Why is Sen. Richard Shelby (R-Alabama), Chairman of the Senate Banking Committee, asking the Government Accountability Office to conduct further study on the activities of the Federal Housing Finance Agency?
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CFPB Director Cordray to Testify In Full Senate Banking Committee Hearing July 15
In the last couple of weeks, the CFPB has been under fire for alleged discrimination against its employees and subsequent retaliation against the whistleblowers. Two of the whistleblowers testified last week in a subcommittee hearing in the House Financial Services Committee.
Read More »Report: Senator Drafting Proposal to Reform Federal Reserve
Senator Jack Reed (D-Rhode Island) has reportedly included in the draft of the legislation a provision that would make the appointment of the president of the Federal Reserve Bank of New York subject to Senate approval. Currently, the president of each of the 12 regional Federal Reserve Banks is selected by a search committee and subject to approval of the Federal Reserve Board of Governors.
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