Items Tagged with 'Senate'

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Another Republican senator introduces bill to "dismantle" CFPB

Sen. Mike Rounds wants to cut off all CFPB funding
Sen. Ted Cruz, R-Texas, introduced a bill repealing Title X of the Dodd-Frank Wall Street Reform Act, which established the CFPB. But Cruz wasn’t alone last week in launching a full-scale assault on the controversial governmental agency. Sen. Mike Rounds, R-South Dakota, also introduced a bill last week that would kill off the CFPB, albeit in a different way than Cruz’s bill.
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Senate Republicans unveil bill to rein in CFPB spending

Want agency brought under Congressional appropriation process
The sharks swimming around the Consumer Financial Protection Bureau now appear to smell blood in the water. Now, those who defend the CFPB face another battle, as several Senate Republicans unveiled a bill this week that would give Congress oversight of the CFPB.
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Senate Republicans unveil bill to replace CFPB director with committee

Will the third time be the charm?
Sens. Deb Fischer, R-Nebraska; John Barrasso, R-Wyoming; and Ron Johnson, R-Wisconsin, introduced a bill this week that would replace the single director of the CFPB with a five-member bipartisan committee, a change the Republican Party has long pushed for. According to Fischer's office, this is actually the third version of this bill, which she previously introduced in 2015 and 2016 to no avail. But will the third time be the charm?
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Democrats want "victims of Mnuchin foreclosure machine" to testify at Treasury nominee hearing

25 senators call for OneWest customers to speak at Mnuchin's hearing
Senate Democrats recently began collecting complaints from consumers about Steve Mnuchin and OneWest Bank in preparation for Mnuchin’s confirmation hearing to serve as the next Secretary of the Department of the Treasury. What wasn’t known at the time is what exactly the Democrats planned to do with those complaints. But Friday, the Democrats showed their hand, asking the leadership of the Senate Committee on Finance to allow “victims of Mnuchin foreclosure machine” to testify at Mnuchin’s confirmation hearing.
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Here are the questions Elizabeth Warren wants Ben Carson to answer

Warren publishes 35 questions she wants Carson to answer in confirmation hearing
The eyes of the housing industry will be trained to Capitol Hill today, as Ben Carson, the former Republican presidential candidate, retired neurosurgeon, and President-elect Donald Trump’s choice to the lead the Department of Housing and Urban Development, appears for his confirmation hearing. In a letter sent to Carson in advance of his hearing, Sen. Elizabeth Warren revealed the questions she wants Carson to have an answer for when he appears before the committee – 35 of them, in all.
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Bernie Sanders: Wells Fargo's business model is fraud

Vermont senator joins Elizabeth Warren in skewering megabank
In what some might consider as much of a foregone conclusion as when Sen. Elizabeth Warren, D-Mass, expectedly lambasted Wells Fargo CEO John Stumpf when given the chance, Sen. Bernie Sanders took to the internet this week to share his views of Wells Fargo, and let’s just say the former Democratic presidential candidate isn’t a fan of the megabank either.
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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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Condo legislation passes in Senate, offers relief for homebuyers

Headed to president's desk
The Senate just unanimously passed a bill to help solve the affordability crisis. The condo bill passed the House back in February, and now just awaits President Obama's signature to become law. The National Association of Realtors lobbied heavily for the reform and says the new condo legislation will provide homebuyers with a more affordable option.
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