tim Sloan's resignation as CEO was "long overdue," but that other executives and directors should be removed as well.
Nearly a dozen Republicans joined all of the committee's Democrats in supporting the legislation, which would enable banks to serve legal marijuana businesses.
Banks and credit unions may be moving one step closer to federal legislation freeing them to serve legal pot businesses, but the path to enactment is still fraught with huge challenges.
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.
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.
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.
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.
