House Financial Services Committee

A report from the Government Accountability Office found that while the Federal Home Loan banks have taken steps to improve diversity among boards of directors, members are still largely male and nonminorities.

The House Financial Services Committee debated legislation Wednesday to reform and reauthorize the National Flood Insurance Program, but no clear solution emerged.

Wells Fargo CEO Tim Sloan said that the megabank has worked to address past issues and is equally committed to preventing new problems from arising, despite reports suggesting otherwise.

In the face of tough questioning from House members, CFPB Director Kathy Kraninger appeared mostly unfazed and tried to strike a balance between heeding concerns about the agency’s power and supporting its mission to help consumers.

The legislation comes a day before CFPB Director Kathy Kraninger is set to testify to Congress.

The root of the credit reporting sector’s problems may be its dominance by a handful of big firms, lawmakers from both parties said at a hearing.

The House Financial Services Committee will hold eight hearings next month, looking at Wells Fargo's recent consumer protection scandals, a reauthorization of the flood insurance program and more.

Ahead of testimony by the CEOs of the major bureaus, House Financial Services Committee leaders proposed sweeping changes for the credit reporting industry and credit-score protections for furloughed government workers.

Rep. Blaine Luetkemeyer, R-Mo., told the mortgage giants' chief federal regulator that the Financial Accounting Standards Board’s new model for estimating loan losses could pose risk across the mortgage market.

House Financial Services Chairwoman Maxine Waters said the merger is a direct result of a regulatory relief bill that was signed into law in May.