Member Corner

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 »

One of the witnesses at today’s committee hearing on the Future of Housing in America is Renee Glover, who has been actively involved in affordable housing for more than 30 years from several different vantage points:  the private sector, the public sector and the international non-government sector.  From nearly 20 years, she was CEO of the Atlanta Housing Authority. In… Read more »

House Passes Bipartisan Consumer Protection and Regulatory Relief Bills The House passed five bipartisan Financial Services bills this week, including one that provides a formal hold-harmless period for those making a good faith effort to comply with the CFPB’s 1,888-page TRID rule, which became effective on Oct. 3. The bill, H.R. 3192, the Homebuyers Assistance Act sponsored by Rep.… Read more »

CFPB, Dodd-Frank Harms Consumers On Tuesday, CFPB Director Richard Cordray faced intense questioning – from committee members of both parties – particularly about the unaccountable Bureau’s efforts to unfairly pursue auto lenders and dealers, even though the Dodd-Frank Act expressly exempts dealers from the CFPB’s jurisdiction. As Investor’s Business Daily noted in its coverage of the… Read more »

Dodd-Frank's Impact 5 Years Later: We Are Less Free As the nation marked Constitution Day on Thursday, the Financial Services Committee heard from witnesses that the Dodd-Frank Act makes Americans less free.  By centralizing greater power in the hands of Washington bureaucrats, Dodd-Frank results in a less dynamic economy and a command-and-control system in which regulators dictate… Read more »

Lawmakers Express Bipartisan Concerns Over Labor Dept. Retirement Regulation A controversial regulation proposed by the Department of Labor will make it harder for Americans, especially those with lower and middle incomes, to plan for retirement said Republicans, several Democrats and witnesses at a joint subcommittee hearing on Thursday. The Capital Markets and Government Sponsored… Read more »

Committee Passes Federal Reserve Accountability, Bipartisan Reg Relief Bills On Wednesday the Financial Services Committee passed several  bills designed to help grow the economy, create jobs and bring much-needed accountability and transparency to the Federal Reserve. H.R. 3189, the Fed Oversight Reform and Modernization Act (FORM Act), requires the Federal Reserve to… Read more »