The hearings before the Senate Banking Committee have high stakes for both companies, as lawmakers are expected to ask the CEOs whether they should be fired.
Lawmakers may feel differently about some elements in a Senate regulatory relief bill depending on whether CFPB Director Cordray is remaining in office until his term expires in July.
A mismatch of lawmakers from different parties and committees are wading into the aftermath of Equifax’s megabreach, with some using it to advance their policy agendas while others are calling for possible criminal prosecution.
Senate Banking Committee Chairman Sen. Mike Crapo, R-Idaho, said he is considering holding another hearing on Wells Fargo following the bank's recent missteps.
The nominations of Randal Quarles as Federal Reserve Board vice chairman and Joseph Otting as comptroller of the currency will now head to the full Senate.
House and Senate lawmakers formally filed resolutions on Thursday to repeal the Consumer Financial Protection Bureau's arbitration rule, but there were early signs that enacting them may prove challenging.
Despite assurances that the Department of Justice crackdown on banks' third-party relationships is ceasing, lawmakers say it is still having an impact.
