The Congressional Research Service provided an overview of "selected banking-related issues that may attract congressional interest in the 117th Congress."
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The House Financial Services Committee considered (i) testimony from federal banking regulators on a broad range of concerns and (ii) several proposed bills imposing additional requirements on financial institutions.
Senate Banking Committee members questioned the CEO of Wells Fargo, and examined the regulatory response to the bank's opening of unauthorized accounts.
The House Financial Services Committee launched an investigation into the alleged opening of unauthorized accounts by a major financial institution. The Committee will review the roles of the CFPB and the OCC in overseeing this conduct.