Press Releases

WASHINGTON – The FDIC Washington Office used “abusive tactics” and “aggressive and unprecedented efforts” – including pressuring field staff to downgrade examination scores, rejecting underwriting plans and conducting an intrusive examination review – to force banks to stop offering consumers a loan product that is completely legal, according to the… Read more »

WASHINGTON – The CFPB – a uniquely unaccountable government bureaucracy – is harming consumers and abusing and exceeding its already immense powers, members of the House Financial Services Committee told the Bureau’s director during a hearing today. The Dodd-Frank Act granted the Bureau broad powers to regulate consumer credit products,… Read more »

WASHINGTON- Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing with Director Richard Cordray of the Bureau of Consumer Financial Protection: Not that we need a reminder, but if there’s one thing the presidential campaigns of both parties are showing… Read more »

WASHINGTON – Below are excerpts from the prepared remarks Financial Services Committee Chairman Jeb Hensarling (R-TX) will deliver Tuesday about the committee’s plan to offer a pro-growth, pro-consumer alternative to the Dodd-Frank Act’s “regulatory waterboarding” that is harming the economy and consumers. The Obama Financial… Read more »

EMBARGOED UNTIL DELIVERY WASHINGTON - Financial Services Committee Chairman Jeb Hensarling (R-TX) will deliver the following remarks at the American Bankers Association Summit this morning. The remarks are embargoed until delivery, approximately 10:25 A.M.:   I appreciate that… Read more »

WASHINGTON – Financial Services Committee Chairman Jeb Hensarling (R-TX) will deliver remarks at the American Bankers Association’s Government Relations Summit on Tuesday, March 15 at approximately 10:25 a.m. The Chairman will discuss the committee’s plan to offer a pro-growth, pro-consumer alternative to the Dodd-Frank Act regulatory regime… Read more »

WASHINGTON- Financial Services Committee Chairman Jeb Hensarling (R-TX) made the following statement regarding Fannie Mae and Freddie Mac’s recent transfer of over $180 million to the Housing Trust Fund. "In taking this action, Director Watt has made a grave mistake that harms hardworking taxpayers and violates both the letter and spirit of the law. Fannie Mae and Freddie Mac were at the… Read more »

WASHINGTON - Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the committee’s hearing schedule for the week of March 14: Wednesday, March 16 at 10:00 A.M. – The Financial Services Committee will hold a hearing to examine the organization, management and actions of the Bureau of Consumer Financial Protection and to receive testimony from Director Richard Cordray… Read more »

WASHINGTON - CFPB Director Richard Cordray will appear before the House Financial Services Committee next week to report on the Bureau’s activities and face questions from lawmakers about the harm those activities cause consumers. “The CFPB undoubtedly remains the single most powerful and least accountable Federal agency in all of… Read more »

WASHINGTON -- Financial Services Committee Chairman Jeb Hensarling (R-TX) today issued the following statement about President Obama’s meeting with financial regulators to discuss implementation of more Washington regulations: "Instead of huddling at the White House, Washington regulators should be meeting with small business owners and consumers on Main Street to hear how the… Read more »