Member Corner

This week we'll hold two major full committee 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 Wednesday, the full committee welcomes Federal Reserve Chairman Ben Bernanke at 10 a.m. for the July Humphrey-Hawkins hearing. The Fed Chief's… Read more »

Leaders of the Financial Services Committee have proposed the PATH Act – the Protecting American Taxpayers and Homeowners Act (.pdf) – to create a sustainable housing finance system for the 21st century. The proposal: Ends the taxpayer-funded bailout of Fannie Mae and Freddie Mac that has cost taxpayers nearly $200 billion – the largest bailout in history; Increases… Read more »

  Chairman Jeb Hensarling delivers this week's Sunday Video Message introducing the Protecting American Homeowners and Taxpayers Act, the PATH Act for short. Read more »

Wall Street Journal: Housing Reform Breakout The House GOP moves to revive the private home mortgage market.  New York Times: Diverging Debate at Fed on When to End Stimulus Federal Reserve Chairman Ben Bernanke said on Wednesday that the Fed was likely to extend the centerpiece of its campaign to bolster the economy — keeping short-term interest rates close to zero —… Read more »

Wall Street Journal Editorial: Housing Reform Breakout  One perverse result of the financial crisis is that Washington has nationalized housing finance. Taxpayers guarantee about 85% of new mortgages, some $5.1 trillion in mortgage credit and growing. So it's a big and welcome political breakthrough that House Republicans are taking… Read more »

Welcome back from the Independence Day break! We kick off the last four-week stretch of congressional activity before August with two suspensions and three hearings this week. 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 Monday the House is expected to consider… Read more »

At a time when Washington is awash in scandals over mass surveillance and political targeting, the CFPB is amassing tens of millions of your private financial records and consumer data. According to Investors Business Daily, the "massive database of personal information" includes "monthly credit card, mortgage, car and other payments," giving the bureau a snapshot of your bill-paying and… Read more »

Pennsylvania Congressman Keith Rothfus (Facebook | Twitter) delivers this week's Sunday Video Message. He shares his reaction to Wednesday's full committee hearing on "Too Big to Fail" in the post-Dodd-Frank world. Spoiler Alert! Dodd-Frank did not, does not and will not end Too Big to Fail.  Read more »

Wall Street Journal:  Regulators have created a mortgage minefield Incompatible and contradictory federal regulations -- including those in Dodd-Frank -- have created a mortgage minefield.  The ultimate casualties will be the nascent housing recovery and the American home buyer.  AEI: Overzealous intervention dooms the market Those who want government guarantees… Read more »

Just one full day of committee activity for this week before the July 4th District Work Period. But be sure to check back here on the Bottom Line Blog -- and subscribe to our email lists  --  for updates throughout the week. Here's what's happening:  On Wednesday at 10 a.m. the full committee examines how Dodd-Frank could result in more taxpayer-funded… Read more »