On the heels of Bloomberg’s big piece on the secret loans the Federal Reserve gave to banks, House Oversight Committee Ranking Member Elijah E. Cummings wants a hearing examining the issue, he wrote in a letter to Rep. Darrell Issa on Monday.
“Many Americans are struggling to understand why banks deserve such preferential treatment while millions of homeowners are being denied assistance and are at increasing risk of foreclosure,“ Cummings said in a release.