In letters to the Treasury secretary and CEOs of the largest banks, the Massachusetts Democrat questioned why Mnuchin was trying to quell liquidity fears that had not previously been mentioned by regulators.
A CFPB report revealed that the fees charged to college students by Wells Fargo for financial products are three times higher than average. Sen. Warren wants to know why.
Sen. Elizabeth Warren questioned the five largest U.S. retail banks in a letter on what they are doing to reduce the impact of the government shutdown on customers.
The deal, valued near $22 billion, will combine two of the financial services industry's largest tech and processing firms; both banks top expectations.
Now that Wells must abide by the central bank's asset cap through year-end, it may have to divest more nonessential assets and take other steps to open up room for core loan growth.
Wells Fargo & Co. is planning to operate under a Federal Reserve asset cap through the end of 2019, rather than just the first half of the year, as it takes longer than anticipated to correct issues in its consumer business.
The bank missed expectations although profit rose 67%; with the California Democrat leading the House Financial Services Committee, deregulation could slow.
