WASHINGTON — Rep. Patrick McHenry, R-N.C., chairman of the House Financial Services Committee, has set a date for a hearing that specifically examines the Federal Deposit Insurance Corp.'s workplace culture on June 12.
McHenry, in the letter, demanded that Gruenberg testify at the second of two panels on June 12, to understand how Gruenberg "will address the FDIC's workplace culture as chairman."
"Your appearance is critical so that Congress can ensure its banking agencies are acting to maintain stability and public confidence in the nation's financial system," McHenry said.
Federal Reserve Chair Jerome Powell says crushing inflation is the most important thing the Fed can do to reduce costs in the housing market. Some economists and policy specialists say higher rates are not the only tool at its disposal.
Statewide Federal Credit Union in Flowood used its partnerships with Bankjoy and Strum Platforms to identify untapped communities in its field of membership and aggressively market its inaugural high-yield savings account.
The threat actor Sp1d3r posted an ad for the stolen data on Wednesday. Truist said the October breach is not related to a campaign by the same criminal group.
BNY, the country's oldest bank, drops "Mellon" from its branding; Apple FCU announces plans to merge with NextMark Credit Union; Moelis probes incident after a video circulated online shows one of its senior bankers appearing to punch a woman; and more in this week's banking news roundup.
The Federal Reserve Board and the bank itself say the enforcement action is the result of a routine inspection, but it comes amid the fintech's complicated high-profile bankruptcy.
The card network has developed a digital approach to delivering disbursements for disaster relief and other purposes via mobile devices, without requiring a separately downloaded app.