Items Tagged with 'Senate Banking, Housing and Urban Affairs Committee'

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  • Senate Banking Committee approves Brian Montgomery to lead FHA

    Votes to send nomination to full Senate vote
    Brian Montgomery is now one step closer to leading the Federal Housing Administration for the second time. On Tuesday, the Senate Banking, Housing, and Urban Affairs Committee advanced Montgomery’s nomination to serve as FHA commissioner by an 18-5 margin.
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  • MBA urges Senate Banking Committee to pass Brian Montgomery nomination to lead FHA

    "Consider his nomination as expeditiously as possible"
    Ahead of the Senate Banking, Housing, and Urban Affairs Committee hearing on the nomination of Brian Montgomery to lead the Federal Housing Administration, the Mortgage Bankers Association sent a letter to the committee, urging them pass the nomination. So far, Montgomery has already gained a lot of support in the industry, unlike some of Trump’s more controversial picks.
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  • Wells Fargo to refund borrowers who improperly paid mortgage fees

    Pinpoints borrowers who received mortgage rate lock extensions
    Wells Fargo announced plans to refund borrowers who wrongly paid fees for mortgage rate lock extensions requested from Sept. 16, 2013, through Feb. 28, 2017. The plans to refund mortgage borrowers came out Tuesday as the U.S. Senate Committee on Banking, Housing and Urban Affairs grilled Wells Fargo CEO Tim Sloan on Tuesday over the its massive fake account scandal last year. Here are the official details on the plan.
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  • Wells Fargo CEO apologizes before Congress for accounts scandal

    One Senator’s response: You should be fired
    Wells Fargo CEO Tim Sloan testified before the Senate Banking, Housing and Urban Affairs Committee, saying he is “deeply sorry.” However, not everyone was moved by the CEO’s testimony, and one Senator even responded that he should be fired, and that the bank will not change with Sloan in charge.
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  • Yellen: Two Treasury reforms could send economy into recession

    Does not agree with all suggestions in Treasury report
    During her second day testifying before Congress, Federal Reserve Chair Janet Yellen explained, in her view, some recommendations in the recently released Treasury report on regulatory reform could send the economy spiraling into a new recession. As it stands, Yellen doesn’t currently expect another recession in the near future.
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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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  • Confirmation hearing for HUD nominee Ben Carson set for Jan. 12

    Carson to appear before Senate Committee on Banking, Housing, and Urban Affairs
    Over the last few days, Ben Carson, President-elect Donald Trump’s choice to lead the Department of Housing and Urban Development, met with several senators in preparation for his upcoming confirmation hearing. But Carson’s real moment of truth is coming soon, as the Senate Committee on Banking, Housing, and Urban Affairs announced Thursday that it set the date for Carson’s confirmation hearing.
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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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  • Labor Department launches "top-to-bottom" review of Wells Fargo

    Answers call from eight senators to open investigation
    Wells Fargo has its hands full these days. The beleaguered megabank is already facing a $185 million fine for the recent fake account scandal, which subsequently led to ongoing investigations from the House Financial Services Committee and the Department of Justice, not to mention a rough appearance before the Senate Banking Committee for Wells Fargo CEO John Stumpf. And now, the bank is facing a thorough review of its labor practices.
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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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