Committee on Small Business member states, hearing on response, we had a hard stop, we could move as quickly as we can and could not accommodate every member in person today and we are accepting statements until thursday april 30th. Today is a chance for the committee to hear directly from members of congress about thoughts on the covid19 response for the next package to Small Business issues for the committee of jurisdiction. I would like to remind everyone we are practicing social distancing and taking other precautions for all in attendance. I appreciate your cooperation so that we can protect ourselves and our hardworking staff. Three weeks ago when congress created the Paycheck Protection Program we did so with the goal of providing a lifeline, the program experienced Unprecedented Demand and proven successful, helping more than 1. 6 million entities to support employees. As a result we will be replenishing the Program Later today. While we are moving quickly to provide an additio
Come to order. Without objection, the chair is authorized to declare recess of the committee at any time. This hearing is entitled Holding Wells Fargo Accountable and ceo perspectives for the bank that broke americas trust. I now recognize myself for five minutes with an Opening Statement. Today, wells far go ceo, charles scharf, will testify before the committee about how he plans to end wells fargo egregious battle of abuse. Hes the third wells fargo ceo to testify before this committee and less than three and a half years. I will note that each time wells fargo ceo testified before this committee, he has resigned soon thereafter. Mr. Charles scharf, you have taken on a massive challenge and while i certainly wish you luck, it is clear to this committee that the bank you inherited is essentially a flawless organization that has caused widespread harm to millions of consumers around the nation. Wells fargo has opened 3. 5 million fraudulent accounts with their customers names which ca
Committee will come to order. Let me think our witness for your patience. We are now ready to proceed under the five minute rule and i will give myself five minutes to begin the question phase of the hearing. Over the last year, has taken a number of actions to reduce the ability of fha borrowers to utilize down payment assistance programs from governments and cities. To purchase a home and has indicated that it intends to issue a proposed rule affecting down payment assistance in january. Secretary carson testified before this committee in june that he was not familiar with the hud data that identifies which Government Entity is providing down payment assistance and it appears that hud cannot determine which Government Programs are providing down payment assistance for any fha loan. Which is critical before attempting to issue new regulations of government down payment assistance programs. Will you commit to not moving forward any rulemaking or other Administrative Changes related to
Kershaw tonight starting at 8 00 eastern along with Mary Louise Roberts on her book, dday through french eyes normdy 1944 which looks at the invasions impact and its aftermath on france. The dday invasion, tonight here on cspan3. There has been discussion about an appearance before congress. Any testimony from this office would not go beyond our report. It contains our findings and analysis and the reasons for the decisions we made. We chose those words carefully and the work speaks for itself. And the report is my testimony. I would not provide information beyond that which is already public in any appearance before congress. Former special Counsel Robert Mueller is set to appear before two committees of congress. The House Judiciary Committee and the House Intelligence Committee on wednesday july 17th at 9 00 a. M. Eastern. Hell testify in open session about his report into russian interference in the 2016 election. Watch live coverage on cspan3, online at cspan. Org, or listen with