Today, the House Financial Services Committee held a hearing on the Federal Housing Administration’s (FHA) first-ever taxpayer-funded bailout — approximately $1.7 billion.
Despite long-standing concerns about its solvency, the FHA has not taken the necessary steps to mitigate its losses. FHA currently has several means at its disposal to minimize losses to its insurance fund, yet… Read more »
The House is in session Monday through Wednesday this week and will consider two Financial Services bills. Additionally, the committee will hold two hearings. Be sure to check back here on the Bottom Line Blog -- and sign up for our email updates -- for more information throughout the week.
Here's what's happening:
On Tuesday at 10 a.m. the Full Committee… Read more »
Chairman Hensarling appeared on Fox Business Network earlier today to discuss tomorrow's Full Committee hearing on the $1.7 billion taxpayer-funded bailout the Federal Housing Administration (FHA) received at the end of September.
Hensarling on FHA's current condition:
"Well as you probably know, FHA is about to receive their first bailout… Read more »
Congresswoman Ann Wagner (Twitter | Facebook) delivers this week's Sunday Video Message on her legislation -- H.R. 2374, the Retail Investor Protection Act. H.R. 2374 will be considered on the House floor this week. Read more »
Update 11/18/13: The full committee will consider six bills to reform the CFPB on Wednesday.
Next week the Financial Institutions and Consumer Credit Subcommittee will hold a hearing to discuss legislative proposals to bring more accountability, reform and transparency to the Consumer Financial Protection Bureau (CFPB). As Chairman Hensarling has pointed out, the… Read more »
Forbes | Dodd-Frank’s Costs Will Be Paid For By Low-Income Bank Customers
A whole segment of society is losing access to mainstream banking that allows them to safely save and invest for the future. They are being pushed into nontraditional financial arrangements not by choice, but because of Dodd-Frank.
NRO | 10 Questions for Janet Yellen
With Janet Yellen… Read more »
Congressman Randy Hultgren (Twitter | Facebook) delivers this week's Sunday Video Message on his legislation -- H.R. 992, the Swaps Regulatory Improvement Act. H.R. 992 will be considered on the House floor this week.
Read more »
Mercatus | The Myth of Deregulation and the Financial Crisis
Did “deregulation” cause the financial crisis? Our conclusion was that there was no measurable, net deregulation leading up to the financial crisis.
Omaha World-Herald | Mortgage lending at risk if rules not delayed, banker says
Without a delay of onerous Dodd-Frank mortgage regulations, some banks will stop… Read more »
Update: Chairman Hensarling Comments on Obama Administration’s Confirmation of $1.7 Billion Taxpayer-Funded Bailout for FHA
Back in February, Chairman Hensarling cautioned that: "If the FHA were a private financial institution, likely somebody would be fired, somebody would be fined, or the institution would find itself in receivership." Instead, he added, "it is merely, and merrily, on… Read more »
Chairman Hensarling Op-Ed | September 24, 2013
Pundits and politicians, including President Obama, used the recent anniversary of the Lehman Brothers collapse to once again blame a lack of government regulations for causing the financial crisis.
The great tragedy of the financial crisis, however, was not that Washington regulations… Read more »
