House Financial Services Committee

Measures that delay the Current Expected Credit Losses standard and reduce a community bank capital ratio are temporary, but the industry now sees an opening to argue that they should be permanent.

Details of the $2 trillion deal were still fluid Wednesday, but lawmakers were closing in on a plan that would aim to put lenders and consumers alike on stronger financial footing as they weather the coronavirus pandemic.

The $2 trillion deal passed by the Senate late Wednesday would aim to put banks and consumers alike on stronger financial footing as they weather the coronavirus pandemic.

The bank’s former chair expressed regret over comments attributed to her in a House report, while Democrats and Republicans butted heads over whether the hearing was necessary.

The chairwoman of the House Financial Services Committee should call on regulators to take more aggressive steps with bad banking practices, starting with Wells.

The chair of the House Financial Services Committee, Maxine Waters, contends that Tim Sloan knowingly made misleading and inaccurate comments during a hearing before her panel last year.

House Democrats maintained their criticism of the bank during Charlie Scharf's first hearing, but Republicans suggested it is on better footing now that many top leaders have been replaced.

The House Financial Services Committee is still planning to have former Wells Fargo board members Betsy Duke and James Quigley testify after they announced their resignations.

The House Financial Services Committee is expected to question two of the bank's former board members, raising public scrutiny to a new level for bank directors.

The JPM CEO is “recovering well” as the bank’s two co-presidents assume control; the House finance chairwoman says the bank board members neglected their duty.

Most states have some kind of pricing limit on consumer loans. But proposals for a national usury law divide even Democrats, some of whom are concerned about restricting credit.

The bank said it was Sloan's decision to retire, but a new report from House Democrats reveals that Fed and OCC officials made moves behind the scenes in 2018 and 2019 to pressure the bank's board to remove him.

The bank's announcement comes a week before CEO Charlie Scharf and two board members will testify on Capitol Hill.

Rep. Blaine Luetkemeyer, R-Mo., said Congress has "got to be pushing back" against the Current Expected Credit Losses standard, while Rep. Steve Stivers, R-Ohio, indicated that not all Republicans view the cannabis banking issue the same way.

At a credit union conference, Rep. Blaine Luetkemeyer, R-Mo., said Congress has "got to be pushing back" against the Current Expected Credit Losses standard, while Rep. Steve Stivers, R-Ohio, indicated that not all Republicans view the cannabis banking issue the same way.

Deputy Director Brian Johnson spent more than two years serving under two separate CFPB directors. He will become a partner at Alston & Bird LLP next month.

The hearing will be one of three held by the House Financial Services Committee to scrutinize the bank next month.

The Trump administration proposes cutting personnel and other budgetary items at the bureau, while the agency’s director — who controls the purse strings and was hand-picked by the administration — aims to boost spending and hire more employees.

A study by the House Financial Services Committee on the industry’s efforts to hire and promote more women and minorities has sparked a dispute over whether banks should have to be more transparent about those efforts.

Federal Reserve Chair Jerome Powell reaffirmed his agency’s skepticism of a Community Reinvestment Act plan proposed by other regulators, and said the Fed has an important role to ensure banks “are resilient against the longer-term risks from climate change.”