Press Releases

WASHINGTON – The Federal Housing Administration (FHA) is steering borrowers toward a down payment assistance program with a funding scheme that violates federal law, forces borrowers to accept a higher interest rate, and poses a risk to the FHA’s insurance fund, according to the Inspector General of the Department of Housing and Urban Development (HUD). In addition, while the Inspector… Read more »

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) made the following comments after President Obama signed into law H.R. 3700, the Housing Opportunity Through Modernization Act: “Our committee has achieved a solid record of passing bipartisan legislation, including this important bill that modernizes outdated housing rules and regulations that in some cases… Read more »

Financial Services Committee Chairman Jeb Hensarling (R-TX) made the following comments today on the sixth anniversary of the failed Dodd-Frank Act being signed into law: "One of the main reasons why we’re stuck in the worst economic recovery of our lifetimes is the Dodd-Frank Act, a grave mistake Democrats inflicted upon the American people six years ago today. "Only Washington… Read more »

Financial CHOICE Act Protects Taxpayers From Bailouts, Promotes Economic Growth The Financial Services Committee’s hearing on Tuesday focused on the new model offered by the Financial CHOICE Act in which banks operate at higher capital levels in exchange for relief from government micro-management. “The Financial CHOICE Act will relieve financial institutions from growth-strangling… Read more »

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at a hearing with Housing and Urban Development Secretary Julian Castro about sudden policy changes the Secretary is making to the sale of nonperforming loans insured by the government: There has probably been no greater public policy mistake in housing than Washington… Read more »

WASHINGTON – The Financial Services Committee today approved a series of bills that are designed to prevent the sale of commercial passenger aircraft to Iran, the world’s foremost state sponsor of terrorism according to the U.S. State Department. “These bills are all part of a bipartisan effort to ensure that Iran does not have access to the U.S. financial system and that taxpayers and… Read more »

Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing focused on the capital requirements in the Financial CHOICE Act, the Republican alternative to the Dodd-Frank Act which will offer economic growth for all and bank bailouts for none: Regrettably, we… Read more »

WASHINGTON – Today, the House passed the National Securities Exchange Regulatory Parity Act of 2016, sponsored by Rep. Royce (R-CA), as amended. During a recent House Financial Services Committee Markup, Rep. Royce explained "The SEC’s interpretation of the law has created a two-tiered playing field by giving this 'blue sky' exemption only to these three exchanges which existed in 1996.… Read more »

WASHINGTON – Today, the Subcommittee on Financial Institutions and Consumer Credit held a hearing to examine the opportunities and challenges related to Financial Technology (FinTech), particularly the development of online marketplace lending. Online marketplace lenders use online lending platforms and underwriting algorithms to provide affordable and broad access to credit.  Over… Read more »

The House Financial Services Committee on Monday released a staff report of its investigation into the U.S. Department of Justice’s decision not to prosecute HSBC or any of its executives or employees for serious violations of U.S. anti-money laundering laws and related offenses. The Committee initiated its investigation in March 2013.  The Department of Justice (DOJ) and the… Read more »