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Jul 20, 2024
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there would not be 70+ fdic's. there would be one fdic with all employees following the rules in the same way. >> thank you. discuss how your tenure as -- at sigtarp informed your understanding of our banking system and prepared you to lead this fdic into its next much better chapter. >> yeah. thank you, senator. sigtarp is really deep into banks at the worst time in our nation's history. we work inside the same confidential supervisory privilege that fdic and other regulators hold and we were dealing with failed banks all the time and think that were in trouble. so we were actively monitoring all the 700+ banks in t.a.r.p. and making recommendations to treasury. a lot of those were community banks that we are having trouble getting out of t.a.r.p. and that we were following all of that and their health and condition. following investigations, we prosecutor more than 100 bankers, more than 90 bank farmers. so we will go into banks, just like a bank examiner does, and we would analyze all the books and records. the
there would not be 70+ fdic's. there would be one fdic with all employees following the rules in the same way. >> thank you. discuss how your tenure as -- at sigtarp informed your understanding of our banking system and prepared you to lead this fdic into its next much better chapter. >> yeah. thank you, senator. sigtarp is really deep into banks at the worst time in our nation's history. we work inside the same confidential supervisory privilege that fdic and other regulators hold...
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Jul 20, 2024
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the fdic's chairman will fix it. that's the same as the fdic's chairman who had been at the agency since god was the corporal and under whom all this stuff happened. and that did not prevail but here's the way i read the report. ninety-seven people at that agency reported 145 separate incidents of sexual assault. ninety-one others 141 separate incidents of gender or sexuality -based discrimination. hundred 87 people reported 320 separate incidents of verbal abuse. over 500 people, about 10% of the agency about discrimination, harassment and mistreatment they faced. hosted to all the rightd words. we talk about accountability. refurbishing the tarnished reputation. you talk about listening. i appreciate all ofac that. the phrase that got my attention was this will not be tolerated. if you want to do that what you need to do before you do your listening tours when all that other stuff. you need to investigate every one of these allegations. and find out if they are true. and if they are true the person responsible shou
the fdic's chairman will fix it. that's the same as the fdic's chairman who had been at the agency since god was the corporal and under whom all this stuff happened. and that did not prevail but here's the way i read the report. ninety-seven people at that agency reported 145 separate incidents of sexual assault. ninety-one others 141 separate incidents of gender or sexuality -based discrimination. hundred 87 people reported 320 separate incidents of verbal abuse. over 500 people, about 10% of...
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Jul 3, 2024
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you mentioned the fdic. you feel safe if you're under the deposit limit with the fdic. they say no depositor has lost a penny since 1934 when it was created. what is the response to this these situations when fintech is partnering with banks? >> obviously, the fintech revolution has been 10 or 15 years going so this is new situation we are in which is post the collapse, the fdic has been really, really clear which is if a fintech blows up, i mean, their words if a nonbank blows up but if a fintech claps that doesn't necessarily trigger fdic coverage and you may or may not get your funds through bankruptcy proceedings which could take a while. even sort of the fdic pass-through coverage which is what all of these fintech appears are relying on to pass through coverage and that may or may not be the case because the company has to title it and keep records in a specific way to get that coverage. the real takeaway is -- the fdic is pretty explicit saying if this is your day-to-day money you may want to be careful about where you keep it and you may want to keep it at a rea
you mentioned the fdic. you feel safe if you're under the deposit limit with the fdic. they say no depositor has lost a penny since 1934 when it was created. what is the response to this these situations when fintech is partnering with banks? >> obviously, the fintech revolution has been 10 or 15 years going so this is new situation we are in which is post the collapse, the fdic has been really, really clear which is if a fintech blows up, i mean, their words if a nonbank blows up but if...
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Jul 9, 2024
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as of the conversation we are having leadership from the fdic's. my hope is will be able to come together around a way to proceed forward. i hope we would have done so by now but i'll be -- but i believe we would have done so soon. >> i look forward to working with you to strengthen this economy. for senators who wish to submit questions for the hearing record, they are due one week from today july 16. to chair powell, please make your responses to questions for the rest no more than 45 days from the date you receive them thank you for your testimony. >> we are still hovering at a record high up about 2/10 of a percent to take a look at the nasdaq 100. record highs on the stock market. the bond market, it is a small move but it is a move nonetheless. you have seen yields climb at the long end. currently up three basis points on the 10-year gilts should back above 430. we are going to unpack what jerome powell said and what the follow-through to markets is to >> if -- markets is checked >> one chart of the 10 year yield moving throughout the day, he
as of the conversation we are having leadership from the fdic's. my hope is will be able to come together around a way to proceed forward. i hope we would have done so by now but i'll be -- but i believe we would have done so soon. >> i look forward to working with you to strengthen this economy. for senators who wish to submit questions for the hearing record, they are due one week from today july 16. to chair powell, please make your responses to questions for the rest no more than 45...
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Jul 11, 2024
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from my perspective, the fdic is in a. of uncertainty, the current chairman and i think he will resign to restore confidence in his agency and the replacement is awaiting senate confirmation hearings. we have an acting comptroller who has not yet been confirmed by the senate at the occ. at the very least, given the expected broad revisions, i hope the other agencies agree a complete proposal would be appropriate. chairman, could you give me some indication of what the potential timeline around such a repose might look like a trick >> is pretty uncertain but i will give it a shot. i will say again that these discussions we've been having with the other two agencies have been very constructive and we very much want that to continue. we've got really good agreement on the substance and now it is about the process. a baseline might be that we agree on a re-proposal of some kind, you know, that gives the public a chance to see these changes and react to them and write comment letters. that could happen. it would take us a while
from my perspective, the fdic is in a. of uncertainty, the current chairman and i think he will resign to restore confidence in his agency and the replacement is awaiting senate confirmation hearings. we have an acting comptroller who has not yet been confirmed by the senate at the occ. at the very least, given the expected broad revisions, i hope the other agencies agree a complete proposal would be appropriate. chairman, could you give me some indication of what the potential timeline around...
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Jul 1, 2024
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this committee has over cited fdic.al discrimination with the guard employees. that is disturbing when you are that low, can you tell me fix t■ problem? >> one of the things on a repeatedsigreatest resource. one of the areas that i was very intense on after being where we were as it relates to staff more out in terms of to s xm if i look at the scores that werebain2005 always been at the lower 1/5 category . that data was systemic historical challenge. there are opportunities for us to one of the things that i began to do was hire human capital. i the questi my time is up. with that, we go to the lady from ohio. >> thank you, mr. chairman. just for the record, s proud to be here and i was associating that was when we re- establhed e ranking water leadership after seven years. for my first question, let me continue what the ying. he is correct with what we thought about fdic and what was i will give you some time to finish her statement now. d was bring one of the big four to work with our training and development. we hi
this committee has over cited fdic.al discrimination with the guard employees. that is disturbing when you are that low, can you tell me fix t■ problem? >> one of the things on a repeatedsigreatest resource. one of the areas that i was very intense on after being where we were as it relates to staff more out in terms of to s xm if i look at the scores that werebain2005 always been at the lower 1/5 category . that data was systemic historical challenge. there are opportunities for us to...
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Jul 11, 2024
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greenberg and his resignation amid allegations of sexual harassment and a toxic workplace at the fdicseveral of presint biden's nominations will also testify. see the hearis live at 10:00 a.m. eastern on c-span three, c-span now, our free mobile app, or online at c-span.org. ♪ >> c-span is your unfiltered view of government. we are funded by these television companies and more, including comcast. >> you think this is just a community center? now, it's way more than that. >> comcast is partnering with 1,000 community centers to create wi-fi-enabled liftzones so students from low-income families can get the tools they need to get them ready for anything announcer: comcast supports c-span as a public service, along with these oth television providers, giving you a front-row seat to democracy. ♪ >> we welcome you to a great national crusade to make america great again. >> it is a dream earned. >> taxes will go up. and anyone who says they won't is not telling the truth. >> that our beloved nation at peace, we are in the midst of a springtime of hope for america. >> because we are the part
greenberg and his resignation amid allegations of sexual harassment and a toxic workplace at the fdicseveral of presint biden's nominations will also testify. see the hearis live at 10:00 a.m. eastern on c-span three, c-span now, our free mobile app, or online at c-span.org. ♪ >> c-span is your unfiltered view of government. we are funded by these television companies and more, including comcast. >> you think this is just a community center? now, it's way more than that. >>...
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Jul 11, 2024
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he announced his resignation on allegations of sexua harassment and a toxic workplace at the fdic. of psident biden's nominations will also testify. see thhearing life at 10:00 a.m. eastern oc-span three, c-span now, our free mobile video out, or online at c-span.org. ♪ >> welcome into a great national crusade to make america great again! >> that has been earned. >> taxes will go up, and anyone who says they won't is not telling the truth. >> that our beloved nation at peace, we are in the midst of the springtime of hope for america. >> because we are the party that believes in the american dream. >> read my lips. no new taxes. [applause] >> i still believe in a place called hope. >> here's the question for the american people, who do you trust in the selection? >> that real choice is whether we will build a bridge to the future or to the past? >> the wisdom of our people in the future of our country. >> five stand here tonight of my own man and i want you to know me for who i truly am. >> they had their chance. they have not led. we will. >> i am john kerry, and i, reporting! >>!
he announced his resignation on allegations of sexua harassment and a toxic workplace at the fdic. of psident biden's nominations will also testify. see thhearing life at 10:00 a.m. eastern oc-span three, c-span now, our free mobile video out, or online at c-span.org. ♪ >> welcome into a great national crusade to make america great again! >> that has been earned. >> taxes will go up, and anyone who says they won't is not telling the truth. >> that our beloved nation at...
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Jul 10, 2024
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the fed, the fdic proposed endgame last july.then an october the fed began the collection of data conducted a quantitative impact study on the cost of the proposal a study i will note should have been conducted before any proposal was ever issued. before january of thisbe year ve chair committed to public comment. results of the study were published we are still waiting to view the results. keep in mind all the while we are hearing rumors the fed is working on revising its proposal and moving towards an updated version. help me understand how the fed will revise the reissue of capitol proposal before receiving some public comments? >> as you know we have received extensive public comments. we have also evaluate the quantitative impact server you mention. the idea it would be we do reach agreement with the other agenciesests fully we would pubh the proposed changes in the quantitative impact survey the effects suggest the changes would have will put all of that for comment again for a period of time and then having yet another rou
the fed, the fdic proposed endgame last july.then an october the fed began the collection of data conducted a quantitative impact study on the cost of the proposal a study i will note should have been conducted before any proposal was ever issued. before january of thisbe year ve chair committed to public comment. results of the study were published we are still waiting to view the results. keep in mind all the while we are hearing rumors the fed is working on revising its proposal and moving...
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Jul 22, 2024
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or state-chartered one, you're probably looking at fdic and the federal reserve, i'm sorry, the fdicmendous power over all of those banks. so anyway, i would like to see more competition across states to get this going. however, remember, there's federal folks everywhere. ed: thank you. you're looking at live pictures from the white house. that is the championship teams of the national collegiate athletic association gathering at the podium. we await vice president harris, who's due to deliver marks. very quickly go out to washington, d.c., bloomberg's kailey leinz. we talked about one candidate versus another and what harris may or may not say. >> yeah, this would be the first introduction to vice president kamala harris as not just the vice president, but as a democrat seeking the nomination just a matter of weeks from now. this is her first official event since announcing she does intend to win and earn that nomination. this is going to be very high-profile for her, and i would point out this is not the only time that harris will be at an event today. she just tweeted or posted on
or state-chartered one, you're probably looking at fdic and the federal reserve, i'm sorry, the fdicmendous power over all of those banks. so anyway, i would like to see more competition across states to get this going. however, remember, there's federal folks everywhere. ed: thank you. you're looking at live pictures from the white house. that is the championship teams of the national collegiate athletic association gathering at the podium. we await vice president harris, who's due to deliver...
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Jul 22, 2024
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the fed, the fdic, last july. then cut in october, the fed began the collection of data to conduct a connotative impact study on the cost of this proposal. the study which should've been conducted before any proposal was ever issued. we move forward to january this year, committed to a public comment period once the results of the study were published. we are still waiting to view the results. keep in mind, all the while, we are hearing rumors that the fed is working on revising this proposal and moving towards an updated version. please help me understand how the fed revised and reissued the capital proposal before receiving public comments. >> as you know, we have received extensive public comments and we have also evaluated the quantitative impacts survey that you mentioned. the idea would be that when we do reach agreement with the other agencies fully that we would publish the proposed changes and also the quantitative impacts survey. and also the effects that the qis suggest the changes would have. so put th
the fed, the fdic, last july. then cut in october, the fed began the collection of data to conduct a connotative impact study on the cost of this proposal. the study which should've been conducted before any proposal was ever issued. we move forward to january this year, committed to a public comment period once the results of the study were published. we are still waiting to view the results. keep in mind, all the while, we are hearing rumors that the fed is working on revising this proposal...
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Jul 9, 2024
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we're working through that question with the fdic and occ.ment on that, but i am very hopeful that we will. you know, we're prepared to move forward at that -- when we do reach agreement on that. >> i appreciate most of your response, sir. i do want to discuss one aspect more of basel before we move on to another topic. i find it very concerning with how much of this proposal, this process, appears to have been done behind closed doors. the fed, the fdic, proposed basel iii endgame in last july. in october the fed began the collection of data to conduct a quantitative impact study on the cost of the basel iii proposal, a study i will note should have been conducted before any proposal was ever issued. move forward to january of this year, vice chair barr committed to a public comment period once results of the study were published. we are still waiting to view the results. keep in mind, all the while we're hearing rumors that the fed is working on revising its proposal and moving towards ap updated version. please help me understand how will
we're working through that question with the fdic and occ.ment on that, but i am very hopeful that we will. you know, we're prepared to move forward at that -- when we do reach agreement on that. >> i appreciate most of your response, sir. i do want to discuss one aspect more of basel before we move on to another topic. i find it very concerning with how much of this proposal, this process, appears to have been done behind closed doors. the fed, the fdic, proposed basel iii endgame in...
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Jul 10, 2024
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we're working through it with our colleagues at the fdic and occ.se will be though we're making material changes and that we would want the public to have a chance to look at those changes in the light of the way they play off against the kwan tayive impact survey and should have a reasonable time to comment on those. in addition, we're focused on one big area. but they're institutions that have made comments across the spectrum and reading those carefully. we're not going to, you know, republish all of those. some of those we can make changes and move forward on. so that's -- it's going to be a very labor intensive, time consuming process. writing these things uptakes a long time. we'll get it right. >> that's great. obviously you know, canada recently postponed as did the eu and uk for international competition standpoint. it seems to make sense. so that's appreciated. chairman, would you agree that excessive spending increased taxes, limits on domestic energy production in principle are cause for higher costs for business, contributes to inflatio
we're working through it with our colleagues at the fdic and occ.se will be though we're making material changes and that we would want the public to have a chance to look at those changes in the light of the way they play off against the kwan tayive impact survey and should have a reasonable time to comment on those. in addition, we're focused on one big area. but they're institutions that have made comments across the spectrum and reading those carefully. we're not going to, you know,...
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Jul 10, 2024
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see a revised basel proposal put out for public comment and you are working through the process with fdic's and occ. from my perspective, the fbi see is in a period of uncertainty, current chairman announcing he will resign into restore confidence, and the replacement is awaiting senate confirmation. at the occ, we having acting comptroller not confirmed by the senate. at the very least, given the expected broad revisions, i hope the other agencies agree that a complete re-proposal would be appropriate. could you give me some indication of what the potential timeline around such a decision we proposed might look like? chair powell: it is pretty uncertain but i will give it a shot. i will say again, these discussion we've been having with these other agencies have been very constructive, very much want that to continue. we have pretty good agreement on the substance. now it's about the process. a baseline might be that we agree on a re-proposal of some kind that gives the public a chance to see these changes and react to them, right comment letters. that could happen. it would take is allowe
see a revised basel proposal put out for public comment and you are working through the process with fdic's and occ. from my perspective, the fbi see is in a period of uncertainty, current chairman announcing he will resign into restore confidence, and the replacement is awaiting senate confirmation. at the occ, we having acting comptroller not confirmed by the senate. at the very least, given the expected broad revisions, i hope the other agencies agree that a complete re-proposal would be...
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Jul 7, 2024
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you are a member of the fdic's board of directors. he also played a role in forcing mr. gutenberg's predecessor, who was working to address the abusive behavior within the fbi see and trying to address employees. you've also not directly, that on chairman gruenberg's mistreatment of his staff. it is safe to assume that if this were a private sector clinicians addition, you would quickly call for the removal of his leadership. instead, we see partisanship on full display once again. i urge you to stop putting politics ahead of people and work with and help improve the financial services marketplace. i will now recognize the ranking member of the full committee, the gentlewoman from california, for opening statements. >> thank you very much, mr. chairman. let me first say to director rohit chopra, thank you for your patience this morning. i know you have been waiting for about 45 minutes. i'm very pleased that you took the time to not only recognize, you know, many of the members that you work with, and i also want to thank mr. mchenry, despite the fact that he waited, he
you are a member of the fdic's board of directors. he also played a role in forcing mr. gutenberg's predecessor, who was working to address the abusive behavior within the fbi see and trying to address employees. you've also not directly, that on chairman gruenberg's mistreatment of his staff. it is safe to assume that if this were a private sector clinicians addition, you would quickly call for the removal of his leadership. instead, we see partisanship on full display once again. i urge you...
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Jul 12, 2024
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the fdic says banks have had $517 billion in unrealized losses for over two years.gulators call that high. it could offset the weakness as dealmaking begins to come back. we have stephen biggar with more. >> good morning. >> let's start with the biggest metric for the banks. net interest income. the spread of what banks make on loans compared to deposits. i want to ask you as we see more people go to the high yielding products, how does that impact the metric? >> frank, we expect fairly loan growth this quarter compared to similar quarters as the elevated interest rates are higher and borrowing costs are reducing loan demand. that's not going to change, i don't think, until we get some lower rates here and meaningful lower rates. as you mentioned the net interest margins are still under a bit of pressure here as the consumers are shifting still somewhat to higher interest bearing deposit accounts from non-interest bearing. that has put pressure on that. year over year, we are still seeing weakness in margins. the good news is that the second quarter here is expected
the fdic says banks have had $517 billion in unrealized losses for over two years.gulators call that high. it could offset the weakness as dealmaking begins to come back. we have stephen biggar with more. >> good morning. >> let's start with the biggest metric for the banks. net interest income. the spread of what banks make on loans compared to deposits. i want to ask you as we see more people go to the high yielding products, how does that impact the metric? >> frank, we...
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Jul 19, 2024
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i reached out to banking regulators as well, kelly, and the fdic declined to comment.ed said its federal critical reserve systems are operating normally. i haven't heard back yet from the occ, kell. >> alarming when something this simple or basic can cause such problems. >>> let's turn to the airlines, where passengers around the world find themselves stranded as carriers deal with the blackout. phil lebeau with the latest on that front. phil? >> reporter: kelly, it started in europe early this morning when we started seeing long lines, flight cancellations, very few flights taking off at some of the largest airports here in europe. then when it cot across the atlantic and hit the east coast of the united states, even by the time americans said, you know what? we're going to lift the ground stop shortly before 6:00 a.m., it was too late. so many flights had been cancelled or delayed. here are the numbers, at least as we understand it, according to flight away, as you take a live look at laguardia. we've seen this at a ton of airports today, people who are there, waitin
i reached out to banking regulators as well, kelly, and the fdic declined to comment.ed said its federal critical reserve systems are operating normally. i haven't heard back yet from the occ, kell. >> alarming when something this simple or basic can cause such problems. >>> let's turn to the airlines, where passengers around the world find themselves stranded as carriers deal with the blackout. phil lebeau with the latest on that front. phil? >> reporter: kelly, it started...
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Jul 1, 2024
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in fact, there's an organization called the and see which is equivalent to the fdic. >> and they oversee credit unions. and this morning called them and in order to log a complaint and they said we've been flooded with calls over patel co. and as you know, she actually went inside to go try to the bank. and what was your experience trying to walk in right now? i want to go into the lobby. i know they open at 10. i wanted to be at the front of the line, but evidently the building or patel co hired extra security. like a police officer looking person and he said you can't come in a minute before 10. so you know, i'm gonna have to come back. but, you i'm sure all the branches are going to have a flood of people. well, thank you so much for chatting with here in a pre she ate showing this on the news. we've been also copping a lot of the news organizations on our twitter responses. well, thank you so much. i appreciate you. and, you know, just to give you all more details in a sense of what she was saying when it comes to those posts online. essentially they were saying you're not to be able
in fact, there's an organization called the and see which is equivalent to the fdic. >> and they oversee credit unions. and this morning called them and in order to log a complaint and they said we've been flooded with calls over patel co. and as you know, she actually went inside to go try to the bank. and what was your experience trying to walk in right now? i want to go into the lobby. i know they open at 10. i wanted to be at the front of the line, but evidently the building or patel...
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Jul 11, 2024
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he announced his resignation amid allegations of sexual harassment and a toxic workplace at the fdic. several of president biden's nominations will also testify. see the hearing live at 10:00 a.m. eastern on c-span3 , c-span now, our free mobile video apps, or online at c-span.org. >> c-span's campaign 2024 takes you live to milwaukee for coverage of the republican national convention. tune in monday as delegates from across the country gather to select their republican nominee for president. watch as they lay out their priorities for the next four years and their party's vision for the next two years. the republican national convention, live on c-span or online at c-span.org. c-span, your unfiltered view of the conventions. >>> a look now at concerns regarding climate change and water scarcity. water policy experts from several western states were joined by science and environmental professors to testify before the senate budget committee. this is about an hour and a half. ackground noises]
he announced his resignation amid allegations of sexual harassment and a toxic workplace at the fdic. several of president biden's nominations will also testify. see the hearing live at 10:00 a.m. eastern on c-span3 , c-span now, our free mobile video apps, or online at c-span.org. >> c-span's campaign 2024 takes you live to milwaukee for coverage of the republican national convention. tune in monday as delegates from across the country gather to select their republican nominee for...
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Jul 10, 2024
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and that's a joint rule-making between the fed, the fdic, the occ, we have the fdic chair who is in thebiden administration for the, you know, the comptroller currency overseas banks. they had a four-year acting in that position because the first person they nominated couldn't get confirmed. then they can't figure out how to get elizabeth warren happy with the other nominee. they're trying to rush this before the election, which tells me it is really about progressive politics and election nearing than it is about sound economics and how to regulate banks. we'll take action if they don't repropose and i think that's the message that you'll hear clearly out of today's hearing. >> what about the crypto bill? do you have votes to overturn president biden's veto, you need two-thirds and the senate, i can't imagine. >> a lot's changed since we had this original vote. and this -- the original vote in the house, we had 21 republicans -- 21 democrats join with the republicans to repeal this biden rule that says you have to hold crypto like it is some other object not like you hold banks traditi
and that's a joint rule-making between the fed, the fdic, the occ, we have the fdic chair who is in thebiden administration for the, you know, the comptroller currency overseas banks. they had a four-year acting in that position because the first person they nominated couldn't get confirmed. then they can't figure out how to get elizabeth warren happy with the other nominee. they're trying to rush this before the election, which tells me it is really about progressive politics and election...
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Jul 10, 2024
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student loans, the fbi see actions on medicaid -- fdic actions on medicaid. >> through executive d op they added a $2 trillion. >> that's right, between student loans and the other pieces, there is several hundred billion dollars of additional. >> if we followed the budget act of 1974, and all the additions, where the president submitted a budget on time. if we did a meaningful bipartisan senate budget resolution, and we went back to regular order, and the house did their job. if we did a real budget, would that have impact on how much money we spend, and is that something you could generate a cbo score for? >> we would support the congress in doing that. it is hard to say what the outcome would be. regular order would certainly be a change. >> you worked in the private sector to do a meaningful budget and use that as a blueprint and not allow an administration to tack on like you mentioned almost a trillion dollars in executive spending group fiat, which is unconstitutional the way they did it, we mentioned the 2024 budget will spend $2 trillion more than we take in this year, the ad
student loans, the fbi see actions on medicaid -- fdic actions on medicaid. >> through executive d op they added a $2 trillion. >> that's right, between student loans and the other pieces, there is several hundred billion dollars of additional. >> if we followed the budget act of 1974, and all the additions, where the president submitted a budget on time. if we did a meaningful bipartisan senate budget resolution, and we went back to regular order, and the house did their job....
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Jul 12, 2024
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so student loans, fdic, actions on medicaid that, right, we are providing you with the current law speededthrough executive fiat added my good as three or four, migrants against about a trillion dollars. >> that's right, between student loans and the other pieces. there several hundred billion dollars. >> do you have the ability to score if we did our job come if we follow the budget act of 1974 and all the additions where the president submitted a budget on time, if we did a meaningful bipartisan senate budget resolution and we were back to regular order and the house did their job, if we did a real budget with that have impact on how much money we spend? is a something you to generate a cbo score for? >> i mean we went support congress in doing that. it's hard to say what the outcome would be of regular order, would certainly, certainly be a change but i can't tell you what the fiscal speeded certainly works in the private sector to do a meaningful budget and then use that as the blueprint and not allow an administration to tack on, like use mentioned, almost $1 trillion of of unsuspecte
so student loans, fdic, actions on medicaid that, right, we are providing you with the current law speededthrough executive fiat added my good as three or four, migrants against about a trillion dollars. >> that's right, between student loans and the other pieces. there several hundred billion dollars. >> do you have the ability to score if we did our job come if we follow the budget act of 1974 and all the additions where the president submitted a budget on time, if we did a...
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Jul 29, 2024
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it also allows us to compete with some of the other non-fdic insured institutions that are out there that are delivering similar types of services that is the value from us. >> i am just going to assume the need for some time. we don't get much of the same answer from others here, but the reality is it's a service that attracts consumers in a highly competitive industry where you use advertising, you use the attractiveness of your brick-and-mortar institutions, you spruce them up, doesn't produce any immediate revenue, you do all kinds of things, including data collection, which can be monetized and used , and the zelle is a vehicle to do it. and i guess the question that strikes me is why don't you provide the same protection for your customers as you do when they use credit cards, which is a system -- they have other benefits besides revenue that may actually be worth more than -- neither of them are bankers, but i would like to figure it out too. it is not something you do out of the goodness of your hearts. it is not a philanthropic. you have a 501-c-3 to do it. so, why not reimb
it also allows us to compete with some of the other non-fdic insured institutions that are out there that are delivering similar types of services that is the value from us. >> i am just going to assume the need for some time. we don't get much of the same answer from others here, but the reality is it's a service that attracts consumers in a highly competitive industry where you use advertising, you use the attractiveness of your brick-and-mortar institutions, you spruce them up, doesn't...
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Jul 19, 2024
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media organizations, including people at cnn, have said this is one of the best managed and most susie fdic crowds we've ever seen at a political convention i don't know that you can say that every nor is new organizations believes that as a matter of fact, but it's certainly true. this was the most enthusiastic, what best run convention i've seen since obama's in 2008? not ever, but, but certainly it's up there the discipline that trump's team showed in putting this in, putting this convention. together, as well as they did what's kind of offset by the by the lack of discipline that the president showed when he gave his speech. i don't know that it would have been a great speech by anyone. some measure if he had just delivered it as written but all the riffing, i know he loves it, but this is a nomination speech especially this one in this moment in history with biden, where he is where trump, where he is. this moment in history because of the horrible thing and that happened to trump and his supporters on saturday. this was a moment and opportunity where, you know, this, we were sold this
media organizations, including people at cnn, have said this is one of the best managed and most susie fdic crowds we've ever seen at a political convention i don't know that you can say that every nor is new organizations believes that as a matter of fact, but it's certainly true. this was the most enthusiastic, what best run convention i've seen since obama's in 2008? not ever, but, but certainly it's up there the discipline that trump's team showed in putting this in, putting this...
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Jul 12, 2024
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fdic, that's currently what they're discussing on the call. further reporting. that's going to wrap it up for us. take a look at shares of apple. did note that stock is up as much as 2%. perhaps some of these reports about foxconn, the big manufacturer it uses to make apple iphones ramping up for what, i guess, many hope will be a lot of demand for the next generation iphone. did want to note that stock well above the other mega cap tech, other than nvidia, of course, which is up 2.5%. we're done here. but a big hour coming up of live market coverage. icy hot. ice works fast. ♪♪ heat makes it last. feel the power of contrast therapy. ♪♪ so you can rise from pain. icy hot. i can't believe you corporate types are still at it. just stop calling each other rock stars. and using workday to put finance and h.r. on one platform. tim, you are a rock star. using responsible ai doesn't make you a rock star. it kinda does. you are not rock stars. (clears throat) okay. most of you are not rock stars. oooh. data driven insights, and large language models.
fdic, that's currently what they're discussing on the call. further reporting. that's going to wrap it up for us. take a look at shares of apple. did note that stock is up as much as 2%. perhaps some of these reports about foxconn, the big manufacturer it uses to make apple iphones ramping up for what, i guess, many hope will be a lot of demand for the next generation iphone. did want to note that stock well above the other mega cap tech, other than nvidia, of course, which is up 2.5%. we're...
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Jul 11, 2024
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we'll be watching for fdic chair confirmation hearings today for romero.isa/mastercard, 10% dlau d drawdowns this year. >> i can't believe that. i think michael at mastercard is masterful. i'm surprised at that. i want to take the other side of that trade. >> delta had decent numbers on amex renumeration, also bastion's comments about the guidance for the quarter, not the year, the quarter, is lar largely, in his view, about capacity where it's growing at 8% summer domestic whereas demand is up 4%. >> i think all of us got very complacent because we've been on planes that are completely full. obviously, we are not on the routes out of new york -- new york must not be the case because i thought that ed is -- i love ed bastian, but the interview with phil was a little challenging because i didn't know they had great supply. i thought everyone was short supply because of boeing. well, that turned out to be c chimerical. this was an amazing interview with phil. ed was saying, experiential is still here but we have too many seats. if it's still here, how can we
we'll be watching for fdic chair confirmation hearings today for romero.isa/mastercard, 10% dlau d drawdowns this year. >> i can't believe that. i think michael at mastercard is masterful. i'm surprised at that. i want to take the other side of that trade. >> delta had decent numbers on amex renumeration, also bastion's comments about the guidance for the quarter, not the year, the quarter, is lar largely, in his view, about capacity where it's growing at 8% summer domestic whereas...
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Jul 9, 2024
07/24
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so the student loans, fdic actions on medicaid that right, we are providing you with the current speedso through executive yet they added goodness three or four, goodness, guess a trillion dollars. >> that's right, between student loans and the other pieces. there several hundred billion dollars. >> would you have the ability to score, if we did our job come if we all, overhauled the budget act of 1994 and divisions with the president said in a budget on time, if we did a meaningful bipartisan senate budget resolution and we went back to regular order and the house did their job, if we did a a real budget, with that of impact on how much money we spend and is it something you could help generate a cbo score for? >> i mean, we would certainly support the congress in doing that. it's hard to say what the outcome would be, you know, of regular order would certainly be a change. i can't tell you what the physical speedy certainly in the private sector do a meaningful budget and then use that as the blueprint not allow and administration to tack on like he just mention almost a trillion dol
so the student loans, fdic actions on medicaid that right, we are providing you with the current speedso through executive yet they added goodness three or four, goodness, guess a trillion dollars. >> that's right, between student loans and the other pieces. there several hundred billion dollars. >> would you have the ability to score, if we did our job come if we all, overhauled the budget act of 1994 and divisions with the president said in a budget on time, if we did a meaningful...
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Jul 19, 2024
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i've reached out to the banking regulators and waiting to hear back from the fdic and o kr, cc but theits critical systems are operating normally. >> we made this point earlier this can occur from a content ruso to speak, one has to wonder what our adversariesle really could do. put it in perspective, jpmorgan what they spend on defending their own networks and spend on making sure, you know, their customers safe. the numbers are enormous. >> the banking system spends billions of dollars on cyber security. i believe that jamie dimon has said repeatedly how that is something that truly keeps him up at night, often, the potential risk for a cyber security attack. so this is something that is very top of mind for bank ceos and i have to admit, david, when i saw the headline earlier this morning, my first thought was, oh, no, because of the critical infrastructure and because of the importance of the banking system, that i'm happy to hear that this was not a cyberattack. however it does show you the ultimate kind of interconnectivity the banking system has with technology and just that thi
i've reached out to the banking regulators and waiting to hear back from the fdic and o kr, cc but theits critical systems are operating normally. >> we made this point earlier this can occur from a content ruso to speak, one has to wonder what our adversariesle really could do. put it in perspective, jpmorgan what they spend on defending their own networks and spend on making sure, you know, their customers safe. the numbers are enormous. >> the banking system spends billions of...
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Jul 12, 2024
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during our discussion when you last appeared before the committee you largely defer today the fed fdic and occ on the details of the boss sell proposal. i've been particularly focused on the negative impact the proposal would have on the capital markets that are critical to the u.s. economy. i hope this is an area that you also are playing close attention to. we're in a situation where the chairman and the fed today during senate testimony said he still expects major revisions and would like to reopen the proposal for comments. replacement is waiting senate confirmation hearings and at the occ we have an acting comptroller who has not been confirmed by the senate. at the very least given the expected revision reopening the proposal for further comments seem reasonable, secretary yellen, it is -- is it still your stance not to take a public position on the details of the bossel proposal? >> i'm not going take a stand on the details. i think that it's up to the banking agencies and the rule making process that will go through as you noted the agencies are planning significant revisions i
during our discussion when you last appeared before the committee you largely defer today the fed fdic and occ on the details of the boss sell proposal. i've been particularly focused on the negative impact the proposal would have on the capital markets that are critical to the u.s. economy. i hope this is an area that you also are playing close attention to. we're in a situation where the chairman and the fed today during senate testimony said he still expects major revisions and would like to...
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Jul 12, 2024
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as well as operating losses and other customer remediation-related expenses and fdic special assessmentn q1. wells also saying they expect to increase the common stock dividend by 14% to 40 cents per share. so wide ranging release here. shares have come back a little bit, but still down about 3.76% right now. >> thanks. jpmorgan initially traded up. now it is down a little bit. the number looks like it has special items in it. $6.12. the range, $6.12 is what they started. the range was $3.96 to $6.43. so probably -- we'll see whether that's, 50.2 billion was above expectations on revenue. 49.87. what i always look at, and the book value, $111 now, basically, and rarely do you trade it almost two times book. it is the best of the banks and commands the highest valuation. some of the other things, did you see, melissa, they're talking about chargeoffs. seems ls like a big bank, but $ billion worth of net chargeoffs. and credit costs of $3.1 billion, but i think most of these numbers are probably best in class, we always know -- we don't usually have to check for jpmorgan. it is a head and
as well as operating losses and other customer remediation-related expenses and fdic special assessmentn q1. wells also saying they expect to increase the common stock dividend by 14% to 40 cents per share. so wide ranging release here. shares have come back a little bit, but still down about 3.76% right now. >> thanks. jpmorgan initially traded up. now it is down a little bit. the number looks like it has special items in it. $6.12. the range, $6.12 is what they started. the range was...
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Jul 26, 2024
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and the fdic, the occ, but it also allows for us to have a governing philosophy that says we are goings, and as a kid who grew up in poverty, i want the ability of the democratization. simply said, let's decentralize to the point where the average american has more decisions in their households. that's good news. especially to the seven million americans today who are unbanked. >> senator, probably unlikely, but let's say that you were made campaign manager for vice president harris. would you -- what would be your advice about picking a vice presidential nominee as far as her, and do you expect it to be a -- an obvious attempt to look very center, centerish, or much more center than a san francisco liberal, which is historically the way that she's been viewed? would you say that -- that's something that that campaign will work on as hard as they possibly can? >> well, joe, ey'll make moderate democrats in san francisco. she could only be a san francisco liberal, number one. number two, the choice that americans have will not be about who the vice presidential pick is. it will be about
and the fdic, the occ, but it also allows for us to have a governing philosophy that says we are goings, and as a kid who grew up in poverty, i want the ability of the democratization. simply said, let's decentralize to the point where the average american has more decisions in their households. that's good news. especially to the seven million americans today who are unbanked. >> senator, probably unlikely, but let's say that you were made campaign manager for vice president harris....