Off Air Stay Tuned!

Internal Documents Withheld from Committee Show CFPB Rushed to Settle Case Against Wells Fargo Without Investigation

The House Financial Services Committee released a second interim staff report on its investigation into the Wells Fargo fraudulent account scandal and the Consumer Financial Protection Bureau’s (CFPB) enforcement action on the matter. An internal CFPB “Recommendation Memorandum” for the Director – improperly withheld from the Committee for over a year – reveals the Bureau failed to fully and adequately investigate Wells Fargo. Instead, the Bureau rushed to settle with Wells Fargo for less than 1...

Hensarling Visits Houston After Hurricane Harvey Destruction

House Financial Services Committee Chairman Jeb Hensarling (R-TX) released the following statement after visiting Houston and meeting with victims of Hurricane Harvey’s destruction: “In Houston, I toured the damage and met with local and federal officials about future relief and much needed flood insurance reforms. During the visit, I met a man by the name of Guillermo who told his harrowing account of what happened when Hurricane Harvey hit Houston. Water rose in his home and rushed out into th...

Subcommittee Considers Toughest Financial Sanctions Ever Directed at North Korea

The Subcommittee on Monetary Policy and Trade held a hearing today to review legislation to impose financial sanctions targeting North Korea to curb the rogue nation’s development of weapons of mass destruction and ballistic missiles. The hearing also addressed the adequacy of the existing sanctions regime, particularly provisions under the United Nations Security Council Resolutions, as well as methods to strengthen foreign countries’ ability and willingness to enforce trade restrictions aimed ...

Flood Insurance Program is Broke and Broken

House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement today after FEMA announced it will likely need Congress to increase the borrowing authority of the National Flood Insurance Program: “For the victims who paid for flood insurance policies with the National Flood Insurance Program, their claims need to be paid and paid now. Helping victims right now is paramount. Congress must then finally get serious about fixing the NFIP because it is not only broke...