Press Releases

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 »

The Financial Institutions and Consumer Credit and Terrorism and Illicit Finance Subcommittees held a joint hearing today to discuss two legislative proposals, the “End Banking for Human Traffickers Act of 2017” and the “Counterterrorism and Illicit Finance Act” (CTIF), that will counter human trafficking and illicit finance, as well as improve information sharing. “From the Treasury… Read more »

The Housing and Insurance Subcommittee met today to assess the role of the Government National Mortgage Association – commonly referred to as “Ginnie Mae” – as members continued to examine the need to reform the U.S. housing finance system. “It’s important that we understand how Ginnie has been able to manage their growth, which has been significant, and their responsibility to the… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement upon the appointment of OMB Director Mick Mulvaney to serve as Acting Director of the Consumer Financial Protection Bureau (CFPB): “I congratulate President Trump on appointing OMB Director Mulvaney as Acting Director of the CFPB. Mick is a close friend and a dedicated public servant - I… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement concerning Federal Reserve Chair Janet Yellen's decision to resign her seat on the Fed's Board of Governors once Jerome Powell replaces her as head of the nation's central bank: “Although we did not always agree on the Federal Reserve’s conduct of monetary policy, I have great respect for… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement on Friday about the U.S. Treasury Department’s review of the Financial Stability Oversight Council’s designation processes. “I commend Secretary Mnuchin and Treasury Department staff on their thoughtful report to President Trump regarding the Financial Stability Oversight Council’s… Read more »

WASHINGTON – This week, the Financial Services Committee approved 23 bills largely aimed at ensuring that our economy is working for all working Americans.  Since January, the committee has approved 63 bills. As Chairman Hensarling (R-TX) said when the committee began considering the proposals on Tuesday, the bills “will increase investment opportunities for more Americans. … Read more »

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX), the sponsor of the House-passed Financial CHOICE Act, issued the following statement today in response to Richard Cordray's announcement that he will resign as head of the CFPB: “We are long overdue for new leadership at the CFPB, a rogue agency that has done more to hurt consumers than help them.  The… Read more »

The declining fiscal condition of the Federal Housing Administration (FHA) Mutual Mortgage Insurance Fund represents “a clear and present danger to taxpayers, homebuyers and the U.S. economy” and must be addressed by Congress, said Financial Services Committee Chairman Jeb Hensarling (R-TX). The FHA today released its fiscal year 2017 annual report on the economic health of the agency’s… Read more »

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 »