Press Releases

Regulatory Overkill Cutting Off Access to Credit The Financial Institutions and Consumer Credit Subcommittee held a hearing on Tuesday to examine the state of bank lending in America. Subcommittee members heard testimony from witnesses that Washington’s regulatory burden is restricting small business and consumer access to credit. “Despite the rhetoric fed to us since its passage,… Read more »

A Dodd-Frank Act regulation known as the Volcker Rule is harming the ability of American businesses to obtain affordable financing for long-term growth, witnesses told the Capital Markets, Securities and Investment Subcommittee on Wednesday. Staff at the Federal Reserve also concluded that the Volcker Rule has detrimental impacts for the U.S. capital markets.  According to a Fed… Read more »

The Oversight and Investigations Subcommittee held a hearing on Tuesday to examine the arbitrary and inconsistent process used by the Financial Stability Oversight Council (FSOC) to designate systemically important financial institutions (SIFIs), or those deemed by Washington as “too big to fail.” Members of the subcommittee heard from a panel of witnesses who testified on the designation… Read more »

The Financial Institutions and Consumer Credit Subcommittee heard testimony from witnesses on Tuesday that Washington’s regulatory burden is restricting small business and consumer access to credit. “Despite the rhetoric fed to us since its passage, consumers and small businesses haven't been protected by Dodd-Frank.  Rather, the rules and regulations billed as the pathway to a… Read more »

Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the committee’s schedule for the week of March 27: Tuesday, March 28 at 10:00 A.M. – The Oversight and Investigations Subcommittee will hold a hearing entitled “The Arbitrary and Inconsistent Non-Bank SIFI Designation Process.” The hearing will examine a recent Financial Services Committee Majority Staff Report… Read more »

Unconstitutional CFPB Focus of Hearing The Oversight and Investigations Subcommittee held a hearing on Tuesday to examine how the structure of the Consumer Financial Protection Bureau (CFPB) violates the Constitution. “It is time we hold Director Cordray responsible and restructure the CFPB within the framework of our Constitution,” said Chairman Ann Wagner (R-MO). The hearing occurred… Read more »

As the Senate Banking Committee meets this morning for a hearing on Jay Clayton’s nomination to serve as Chairman of the Securities and Exchange Commission (SEC), Financial Services Committee Chairman Jeb Hensarling (R-TX) and Capital Markets, Securities and Investment Subcommittee Chairman Bill Huizenga (R-MI) issued the following statement: “Entrepreneurship is at a generational low… Read more »

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The Capital Markets, Securities, and Investment Subcommittee held a hearing on Wednesday to examine the Jumpstart Our Business Startups (JOBS) Act, five years after its passage.  Members of the subcommittee heard from a panel of witnesses who testified on the impact of the JOBS Act on capital formation, job creation and economic growth. “It's time to refocus the SEC to advance a… Read more »

The Oversight and Investigations Subcommittee held a hearing on Tuesday to examine how the structure of the Consumer Financial Protection Bureau (CFPB) violates the Constitution.  The subcommittee also discussed possible changes to the Bureau that would make it constitutional and accountable to the American people. “Created under the Obama-era, 'Washington knows best' mindset, the… Read more »