With only a House majority, Democrats are unable to enact legislation—but that doesn’t mean they’re powerless. Under the leadership of Chairman Maxine Waters, the Financial Services Committee has used its oversight powers to go after politically disfavored industries. On Feb. 5 JPMorgan Chase announced it will no longer do business with private prisons. In January Wells Fargo said it would no longer market to private prison companies, aiming to achieve the same objective by attrition. In a February appearance before an immigrant-rights...

Source: Wall Street Journal March 17, 2019 18:33 UTC