House Financial Services Committee

Members of the House Financial Services Committee chastised Kathy Kraninger for not supervising student loan servicers and failing to examine firms for compliance with the Military Lending Act.

An intraparty rift went public Wednesday over legislation that would impose a 36% rate limit on all consumer loans. Critics are concerned it would cut off minority borrowers’ access to small-dollar loans and hurt some community banks.

After the State of the Union speech Tuesday, Republican lawmakers hailed the president's economic record while Democrats continued criticism of an administration plan to reform the Community Reinvestment Act.

At a recent congressional hearing, OCC chief Joseph Otting showed just how far he might go in allowing reinvestment credits to lenders.

The agency has named Thomas G. Ward as the bureau's assistant director for enforcement. House Democrats have questioned Ward's role as a political appointee in the Trump administration.

The agency has named Thomas G. Ward as the bureau’s assistant director for enforcement. House Democrats have questioned Ward's role as a political appointee in the Trump administration.

Most stakeholders agree that the Community Reinvestment Act needs to be updated, but a congressional hearing featuring the regulator leading the overhaul effort showed just how contentious the process has become.

The Financial Services Committee will also hold hearings next month on monetary policy, the CFPB and "astroturfing" worries, among other things.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation garnered no Republican support.

The six bills championed by Democrats aim to reduce consumer burdens and provide opportunities for borrowers to rehabilitate their credit, but the legislation has garnered no Republican support.