Bank prudential regulators Senate testimony: Live coverage - American Banker
Top U.S. banking regulators, including officials from the FDIC, OCC, NCUA, and the Federal Reserve, are scheduled to testify jointly before the Senate Banking Committee for the first time since January. They are expected to face questions regarding deregulatory initiatives, the use of disparate impact in lending practices, and recent changes in agency policies. This hearing occurs amid ongoing debates over regulatory reforms and agency approaches to racial equity and financial stability.
WASHINGTON — The nation's top banking regulators will offer joint testimony in the Senate Banking Committee Thursday morning and are expected to face tough questions about a number of deregulatory initiatives put forth by the administration.
Federal Reserve Vice Chair for Supervision Michelle Bowman, Comptroller of the Currency Jonathan Gould, Federal Deposit Insurance Corp. Chair Travis Hill and National Credit Union Administration Chair Kyle Hauptmann are slated to appear in their first joint testimony in the upper chamber since President Donald Trump's inauguration last January. Senate Democrats last year pressed committee chairtestified
The testimony comes at a time of major changes in the agencies and their policy trajectory. The FDICOCCwill be published
The evening before the hearing, some committee Democrats — including ranking member Sen. Elizabeth Warren, D-Mass. — wrote to the regulators about the lack of use of disparate impact to racially-motivated lending.
Democrats are also likely to ask about the rolling backnational trust chartersWorld Liberty Financial
Republicans, meanwhile, are expected to highlight the regulators' efforts to tailor regulations
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