Banking and Bailouts

Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, and Rep.

Washington, DC – Today, Rep. Elijah E. Cummings, Ranking Member of the House Oversight and Government Reform Committee, and Committee Member Peter Welch sent a letter to Chairman Darrell Issa requesting that the Committee hold a hearing with JPMorgan Chase & Co. Chairman and CEO Jamie Dimon and other executives involved in the trading strategy that resulted in losses exceeding $2 billion.

Washington, DC—Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, and Committee Member John F. Tierney called on Edward DeMarco, the Acting Director of the Federal Housing Finance Administration (FHFA), to comply with previous requests for information about his refusal to allow Fannie Mae and Freddie Mac to utilize principal reductions to address the nation's housing crisis, even though his own data show they could save U.S. taxpayers billions of dollars.

Washington, D.C. – Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, released the following statement in reaction to an op-ed by former Goldman Sachs executive Greg Smith that described the company's culture as "toxic and destructive":

Washington, DC —Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, sent a letter to Chairman Darrell Issa asking why he directed the law firm responding to his subpoena for the files of Members of Congress who received Countrywide "VIP" loans to conceal their identities before turning over any additional documents to the Committee.