Member Corner

  It’s been a rough start to the year for the Dodd-Frank Act, as yet another nonpartisan study finds evidence that the massive law harms Americans.  Not surprisingly, the new report from the Government Accountability Office (GAO) indicates an “increased compliance burden” among community banks and credit unions, which has “begun to adversely affect some lending activities, such… Read more »

Read on Medium In a new report, the Dallas Federal Reserve acknowledged what we all know to be true: community banks are being crushed by the Dodd-Frank Act. The report specifically warned of the consequences of the regulatory burden on small banks saying: “…more than five years after [Dodd-Frank]… smaller community banks are finding it increasingly tough to… Read more »

Subcommittee Questions CFPB's Consumer Data Collection Practice On Wednesday the Financial Services Oversight and Investigations Subcommittee held a hearing to find answers regarding the Consumer Financial Protection Bureau's (CFPB) collection of consumer data. Subcommittee Chairman Sean Duffy (R-WI) warned, "We don’t know – and the American people don’t know – how much personally… Read more »

3 Takeaways from the Fed's Decision Read more »

Committee Passes Bipartisan Bills Aimed at Economic Growth and Consumer Protection The Financial Services Committee on Wednesday approved several bipartisan bills designed to protect consumers, grow the economy and strengthen government transparency. The committee also voted to extend the Task Force to Investigate Terrorism Financing so it can continue examining how the U.S. can… Read more »

House Passes Hensarling's Amendment Including 15 Bipartisan Financial Services Bills On Thursday the House of Representatives passed a five-year highway bill that includes Chairman Jeb Hensarling's (R-TX) amendment of 15 bipartisan financial services bills. These bills have all previously passed the House as stand-alone measures with strong bipartisan support. Chairman Hensarling… Read more »

House Passes Federal Reserve Transparency and Consumer Protection Bills This week the House of Representatives passed seven bipartisan Financial Services Committee bills, including bills to make the Federal Reserve more transparent and accountable and to protect consumers from the Consumer Financial Protection Bureau's (CFPB) harmful regulatory actions. The Fed Oversight Reform and… Read more »

Committee Passes Bills to Make Financial Regulators Accountable to Hardworking Taxpayers  On Wednesday, the Financial Services Committee passed oversight bills to bring greater accountability and transparency to the Financial Stability Oversight Council (FSOC) and its research arm, the Office of Financial Research (OFR). Chairman Jeb Hensarling (R-TX) remarked, "Dodd-Frank… Read more »

House Passes Bill to Protect Low and Middle-Income Savers The House of Representatives passed H.R. 1090, the Retail Investor Protection Act sponsored by Rep. Ann Wagner (R-MO), on Tuesday by a bipartisan vote of 245-186. This bill was designed to put a stop to the Department of Labor's (DOL) proposed fiduciary rule that would make professional retirement investment advice for low and… Read more »

HUD at 50 The Financial Services Committee held a hearing Thursday to review the role and impact the Department of Housing and Urban Development (HUD) has had on federal housing policy in the 50 years since its creation. Chairman Jeb Hensarling (R-TX) said, "Our collective goal cannot be limited to helping people tolerate poverty, it must be to help them escape poverty. Whether I’ve… Read more »