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WEEK IN REVIEW

Task Force Evaluates Federal Commitment to Combat Terror Financing The Task Force to Investigate Terror Financing called two Treasury Department officials to testify at a hearing on Tuesday. Members of the Task Force agreed coordination among government agencies is necessary to combat terror financing and expressed alarm that the federal government does not maintain a single strategic document or inter-agency implementation plan for combating the financing of terrorism. “This Task Force continue...

Task Force Examines Federal Efforts to Combat Terror Financing

WASHINGTON – The Financial Services Task Force to Investigate Terror Financing held a hearing today to explore how the Treasury Department works with relevant agency and law enforcement officials to coordinate the federal government’s efforts to combat all forms of illicit finance. Today’s hearing, “Stopping Terror Finance: A Coordinated Government Effort,” was the Task Force’s ninth hearing since it was established by the House Financial Services Committee last year. Rep. Michael Fitzpatrick (R...

House Passes Bipartisan Small Business Regulatory Relief Bills

WASHINGTON – The House on Monday passed two bipartisan bills designed to lessen regulatory burdens on small businesses. “I believe most of us would agree that our economy works better for all Americans when small businesses can focus on creating jobs rather than navigating bureaucratic red tape,” said Financial Services Committee Chairman Jeb Hensarling (R-TX). Both bills had previously passed the Financial Services Committee with strong bipartisan support. Below is information about the bills. ...

WEEK IN REVIEW

Examining the CFPB’s Newest Rule to Hurt Consumers It would be difficult to find a consumer willing to pay more and wait longer only to receive a worse result. But that’s what passes for consumer protection at the CFPB with its proposed rule to outlaw arbitration. On Wednesday, the Subcommittee on Financial Institutions and Consumer Credit held a hearing to review the Bureau’s proposed rule requiring financial companies to scrap arbitration contracts. Witnesses testified that the result would be...