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More Evidence Destroying the White House’s Spin on Dodd-Frank

Just last week the White House was claiming that the crushing regulatory burden of the Dodd-Frank Act wasn’t harming community banks – not one bit. Community bankers, credit union leaders and small business owners told us that’s absolutely not true. Today’s report from Bloomberg (Headline: Bank Mergers Heading for Seven-Year High, Pushed by Costly Rules) once again exposes how feeble the White House’s spin is: Here’s an irony: U.S. regulators looking to avoid bailouts of too-big-to-fail banks h...

Hensarling Statement on State Department Admission That Payment to Iran Was Contingent on Release of Hostages

Financial Services Committee Chairman Jeb Hensarling (R-TX) released the following statement on Thursday after the State Department admitted that the United States would not hand over $400 million in cash to Iran until it released four American hostages: “There’s a word for that. It’s called ransom. But two weeks ago President Obama insisted to the American people that the $400 million cash payment to Iran was not in any way, shape or form ransom. The Administration clearly has a lot of explaini...

Down Payment Assistance Funding Scheme Violates Law, Forces Borrowers to Accept Higher Interest Rate Mortgage

WASHINGTON – The Federal Housing Administration (FHA) is steering borrowers toward a down payment assistance program with a funding scheme that violates federal law, forces borrowers to accept a higher interest rate, and poses a risk to the FHA’s insurance fund, according to the Inspector General of the Department of Housing and Urban Development (HUD). In addition, while the Inspector General’s audit was pending, FHA violated official procedures by making “significant core changes” to the progr...

Hensarling: New Law Modernizes Outdated Housing Rules

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) made the following comments after President Obama signed into law H.R. 3700, the Housing Opportunity Through Modernization Act: “Our committee has achieved a solid record of passing bipartisan legislation, including this important bill that modernizes outdated housing rules and regulations that in some cases have not been updated in over a generation. By eliminating needless red tape and streamlining the delivery of h...