Press Releases

The Subcommittee on Capital Markets, Securities, and Investment held a hearing yesterday to provide oversight of the Financial Industry Regulatory Authority (FINRA), including its activities and policies as an independent, not-for-profit organization authorized by Congress to act as a self-regulatory organization (SRO) over the U.S. securities industry.  “As the primary regulatory… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) said his committee will hold a hearing on the Equifax data breach that has potentially compromised the personal information of roughly 143 million Americans. “This is obviously a very serious and very troubling situation and our committee has already begun preparations for a hearing.  Large-scale security breaches are… Read more »

The Financial Institutions and Consumer Credit Subcommittee met today to examine several pieces of legislation aimed at improving the regulatory environment in order to boost economic growth. “The legislation discussed in the Subcommittee today will better allow financial companies to serve their customers,” said Chairman Blaine Luetkemeyer (R-MO). “From banks and credit unions to… Read more »

The Terrorism and Illicit Finance Subcommittee held a hearing today to analyze strategies to combat financial backing of lone-wolf and small-scale terrorist attacks. “Efforts to combat terrorist financing have traditionally focused on large scale funding sources; however, small-scale and lone-wolf style attacks have become more common and require significantly less funding,” said… Read more »

Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing with Treasury Secretary Steven Mnuchin on the State of the International Financial System: This morning the Committee welcomes Treasury Secretary Steven Mnuchin for his testimony on the State of the International Financial System. As we all know,… Read more »

The House Financial Services Committee met on Tuesday to approve four bipartisan bills, including legislation aimed at creating a healthier economy and making the World Bank more accountable. “I thank all members of the committee on both sides of the aisle for working to bring these bills forward for action,” said Chairman Jeb Hensarling (R-TX). The Committee passed the following… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s committee meeting to consider proposed legislation: The committee meets today to consider five pieces of legislation, nearly all of which have earned bipartisan support and are largely aimed at creating a healthier economy… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) reacted to comments made on Tuesday by the committee’s ranking member, Rep. Maxine Waters (D-CA), that overregulation of community banks is a myth “that too many folks have bought into”: “Some Democrats may deride small towns as ‘flyover country,’ but in many places community banks are the only available option for… Read more »

The House voted 231-190 Tuesday to block a controversial rule by the Consumer Financial Protection Bureau (CFPB) that would benefit class action trial attorneys and harm consumers. Using authority provided under the Congressional Review Act (CRA), the resolution of disapproval also prevents the CFPB from issuing a similar rule in the future. House Financial Services Chairman Jeb… Read more »

Today, Republicans on the House Financial Services Committee introduced a resolution of disapproval to nullify a controversial rule published by the Consumer Financial Protection Bureau (CFPB) that benefits class action trial attorneys at the expense of consumers. H.J. Res 111,  sponsored by Rep. Keith Rothfus (R-PA), uses Congressional Review Act (CRA) authority to repeal… Read more »