The House Financial Services Committee is examining sexual harassment charges against FHFA director Watt. American Banker reporter Hannah Lang offers her take.
Readers parse JPMorgan Chase CEO Jamie Dimon's latest public comments, debate a California small-lending bill, weigh the impact of open banking and more.
In a surreal echo of the Kavanaugh-Ford hearing, Federal Housing Finance Agency Director Mel Watt and an employee he is accused of harassing, Simone Grimes, testified before a House panel about the allegations.
As the House Financial Services Committee prepares to hold a hearing Thursday on oversight of the Federal Housing Finance Agency, the exact focus of the hearing remains somewhat in flux.
The agency’s director will appear with Fannie Mae CEO Timothy Mayopoulos at a hearing on FHFA's role as conservator, despite earlier rumors suggesting Watt might be a no-show.
The agency’s director has been under pressure to quit as he is investigated for sexual harassment allegations, but an agency spokesperson says he still plans to testify at a housing finance hearing slated for later this month.
Freddie Mac is promoting Executive Vice President David Brickman to president and will consider him among possible candidates to be the agency's next CEO after Don Layton retires next year.
Maybe political winds or another downturn will spark housing finance reform. But 10 years after the conservatorships began, the companies are still in perpetual limbo.
The employee who made sexual harassment allegations against the agency’s director also claims Watt withheld her pay increase after she refused his advances.
