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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 »

House Passes Bipartisan Regulatory Relief Bills for Consumers As the House marked "Financial Independence Week,” lawmakers passed eight bipartisan regulatory relief bills to promote a healthier economy, preserve consumer choice, and help more Americans achieve the dream of financial independence. “The American dream for so many low and moderate income Americans is that one day they can achieve financial independence,” said Chairman Jeb Hensarling (R-TX). “But, regrettably, over the last six years, middle income paychecks have remained flat or have actually been slightly lower; we know that mid... Read More »

Committee Passes 11 Bipartisan Regulatory Relief Bills and Establishes Task Force to Investigate Terrorism Financing The Committee marked up and passed 11 bipartisan regulatory relief bills this week. The bills are designed to help strengthen the economy, preserve consumer choice and allow more Americans an opportunity to achieve financial independence. As the Committee began debate on the bills, Chairman Jeb Hensarling (R-TX) said “it is difficult, perhaps even impossible, to be more bipartisan or less controversial than these 11 bills that we consider today -- which means because they are bi... Read More »

Washington’s Regulatory Burden Harming Consumer Choice and Financial Independence Witnesses told the Committee on Wednesday that Washington’s growing regulatory burden doesn’t just affect a bank or credit union’s bottom line, it also restricts consumers’ choices and access to affordable credit. This is especially true for Americans with low and moderate incomes. "It’s not an exaggeration to say that every single week we hear from another financial institution that is having trouble meeting the needs of their customers,” said Chairman Jeb Hensarling (R-TX). I have one message here from a bank i... Read More »

Committee Pushes for Accountability and Transparency at the CFPB Tuesday’s hearing with Consumer Financial Protection Bureau Director Richard Cordray was another opportunity for Republicans to promote reforms to make the Bureau accountable and transparent to hardworking taxpayers. Republicans on the Committee are pushing for reforms to make the CFPB accountable and transparent because the Bureau is, by design, not accountable or transparent to Congress or taxpayers. Republican Members understand that real consumer protection puts power where it belongs: in the hands of consumers, not Washingto... Read More »

Committee Pushes for Accountability and Transparency Reforms at the Federal Reserve Republicans at this week’s hearing with Federal Reserve Chair Janet Yellen raised questions about how much influence the executive branch holds over the central bank and argued in favor of accountability reforms to both protect the Fed’s independence in its conduct of monetary policy and to help give the economy greater certainty. In its coverage of the hearing, the Associated Press reported that Republicans on the committee “challenged the central bank’s lack of accountability” Members “seized on Ms. Yellen’s ... Read More »

“If independence is an issue, than we really ought to examine the independence of the Fed from the executive branch of government. That’s where the real threat is, not from the legislative branch” CLICK HERE TO WATCH House Financial Services Committee Chairman Jeb Hensarling (R-TX) was interviewed on CNBC’s “Closing Bell” Wednesday following the committee’s hearing with Federal Reserve Chair Janet Yellen. You can watch the entire interview by clicking on the image, and below are excerpts that may be of particular interest. On his reaction to Chair Yellen’s testimony: “Well, I was disappointed ... Read More »