Press Releases

The House today passed two bipartisan bills designed to help protect consumers and add much needed transparency for investors. H.R. 2706, the Financial Institution Customer Protection Act of 2017 sponsored by Rep. Blaine Luetkemeyer (R-MO), requires federal banking agencies to provide banks or credit unions written justification of any request to terminate or restrict a customer’s… Read more »

WASHINGTON – The House passed bipartisan legislation on Thursday to simplify regulations for small business owners who want to sell or merge their companies with new owners. The “Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act of 2017 (H.R. 477)” alleviates costs to small business owners by simplifying the securities registration system for mergers and… Read more »

The Subcommittee on Oversight and Investigations met today to examine the controversial Office of Financial Research (OFR), assessing its management and structure, public work-product, its cooperation with Congress, and support of the Financial Stability Oversight Council. OFR Director Richard Berner appeared as the hearing's sole witness. “From studies that impugn the workplace… Read more »

The Housing and Insurance Subcommittee held a hearing today to continue assessing views and perspectives on comprehensive housing finance reform. “Today was an important step towards reforming our housing finance system, credit enhancement, and credit risk transfers,” said Subcommittee Chairman Sean Duffy (R-WI). “Expansion of private sector capital into the housing finance system should… Read more »

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) today outlined reforms to fix America’s broken housing finance system.  During a speech at a conference on the future of the U.S. housing market, Chairman Hensarling said he would work on a bipartisan basis to come up with a reform package provided it included certain key principles.  He also… Read more »

A group of House Republicans and Democrats on Friday introduced legislation to nullify a controversial rule that would effectively ban millions of consumers from accessing short-term, small-dollar credit.  The rule was issued by the former director of the Consumer Financial Protection Bureau (CFPB) shortly before he left office. Short-term, small dollar credit is essential to nearly… Read more »

The House passed bipartisan legislation on Friday that protects consumers’ ability to become homeowners and access affordable housing. Manufactured housing serves as an affordable housing option for roughly 22 million Americans and represents the largest form of unsubsidized affordable housing in the nation. Yet over-zealous regulation by the CFPB has made it harder for working families… Read more »

The Monetary Policy and Trade Subcommittee held a hearing today to examine the Administration’s use of economic sanctions to achieve foreign policy objectives and their effectiveness. “From Iran to North Korea, to Russia and Venezuela, sanctions are increasingly used as an instrument in our foreign policy toolkit, and Congress must ensure that they are achieving results,” said… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement on President Trump’s nomination of Dr. Marvin Goodfriend to the Federal Reserve’s board of governors: “I commend President Trump for this nomination.  Dr. Marvin Goodfriend is a highly respected researcher on monetary- and macroeconomics and an impeccable conservative.  He… Read more »

WASHINGTON – The Subcommittee on Capital Markets, Securities and Investment held a hearing Thursday to examine the security of the Consolidated Audit Trail (CAT), a central repository for order and trading activity data. “The importance of cybersecurity cannot be overstated,” said Subcommittee Chairman Bill Huizenga (R-MI). “The ability … to safeguard non-public financial information… Read more »