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Hensarling Announces Subcommittee Chairs and Welcomes Republican Members to the Financial Services Committee "I look forward to working alongside my colleagues to pass laws that help grow the economy from Main Street up, not Washington down,” said Chairman Hensarling. “Our committee will continue to focus on promoting sensible solutions that help create jobs and hold both Washington and Wall Street accountable to the American people." The subcommittee chairmen for the 114th Congress: Rep. Scott Garrett (R-NJ) will serve as Chairman of the Capital Markets and Government-Sponsored Enterprises Su... Read More »

Investigation Reveals Export-Import Bank Exaggerating Help for Small Business Reuters news agency investigation finds Ex-Im lists “companies owned by billionaires” and “Japanese and European conglomerates” as “small businesses” Ex-Im’s list of “small businesses” includes one that has 53,000 employees “The errors make it difficult to identify exactly how much Ex-Im support goes to big businesses such as Caterpillar and how much to small companies.” Hensarling: “The bulk of Ex-Im’s help indisputably goes to large corporations that can finance their own operations without putting it on the taxpay... Read More »

Full Committee Examines Terrorist Financing and the Islamic State The Financial Services Committee examined ongoing U.S. efforts to stop the Islamic State (ISIL) and other terror groups from obtaining and deploying financial resources at a hearing on Thursday. “Unlike al Qaeda and other terror groups with which we are familiar and rely mainly on private donations and state sponsorship to fund their activities, ISIL is almost entirely internally financed and apparently is sitting on assets of almost $2 billion," said Chairman Jeb Hensaring (R-TX). "Fighting the financial war against terror wil... Read More »

On Thursday at 10:00 a.m. the Full Committee will hold a hearing to examine terrorist financing and the Islamic State. Read More »

CLICK HERE TO WATCH HORROR! SHOCK! DEVASTATION! Top-down regulations from Washington make it harder to have a growing economy on Main Street that creates good jobs. Yet each year Washington churns out page after page of new regulations, rules and red tape in the Federal Register. It’s become a MONSTER terrorizing Main Street! See for yourself…IF YOU DARE! #HappyHalloween "It is time for all to take off partisan blinders and acknowledge the truth that Washington regulators aren’t always right and more red tape is not always the solution to every problem. It is time to hold Washington accountab... Read More »

Below are excerpts from the Wall Street Journal’s “Weekend Interview” with House Financial Services Committee Chairman Jeb Hensarling (R-TX). The entire interview can be found here. Hensarling on the Export-Import Bank Mr. Hensarling views the Ex-Im battle “somewhat as a precursor to the tax reform fight because there are so many vested corporate interests” served by the current tax code: “If we can’t get rid of this agency and the corporate welfare it represents, how will House Republicans ever muster the intestinal fortitude to be able to do fundamental tax reform?” He adds, with some politi... Read More »

The CFPB and the game show Jeopardy! seem to have an interesting connection (see here and here). Although this week’s Jeopardy! contestants couldn’t name the agency, the unaccountable CFPB is certainly making a name for itself in all the wrong ways. Here are five more answers that probably ended up on the cutting room floor in the Jeopardy! Studio: Read More »

President Obama recently voiced concerns about the negative impact of “endless regulations” in foreign countries. Millions of unemployed and underemployed Americans must be wondering why he isn’t as concerned about the economic harm caused by the “endless regulations” of his own administration here in the U.S.A. While the American people are repeatedly told that nothing is getting done in Washington, struggling small business owners and entrepreneurs across our nation can only wish that were true. They know better than anyone that the Washington bureaucracy is busier than ever churning out red... Read More »

Currently, there are millions of Americans unemployed and underemployed in this struggling economy. And right now, job number one for the Financial Services Committee is job creation and economic growth. We have passed dozens of bipartisan, pro-jobs bills. OK, great. Now, they should pass through the Senate, right? Wrong. Senator Harry Reid has killed them off, refusing to even bring them up for votes and instead adds them to the pile of jobs bills collecting dust in the do-nothing Democrat-controlled Senate. Your move, Senate. During the 113th Congress, the House has passed 23 bipartisan, pr... Read More »

Subcommittee Examines the Financial Stability Oversight Council ("FSOC") The Oversight and Investigations Subcommittee held a hearing on Wednesday to examine FSOC's operations, policies, and procedures. The subcommittee discussed the FSOC's failure to address recommendations from the Government Accountability Office (GAO) and highlighted the need for greater transparency and accountability. "The FSOC may well be the least transparent federal entity in the government. Of the 42 meetings held, no substantive description of discussions or members' perspective have been provided in the meeting min... Read More »