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ICYMI: Hensarling Bill Gives Credence to 'Capital Is King'

By: Stephen Matteo Miller and Chad Reese American Banker, June 28, 2016 Announcing his plan to overhaul the Dodd-Frank Act, House Financial Services Committee Chairman Jeb Hensarling signaled agreement with a growing list of policymakers and scholars who argue that the best way to prevent another financial crisis is to embrace simpler, higher capital requirements rather than other prescriptive regulations that just burden banks and limit economic growth. The very first section of the Financial C...

Financial CHOICE Act Will ‘Turbocharge the American Economy’

15 national conservative organizations and prominent activists announced they “wholeheartedly endorse” the Financial CHOICE Act, saying the Republican plan to replace the failed Dodd-Frank Act will “turbocharge the American economy.” “If we want the economy to improve — if we want to give all Americans the chance to prosper again — we need to put an end to Washington’s destructive regulatory agenda once and for all,” the conservative groups write in their endorsement letter. “The Financial CHOIC...

WEEK IN REVIEW

Committee Questions Yellen About Interest on Excess Reserves On Wednesday, the Financial Services Committee held its semi-annual hearing on monetary policy and the economy with Federal Reserve Chair Janet Yellen. In its coverage of the hearing, the Wall Street Journal reported that Republicans “pressed the Fed chairwoman to justify how much interest the Fed pays banks on the excess reserves they keep at the Fed” as well as “the slew of regulations implemented in the wake of the 2010 Dodd-Frank l...

Financial CHOICE Act Released for Public Review, Nobel Prize Winning Economists and Former Treasury Secretaries Announce Support for Reforms

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) today publicly released a discussion draft of the Financial CHOICE Act, the Republican plan to replace the failed Dodd-Frank Act and promote economic growth. CHOICE stands for Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs. “We want the American people to see our proposal because it will result in economic growth for all and bank bailouts for none,” said Chairman Hensarling. “Dodd-Frank has f...