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Unconstitutional CFPB ‘Asleep at the Wheel’ on Wells Fargo
Apr 6, 2017
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Los Angeles Times – Republicans Attack Consumer Financial Watchdog as They Push For His Firing Part of the GOP attack focused on the Wells Fargo case as they argued the watchdog agency “was asleep at the wheel” in identifying that the bank was creating unauthorized accounts and only got involved aft...
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House Passes the Supporting America’s Innovators Act
Apr 6, 2017
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Bipartisan legislation aimed at boosting private investments in small businesses and startup companies passed the House 417-3 today. The Supporting America’s Innovators Act updates a nearly 80-year old regulatory requirement that requires certain venture capital funds to register with the Securities...
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Lack of Clarity and Due Process From Agencies Hinder Firms’ Ability to Operate
Apr 6, 2017
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The Financial Institutions and Consumer Credit Subcommittee held a hearing on Thursday on the need to increase transparency in the financial regulatory system and examined opportunities for reform. “Financial companies are standing on regulatory quicksand, having to constantly shift in an effort to ...
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Hensarling: For all the harm inflicted upon consumers, Richard Cordray should be dismissed by the President
Apr 5, 2017
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House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at a hearing with Consumer Financial Protection Bureau (CFPB) Director Richard Cordray: Today we receive the testimony of Mr. Richard Cordray as he presents again the semi-annual report of the...
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American Households Should Demand a More Reliable Governance Structure for the Fed
Apr 4, 2017
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The Monetary Policy and Trade Subcommittee held a hearing on Tuesday to examine the impact the Federal Reserve’s mandate and governance structure are having on the economy. “Unsustainable spending of other peoples’ money, coupled with the most interventionist of monetary policies, left us with a per...
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Hensarling Statement on Boeing Announcement of New Sales to Iran
Apr 4, 2017
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House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement today in response to news that Boeing has agreed to sell 60 of its jets to an Iranian airline for $6 billion. “Boeing’s deal with the Islamic Republic of Iran, whose airlifts to the Assad regime have be...
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House Approves the Encouraging Employee Ownership Act
Apr 4, 2017
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The House passed bipartisan legislation on Tuesday that would make it easier for businesses to offer employees an ownership stake in the companies where they work. The bill, the Encouraging Employee Ownership Act of 2017, drew strong support from Republicans and Democrats and was approved by a vote ...
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Joint Subcommittee Hearing Examines Iran Sanctions
Apr 4, 2017
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The Monetary Policy and Trade Subcommittee and the Terrorism and Illicit Finance Subcommittee held a joint hearing Tuesday to examine the effectiveness of non-nuclear U.S. sanctions on the Islamic Republic of Iran. The subcommittees heard from several witnesses about whether new designations or sanc...
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Washington's Worst Government Agency: The Consumer Financial Protection Bureau
Apr 3, 2017
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Independent Journal Review By: Richard Berman Washington, D.C. is known for many things: Majestic monuments, smoky steakhouses, and wasteful bureaucracy at its worst. From the Environmental Protection Agency's crippling regulations to the Pentagon's $125 billion boondoggle, the swamp is full of crit...
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Time to Hold the CFPB Accountable
Apr 3, 2017
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Since I was first elected to Congress, I have fought to hold government agencies and Washington bureaucrats more accountable to Floridians and all Americans. Unfortunately, the Consumer Financial Protection Bureau (CFPB) continues to operate in a manner unaccountable to Congress, the president and ...
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