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CLICK HERE TO WATCH This morning the House Financial Services Committee released its latest video: Ex-Im By the Numbers. The 50-second video includes information about the $112 billion in taxpayer money Ex-Im puts at risk, that 99 percent of U.S. exports are successful without Ex-Im, and figures on the investigations, charges, arrests and amount of prison time associated with corruption at Ex-Im. The video is being released shortly before the committee’s third hearing of the year on the Export-Import Bank, which starts at 10 a.m. Eastern time. Read More »

Committee Passes 13 Jobs Bills The committee passed 13 bills on Wednesday to help Main Street businesses gain access to the capital they need to grow and create jobs. "We still have millions and millions of our fellow countrymen, hardworking moderate-income taxpayers, who find themselves with stagnant to lower paychecks; bank accounts that are less than before the great economic crisis -- and they need more jobs, better jobs, and you can’t have more and better jobs without more and better capital formation,” said Chairman Jeb Hensarling (R-TX). By passing the JOBS Act in 2012, Congress took an... Read More »

FACT: 10 large corporations receive nearly two-thirds of Ex-Im’s financial assistance. Read More »

FACT: Nearly 99% of U.S. exports are financed without Ex-Im. Read More »

False Narrative of Financial Crisis Led to Wrong Remedy: D0dd-Frank The Oversight and Investigations Subcommittee, chaired by Rep. Sean Duffy (R-WI), heard from witnesses at a hearing on Wednesday that the 2008 financial crisis was caused by bad government policies and regulatory incompetence, not a “lack of regulations” or “market failure.” Washington’s inaccurate diagnosis of the causes led to the wrong response: the 2,300-page Dodd-Frank Act and its burdensome regulations. As a consequence of hastily enacting Dodd-Frank, Washington has piled on more regulations that are smothering community... Read More »

FACT: While Ex-Im claims it is needed to fight subsidies from foreign competitors, just a third of Ex-Im transactions are used for this purpose – according to Ex-Im. Read More »

FACT: 85 indictments were issued in connection with the Export-Import Bank from October 2009 to September 2014. That’s more than 1 indictment per month. And expect more, says the Bank’s Inspector General. CLICK HERE TO READ Read More »

As America celebrates Small Business Week, here’s an important editorial on President Obama’s threat to veto H.R. 1195, a bipartisan bill designed to give small businesses the opportunity to have their voices heard at the Consumer Financial Protection Bureau (CFPB). The bill passed the Financial Services Committee by a vote of 53-5 and the House last month by a vote of 235-183. As Rep. Robert Pittenger (R-NC) said, “Too often, CFPB regulations designed for massive, ‘systemic risk’ financial institutions end up hurting small businesses, credit unions and community banks. This bipartisan legisla... Read More »

Subcommittee Examines Impact of International Standards on U.S. Insurance Competitiveness The Housing and Insurance Subcommittee held a hearing on Wednesday to review the impact that international regulatory standards could have on the competitiveness of insurers in America. Subcommittee Chairman Blaine Luetkemeyer (R-MO) said in his opening statement, "The United States finds itself with the opportunity to lead, and not be led. We must seize the opportunity. It's vital that the gentlemen appearing today work in concert and in the interest of the United States to ensure that no ground is ceded... Read More »

Task Force Holds First Hearing on Terrorism Financing The Task Force to Investigate Terrorism Financing held its first hearing on Wednesday to examine the global terrorist threat and the methods by which terror groups finance their operations. In its coverage of the hearing, The Hill quoted Task Force Chairman Michael Fitzpatrick (R-PA) as saying that members will make sure "the federal government is using every tool at its disposal to deprive groups like the Islamic State, Boko Haram and other terrorist organizations of the funds they rely on to advance their warped ideology." Members and hea... Read More »