Member Corner

Task Force Holds First Hearing on Terrorism Financing The Task Force to Investigate Terrorism Financing held its first hearing on Wednesday to examine the global terrorist threat and the methods by which terror groups finance their operations.  In its coverage of the hearing, The Hill quoted Task Force Chairman Michael Fitzpatrick (R-PA) as saying that members will make sure "the… Read more »

House Passes Bipartisan Regulatory Relief Bills for Consumers As the House marked "Financial Independence Week,” lawmakers passed eight bipartisan regulatory relief bills to promote a healthier economy, preserve consumer choice, and help more Americans achieve the dream of financial independence. “The American dream for so many low and moderate income Americans is that one day they can… Read more »

Committee Passes 11 Bipartisan Regulatory Relief Bills and Establishes Task Force to Investigate Terrorism Financing The Committee marked up and passed 11 bipartisan regulatory relief bills this week.  The bills are designed to help strengthen the economy, preserve consumer choice and allow more Americans an opportunity to achieve financial independence. As the Committee began… Read more »

Washington’s Regulatory Burden Harming Consumer Choice and Financial Independence Witnesses told the Committee on Wednesday that Washington’s growing regulatory burden doesn’t just affect a bank or credit union’s bottom line, it also restricts consumers’ choices and access to affordable credit. This is especially true for Americans with low and moderate incomes. "It’s not an exaggeration… Read more »

Committee Pushes for Accountability and Transparency at the CFPB Tuesday’s hearing with Consumer Financial Protection Bureau Director Richard Cordray was another opportunity for Republicans to promote reforms to make the Bureau accountable and transparent to hardworking taxpayers. Republicans on the Committee are pushing for reforms to make the CFPB accountable and transparent because… Read more »

Committee Pushes for Accountability and Transparency Reforms at the Federal Reserve Republicans at this week’s hearing with Federal Reserve Chair Janet Yellen raised questions about how much influence the executive branch holds over the central bank and argued in favor of accountability reforms to both protect the Fed’s independence in its conduct of monetary policy and to help give the… Read more »

“If independence is an issue, than we really ought to examine the independence of the Fed from the executive branch of government.  That’s where the real threat is, not from the legislative branch”   CLICK HERE TO WATCH House Financial Services Committee Chairman Jeb Hensarling (R-TX) was interviewed on… Read more »

1). The Ex-Im Bank may harm as many jobs as it claims to support. Government export finance assistance programs like Ex-Im “largely shift production among sectors within the economy rather than raise the overall level of employment in the economy.” - Government Accountability Office, “Export-Import Bank: Key Factors in Considering Ex-Im Bank Reauthorization” “[A]t best the Ex-Im Bank… Read more »

Committee Examines Risky Practices at FHA The committee held a hearing on Wednesday to examine the fiscal health of the Federal Housing Administration (FHA) and heard testimony from Housing and Urban Development Secretary Julian Castro. "We all recall the famous admonition from Spanish philosopher Santayana who said, 'Those who do not remember the past are condemned to… Read more »

Several months ago this blog noted that Australia’s richest citizen secured a nearly $700 million loan for a new mining project from American taxpayers thanks to the U.S. Export-Import. Now the Australian Business Review is reporting that the project “is set for very large losses.” In the short term, the capital costs for Gina Rinehart’s Roy Hill mine are almost certain to… Read more »