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Subcommittee Examines the Impact of the DOL Fiduciary Rule on the Capital Markets
Jul 13, 2017
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The Subcommittee on Capital Markets, Securities, and Investment held a hearing today to examine the impact of the DOL fiduciary rule on the capital markets. The primary focus of the hearing was to discuss the unintended consequences of the DOL fiduciary rule on the U.S. capital markets, the need for...
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ICYMI: Richard Cordray's Financial Damage
Jul 13, 2017
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July 13, 2017 President Trump still hasn’t dismissed Consumer Financial Protection Bureau director Richard Cordray despite several removable offenses. But Mr. Cordray is all but begging to be fired with his mandatory arbitration ban that brazenly flouts the law. The CFPB on Monday finalized a rule f...
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Hensarling: Economic Growth Requires ‘Transparent Policy Strategy’ From Fed
Jul 12, 2017
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House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s hearing with Federal Reserve Chair Janet Yellen on monetary policy and the state of the economy: Since we last convened to take Chair Yellen’s testimony on monetary policy, there ha...
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Subcommittee Examines Legislative Proposals to Bring Regulatory Relief to Community Financial Institutions
Jul 12, 2017
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WASHINGTON – The Financial Institutions and Consumer Credit Subcommittee met today to examine several pieces of legislation aimed at providing much needed regulatory relief for community financial institutions. “Our nation’s community financial institutions are getting buried under red tape,” said C...
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CFPB Rule Will Harm Consumers But Thrill Trial Lawyers
Jul 10, 2017
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Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement today regarding the Consumer Financial Protection Bureau's controversial rule to prevent companies from using arbitration clauses: “This bureaucratic rule will harm American consumers but thrill class action t...
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Hensarling Announces Fed Chair Yellen Semi-Annual Testimony Date
Jun 29, 2017
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Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced that Federal Reserve Chair Janet Yellen will appear before the Committee on Wednesday, July 12 at 10 a.m. EDT to deliver the Federal Reserve’s semi-annual Monetary Policy Report to Congress and to discuss the state of the ec...
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Subcommittee Examines the BSA/AML Regulatory Compliance Regime
Jun 28, 2017
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The Financial Institutions and Consumer Credit Subcommittee held a hearing today to examine the federal government’s anti-money laundering (AML) efforts under the Bank Secrecy Act (BSA). The primary focus of the hearing was to understand compliance challenges facing financial institutions, including...
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Subcommittee Looks At Impact Federal Reserve Has On Hardworking Americans
Jun 28, 2017
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WASHINGTON – The Monetary Policy and Trade Subcommittee held a hearing today to evaluate how Federal Reserve policies are adversely affecting households, small businesses, savers, and retirees, and consider policy opportunities that the Federal Reserve could implement to improve economic opportuniti...
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Subcommittee Examines Illicit Activity in Antiquities, Art Trade
Jun 23, 2017
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WASHINGTON – The Terrorism and Illicit Finance Subcommittee held a hearing today to examine the best ways to counter the plunder and sale of priceless cultural antiquities and art by terrorists and criminal enterprises. “During times of conflict we see an increased interest in the theft, fraud, loot...
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Committee Completes Markup of Bills to Reauthorize and Reform National Flood Insurance Program
Jun 21, 2017
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The House Financial Services Committee met today to complete deliberation of and pass several measures to reform and reauthorize the National Flood Insurance Program (NFIP), which is set to expire on September, 30, 2017. “While we have a responsibility to provide certainty to the homeowners and smal...
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