Echoing House members, five Republican senators called on the Federal Reserve Board to rethink its surcharge in order to eliminate “excessive” capital requirements.
The Senate recess is postponing the committee's vote comes as Democrats press Kathy Kraninger on involvement with zero-tolerance immigration policy at OMB.
In a letter to heads of five Federal regulators, Sens. Elizabeth Warren, Sherrod Brown and Jeff Merkley say the public should know the impact of Volcker in light of proposed changes.
Kathy Kraninger, President Trump’s pick to run the CFPB, will testify before Congress on Thursday in what is likely to be a defining moment for her nomination.
The central bank has encountered criticism for allowing three banks to direct funds to dividends and buybacks even though their capital levels fell below required minimums.
