Items Tagged with 'House Financial Services Committees'

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Trump reportedly considering Rep. Jeb Hensarling to lead Treasury

House Financial Services Committee chairman to cabinet post?
In another indication of how President-elect Donald Trump plans to pursue financial reform, House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Texas, is reportedly being considered to serve as Secretary of the Treasury in the Trump administration.
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Wells Fargo heat turned up: Oregon wants big changes, California wants Stumpf to resign

Another state wants structural changes at embattled megabank
The hot seat Wells Fargo CEO John Stumpf currently resides on is nowhere close to cooling off, especially in the wake of Stumpf’s rough appearance Thursday before the House Financial Services Committee to discuss the bank’s fake account scandal. Now, two separate states are calling for significant changes at Wells Fargo, with one calling for Stumpf's resignation.
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Maxine Waters: I'm going to move forward to break up Wells Fargo

Ranking Member of House Financial Services Committee vows to break up bank
Throughout Wells Fargo CEO John Stumpf’s rough day in front of the House Financial Services Committee, multiple representatives called for the bank to be broken up, suggesting that the megabank is simply too big to manage effectively. But as the hearing neared its conclusion, the ranking member of the committee, Rep. Maxine Waters, D-Calif., went beyond her fellow representatives’ calls to break up Wells Fargo, stating that she is going to actually move to break up the bank.
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Wells Fargo CEO, former executive forfeit millions as bank launches investigation

Bank's board answers calls to claw back executive compensation
When Wells Fargo CEO John Stumpf appears before the House Financial Services Committee on Thursday for his next legislator-led beat down, he will do so with a lot less money in his wallet. The bank's board of directors announced Tuesday evening that it plans to claw back millions in stock options, bonuses, and other financial benefits from Stumpf, although the moves apparently weren’t enough for Stumpf’s loudest critic in Capitol Hill.
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FBR: Wells Fargo's next move is critical, for the bank and for the industry

CEO John Stumpf to face grilling on Capitol Hill
What happens over the next few days will go a long way in determining how Wells Fargo, and the banking industry as a whole, will weather the storm currently swirling around the megabank from the “widespread unlawful” practices of more than 5,000 former employees who opened more than 2 million fake accounts in order to get sales bonuses.
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House Financial Services Committee launches own investigation into Wells Fargo

Megabank already facing inquiry in Senate
Another shoe is about to drop on Wells Fargo, as the megabank attempts to weather the storm surrounding the $185 million fine levied against it for the “widespread unlawful” practices of more than 5,000 former employees who opened more than two million fake accounts in order to get sales bonuses. The bank is facing an investigation by the Department of Justice, an inquiry from the Senate Banking Committee, and now an investigation by the House Financial Services Committee.
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Congress set to consider Republican plan to abolish Dodd-Frank

House Financial Services Committee will debate Financial CHOICE Act next week
House Financial Services Committee Chairman Rep. Jeb Hensarling, R-TX made waves earlier this year when he announced a Republican-crafted plan to repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act and replace it with a “pro-growth, pro-consumer” alternative. Now, the Financial CHOICE Act is about take one step closer to becoming reality.
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Republicans demand answers from HUD's Castro on FHA non-performing loan sales

Hensarling calls for Castro to appear before House Financial Services Committee
Last week, HUD and the FHA announced the "most significant improvements to date" to its non-performing loan sales program. But House Financial Services Committee Chairman Jeb Hensarling, R-TX, is less than impressed with those changes, going so far as to question HUD, the FHA, and HUD Secretary Julián Castro's motivations for making the changes.
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