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Diversity In Action: Holding Banks Accountable
On Wednesday, Congresswoman Maxine Waters (D-CA), Chairwoman of the Committee on Financial Services, and Congresswoman Joyce Beatty (D-OH), Chair of the Subcommittee on Diversity and Inclusion, released a multimedia Majority staff report entitled, “Diversity and Inclusion: Holding America’s Large Banks Accountable.”
Take a look at some of the report’s highlights covered in the news this week.
…and here is Chairwoman Waters’ take during an appearance on CNBC’s The Exchange
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As Seen on FSC-TV
In case you missed this week’s hearings, see below for a snippet of the infographics displayed on the hearing room big screens.
February 11: Full Committee Hearing with Federal Reserve Chairman Jerome Powell.
February 12: Subcommittee Hearing on Bank Diversity.
February 12: Task Force Hearing on Economic Algorithms.
Chairwoman's Corner
 
Protecting Homeowners from Appraisal Loopholes:
This week, Chairwoman Waters and Congressman Wm. Lacy Clay (D-MO), Chairman of the Subcommittee on Housing, Community Development and Insurance, sent a letter to the Comptroller General of the U.S. Government Accountability Office (GAO), requesting a comprehensive study on the implementation of Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) by the relevant federal agencies.
In the letter, Chairwoman Waters and Subcommittee Chairman Lacy Clay highlighted the law’s importance in ensuring the safety and soundness of our financial system and that homeowners are protected from mortgages with inaccurate valuations.
Click here for the full text of the letter.
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Member Spotlight
| Congresswoman Ayanna Pressley (D-MA) |
"And so, after Dr. King’s assassination, Coretta Scott King picked up the mantle, pushing the Fed to adopt a full employment mandate, and was actually standing behind President Carter as he signed the Humphrey-Hawkins Act into law. And that’s the reason you are here today.”
Powell, somewhat stunned, replied candidly:
“First, thank you for that history, I didn’t know that. So that’s our goal, that’s what we’re working to do at all times,” Powell said about full employment.“
- Forbes on an exchange between Federal Reserve Chairman Jerome Powell and Congresswoman Pressley during Tuesday’s semiannual Humphrey-Hawkins hearing on monetary policy and the state of the economy.
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