Press Releases

WASHINGTON – Today, the House voted 237-189 to pass the 21st Century Flood Reform Act (H.R. 2874) – a package of seven bills from the Financial Services Committee to reform and reauthorize the National Flood Insurance Program (NFIP). The taxpayer-backed NFIP was created in 1968 to provide government insurance protection against flood risks for both homeowners and commercial businesses.… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement as the committee began consideration of 22 measures on Tuesday: We have a number of bills in front of us today so this will be a long, but I trust productive, mark-up. Most of the bills have a common theme and that theme is to once again ensure that our economy is working for all… Read more »

The House passed bipartisan legislation on Monday to require securities regulators to safeguard a data system used to track market trading activity. The bill, the Market Data Protection Act of 2017, would require the Securities and Exchange Commission (SEC), the Financial Industries Regulatory Authority (FINRA), and the operator of the Consolidated Audit Trail (CAT) to consult with the… Read more »

WASHINGTON -- The House today passed legislation that will make it easier for entrepreneurs and small business owners to raise limited amounts of capital from their personal network of family and friends without running afoul of federal securities laws. Under the Micro Offering Safe Harbor Act sponsored by Rep. Tom Emmer (R-MN), private businesses would be permitted to seek… Read more »

The Subcommittee on Terrorism and Illicit Finance held a hearing today entitled “Financial Intelligence and Enforcement: Treasury’s Role in Safeguarding the American Financial System.” This hearing gave the Subcommittee an overview of the functions of the U.S. Department of the Treasury’s Office of Terrorism and Financial Intelligence (TFI). “TFI, and the bureaus and agencies that… Read more »

The Subcommittee on Monetary Policy and Trade heard testimony from U.S. Treasury Under Secretary for International Affairs David Malpass about the Trump Administration’s plans for international financial institutions such as the World Bank and the International Monetary Fund (IMF).  “I thank Under Secretary Malpass for his testimony today and I look forward to continuing to work… Read more »

The Subcommittee on Monetary Policy and Trade held a hearing today entitled “Examining Federal Reserve Reform Proposals.” The hearing evaluated three legislative proposals to create a more independent, accountable, and transparent Federal Reserve that would improve economic opportunities for all Americans. “The three bills considered by the Monetary Policy and Trade Subcommittee today… Read more »

The Subcommittee on Housing and Insurance held a hearing today entitled “Sustainable Housing Finance Part III.” The hearing allowed the Subcommittee to further assess views and perspectives on the need to enact comprehensive housing finance reform. “I want to thank the panel for participating in the third meeting in our Subcommittee’s series of Housing Finance Reform hearings," said… Read more »

House Majority Whip Steve Scalise (R-LA) and House Financial Services Committee Chairman Jeb Hensarling (R-TX) announced they have negotiated an agreement for a long-term reauthorization of the National Flood Insurance Program: “Being from Louisiana and Texas, we are all-too familiar with the devastating effects of floods and the havoc they wreak on communities. That’s why we agree on… Read more »

The Subcommittee on Capital Markets, Securities, and Investment held a hearing today to examine the effect regulation has on small business and community financing in the U.S. capital markets.  The subcommittee discussed how regulatory burdens affect capital formation, job creation, and economic growth for small businesses and also examined legislative proposals. “During the… Read more »