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Rothfus: Financial CHOICE Act and the American dream
May 30, 2017
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When I talk to constituents in western Pennsylvania, I hear a common concern: some in this country are thriving and getting ahead, but many believe the American dream is moving further from their reach. Big businesses, the wealthy and well-connected are doing fine, while millions of hard-working Am...
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Barr: Dodd-Frank changes needed for accountability, economic growth
May 24, 2017
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Congress will soon vote on a plan to significantly overhaul the 2010 financial control law commonly known as the Dodd-Frank Act. This is great news for jobs and growth in Kentucky. In the nearly seven years since enactment of the 2,300-page Dodd-Frank law, roughly one in five Kentucky credit unions...
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Washington Examiner: Big banks love Democrats' big government
May 23, 2017
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5/22/2017 There wasn't a single Republican in the room on April 28, but Wall Street was well represented. House Democrats had gathered inside the Financial Services Committee for a special minority hearing to discuss the dangers of rolling back the Dodd-Frank Act's sweeping regulations. Instead of b...
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Chairman Hensarling Reacts to Decision on Fiduciary Rule
May 23, 2017
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House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement regarding today’s decision by the Department of Labor on the controversial fiduciary rule: “I was there in the Oval Office when President Trump signed his Presidential Memorandum on the Obama administrat...
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Chairman Hensarling's Statement on President's Budget Proposal
May 23, 2017
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House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement on President Trump's Fiscal Year 2018 budget proposal: “The higher taxes, spending and borrowing that were the pillars of Obamanomics brought us the weakest economic recovery in our lifetimes, stagnant p...
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CBO Destroys Democrat Talking Point Against Financial CHOICE Act
May 22, 2017
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The non-partisan, independent Congressional Budget Office (CBO) exposed the Democrats’ top talking point against the Financial CHOICE Act for the lie it is. “Democrats have sought to portray the legislation as a giveaway to big banks,” the Washington Examiner notes, yet the CBO reports that “the big...
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Washington Examiner: Big banks wouldn't want GOP offer for fewer rules, CBO finds
May 19, 2017
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By Joseph Lawler Megabanks would not be interested in the deal that House Republicans are offering them, Congress' in-house budget experts concluded in a report issued Thursday evening. House Republicans have advanced a bill, the Financial Choice Act, that would offer banks the option to get out of ...
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CBO: Financial CHOICE Act Reduces Deficit, Benefits Community Banks But Not Wall Street
May 19, 2017
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WASHINGTON – The non-partisan, independent Congressional Budget Office (CBO) reports that the Financial CHOICE Act (H.R. 10) will slash the federal budget deficit by $24.1 billion over the next 10 years. In addition, the CBO estimates that community banks and credit unions will be the overwhelming b...
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Subcommittee Evaluates Lessons from the IMF's Bailout of Greece
May 18, 2017
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The Monetary Policy and Trade Subcommittee held a hearing on Thursday to evaluate lessons from the International Monetary Fund's (IMF) bailout of Greece in 2010 and 2012. “With Greece’s economy again officially in recession and discussions underway for a third IMF bailout, it is clear from today’s h...
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Cordray Appearance Shows Democrats Use CFPB as 'Political War Machine'
May 17, 2017
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House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement about CFPB Director Richard Cordray’s decision to attend House Democrats’ weekly caucus meeting today: “Everyone knows Mr. Cordray will likely leave the CFPB soon and pursue political office in Ohio agai...
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