Today, we will learn more about the events and circumstances that led to the enforcement action against Wells Fargo by the Los Angeles City Attorney, the OCC, and the CFPB.
“For years I have worked to reform the flood insurance program to more accurately reflect the risk to homeowners, which in turn results in actuarially sound flood insurance premiums.
Flood insurance not only helps homeowners recover in the event of a flood, it also enables communities to reduce flood risk through the adoption of floodplain management standards. However, the program cannot be successful without accurate mapping and flood risk modeling.
Recently, we heard from a panel of experts on the appropriateness and effects of capital and liquidity rules. Their testimony highlighted the complexity of the current capital and liquidity regime.
Serving in his fifth term, Richard Shelby (R-Alabama) is the senior U.S. Senator from Alabama. He is currently the Chairman of the Senate Banking, Housing, and Urban Affairs Committee and also serves on the Senate Appropriations Committee and the Committee on Rules and Administration. He has been a member of the Banking Committee since he was elected to the Senate in 1986 and previously served as the Chairman in the 108th and 109th Congresses.
U.S. Senator Sherrod Brown (D-Ohio), now serving in his second term, also serves on the Senate's Agriculture, Finance, and Veterans Committees.
Prior to serving in the United States Senate, Brown served as a United States Representative for the 13th District, Ohio's Secretary of State, a member of the Ohio General Assembly, and taught in Ohio's public schools and at The Ohio State University.