Press Releases

The non-partisan, independent Congressional Budget Office (CBO) exposed the Democrats’ top talking point against the Financial CHOICE Act for the lie it is. “Democrats have sought to portray the legislation as a giveaway to big banks,” the Washington Examiner notes, yet the CBO reports that “the biggest U.S. banks likely would not get relief from the new banking rules in the legislation.”… Read more »

WASHINGTON – The non-partisan, independent Congressional Budget Office (CBO) reports that the Financial CHOICE Act (H.R. 10) will slash the federal budget deficit by $24.1 billion over the next 10 years.  In addition, the CBO estimates that community banks and credit unions will be the overwhelming beneficiaries of the Financial CHOICE Act as few, if any, of the nation’s… Read more »

The Monetary Policy and Trade Subcommittee held a hearing on Thursday to evaluate lessons from the International Monetary Fund's (IMF) bailout of Greece in 2010 and 2012. “With Greece’s economy again officially in recession and discussions underway for a third IMF bailout, it is clear from today’s hearing that the IMF’s past efforts to save Greece from insolvency have been unsuccessful… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement about CFPB Director Richard Cordray’s decision to attend House Democrats’ weekly caucus meeting today: “Everyone knows Mr. Cordray will likely leave the CFPB soon and pursue political office in Ohio again, but his attendance at what amounts to nothing more than a Democrat pep rally shows just… Read more »

*Note: This was written in response to a column that appeared recently in the New York Times. The Chairman's response was submitted to the newspaper, which refuses to publish it. By Jeb Hensarling Far from ending bailouts, the Dodd-Frank Act institutionalized them and made them a permanent fixture of the regulatory toolkit.  Dodd-Frank’s “Orderly Liquidation Authority” enables… Read more »

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s markup of H.R. 10, the Financial CHOICE Act of 2017.  The Financial CHOICE Act is the Republican alternative to the failed Dodd-Frank Act.  The Financial CHOICE Act ends taxpayer-funded bailouts for banks, holds Washington and Wall Street… Read more »

The House on Monday passed three financial services bills with overwhelming bipartisan support. H.R. 910, the ‘‘Fair Access to Investment Research Act of 2017”  Reps. French Hill (R-AR) and Bill Foster (D-IL) introduced H.R. 910, which directs the Securities and Exchange Commission (SEC) to provide a safe harbor for research reports that cover Exchange Traded Funds (ETFs) so… Read more »

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement today in response to Democrats’ “Minority Hearing Day”: "Barack Obama is pocketing $400,000 for a Wall Street speech and Professor Warren is joining Wall Street CEOs in defending Dodd-Frank. How awkward for the Democrats. The Financial CHOICE Act ends bailouts for Wall Street… Read more »

When Democrats passed Dodd-Frank, they claimed it would "lift the economy." Instead Americans got the slowest, weakest recovery in 70 years. They promised it would end taxpayer-funded bailouts. Instead it enshrined bailouts into law. They promised it would make our system safer, but today the big banks are even bigger and America is losing one community bank or credit union a day.… Read more »

WASHINGTON – The Financial Services Subcommittee on Terrorism and Illicit Finance held a hearing Thursday to examine information sharing and data collection practices at the Financial Crimes Enforcement Network (FinCEN) and assess how the process and coordination could be improved.  “Today, most of us are very fortunate to have a more modern and secure means of storage for our… Read more »