Press Releases

The Financial Services Subcommittee on Financial Institutions and Consumer Credit held a hearing today on a common practice – known as “de-risking” – that has limited the ability of legitimate small businesses to access credit. “De-risking” occurs when a financial institution terminates relationships and closes the accounts of clients and merchants they deem “high risk” in order to… Read more »

The Subcommittee on Capital Markets, Securities and Investments met yesterday to examine legislative proposals that would provide greater economic opportunity for derivatives end-users, which represent main street businesses of all kinds that are seeking to manage their commercial and operational day-to-day business risk. “It is important to note that derivatives are a vital part of the… Read more »

This week, the House of Representatives passed two strongly bipartisan bills from the Financial Services Committee. “These bills will help cut at least some of the red tape that places such a disproportionate burden on Main Street businesses and financial entities and limits consumer access to credit. These bills are practical, they are strongly bipartisan, and they are needed,” said… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) released the following statement harshly criticizing Fannie Mae’s request for bailout funds from Treasury and calling on FHFA Director Mel Watt to stand by his word and immediately suspend payments to the Housing Trust Fund. “Today’s announcement that Fannie Mae has once again run out of money to pay its own bills is the… Read more »

The Subcommittee on Financial Institutions and Consumer Credit held a hearing today to examine the current data security and breach notification regulatory regime, and identify potential opportunities to reform the current framework in order to reduce vulnerabilities and shortcomings in the system and better protect consumers. As reliance on technology increases, so do data breaches and… Read more »

WASHINGTON—On Thursday, the House voted 280-131 to pass H.R. 1153, the Mortgage Choice Act of 2017. This bipartisan legislation, which was sponsored by Rep. Bill Huizenga (R-MI), would preserve consumer choice and help more Americans – especially those with low- and moderate-incomes and first time homebuyers – achieve the dream of homeownership. As Financial Services Committee Chairman… Read more »

WASHINGTON—On Thursday, the House voted 280-131 to pass H.R. 1153, the Mortgage Choice Act of 2017. This bipartisan legislation, which was sponsored by Rep. Bill Huizenga (R-MI), would preserve consumer choice and help more Americans – especially those with low- and moderate-incomes and first time homebuyers – achieve the dream of homeownership. As Financial Services Committee Chairman… Read more »

Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing with Treasury Secretary Steven Mnuchin on the Annual Report of the Financial Stability Oversight Council (FSOC): Mr. Secretary – this is your first appearance before the House after the Tax Cuts and Jobs Act was signed into law.  I want to let you… Read more »

WASHINGTON- Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced that Federal Reserve Chairman Jerome Powell will appear before the Committee on Wednesday, February 28 at 10 a.m. ET to deliver the Federal Reserve’s semi-annual monetary policy report to Congress and to discuss the state of the economy. The hearing will take place in Room 2128 of the Rayburn House… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) released the following statement in response to an en banc review by the D.C. Circuit Court of Appeals in PHH vs. CFPB, allowing the CFPB structure to stand. “I am deeply disappointed with the court’s decision and hope the Supreme Court will review the ruling in short order. In the meantime, I take great solace in the fact… Read more »