Wells Fargo announced Wednesday it was pledging $1 billion through 2025 dedicated to the affordable housing initiatives as part of the embattled lender’s goal to dedicate 2 percent of its after-tax profits to philanthropy.
Trading volumes are down, as U.S. Treasury notes hit a 20-month low.
Otting said his agency will vet the bank's CEO candidates.
The traditionally Wall Street-focused investment bank is pivoting to the consumer market.
The troubled lender is conducting a high-profile search for its next CEO.
Revenue in the lender's three main divisions all fell in 2018.
The hearing is the first with CEOs of the largest U.S. banks in a decade.
Buffett says a Wall Street executive would draw congressional ire.
The JPMorgan Chase CEO has trained many of the industry's next generation of leaders.
The company has faced pressure to overhaul its leadership amid continued scandals.
The stakes are high at Wells Fargo to turn the company around.
The hearing is expected to be the first in a series from Chairwoman Maxine Waters, D-Calif.
Well Fargo's Timothy Sloan will be in the hot seat on Capitol Hill Tuesday.
The outage affects ATMs, online and mobile banking.
The CFPB report was produced in 2017, but only released in Dec. 2018 as a result of a Freedom of Information Act request.
The bank had a profit of $6.15 billion, or $1.16 per share in the year ago quarter.
The settlement would also reportedly cover allegations of improper insurance referrals and incorrect mortgage rate lock extension fees.
Warren, who sits on the Senate Banking Committee, has long advocated for harsh disciplinary action against Wells Fargo.
