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Hensarling on Dodd-Frank's Unhappy Anniversary: Instead of ending 'too big to fail,' Dodd-Frank has created 'too small to succeed.'

Financial Services Committee Chairman Jeb Hensarling (R-TX) made the following comments today on the sixth anniversary of the failed Dodd-Frank Act being signed into law: "One of the main reasons why we’re stuck in the worst economic recovery of our lifetimes is the Dodd-Frank Act, a grave mistake Democrats inflicted upon the American people six years ago today. "Only Washington would claim Dodd-Frank is 'Wall Street reform.' Dodd-Frank includes a taxpayer-funded bailout scheme for banks designa...

ICYMI: A Bank Too Big to Jail

Have you ever wondered why the crippling 2008 financial crisis generated almost no criminal prosecutions of large banks and their top executives? Then take a moment to read the congressional report issued on July 11 titled “Too Big to Jail.” Citing internal documents that the United States Treasury took three years to produce, the report shows how regulators and prosecutors turned a potential criminal prosecution of a large global bank — HSBC — into a watered-down settlement that insulated its ...

WEEK IN REVIEW

Financial CHOICE Act Protects Taxpayers From Bailouts, Promotes Economic Growth The Financial Services Committee’s hearing on Tuesday focused on the new model offered by the Financial CHOICE Act in which banks operate at higher capital levels in exchange for relief from government micro-management. “The Financial CHOICE Act will relieve financial institutions from growth-strangling regulations that create more economic burden than benefit in exchange for voluntarily meeting higher, yet simpler, ...

Hensarling: Attack on FHA’s Insurance Fund Must be Stopped

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at a hearing with Housing and Urban Development Secretary Julian Castro about sudden policy changes the Secretary is making to the sale of nonperforming loans insured by the government: There has probably been no greater public policy mistake in housing than Washington trying to put people into homes they cannot afford to keep. It was clearly the number one reason our nation s...