On Tuesday, Members of the Oversight and Investigations Subcommittee examined the budget for the Consumer Protection Financial Bureau (CFPB) with the bureau's Chief Financial Officer.
While the CFPB generally lacks oversight and accountability, one particular issue of concern raised at the hearing was the outrageously expensive planned renovation of the bureau's Washington… Read more »
Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the committee’s schedule of hearings and markups for the last two weeks of June. Read more »
Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced new subcommittee assignments for two members of the committee -- Rep. Dennis Ross (R-FL) and Rep. Keith Rothfus (R-PA). Read more »
Members of the House Financial Services Oversight and Investigation Subcommittee today questioned a witness from the Department of Justice about how the department decides which financial institutions are “too big to jail” and what information they rely upon to make such decisions. Read more »
The Oversight and Investigations Subcommittee continued its review of the Dodd-Frank Act’s failure to end “Too Big to Fail” with a hearing on Wednesday that focused on the Act’s bailout regime. Read more »
After two and half years, the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) have yet to clarify their authority under the Dodd-Frank Act to break up large financial institutions, leaving questions as to what their view of this authority is, the Financial Services Committee Oversight and Investigation Subcommittee learned at a hearing yesterday. Read more »
By ignoring the deadline to implement a key provision of a bipartisan law approved a year ago, the Securities and Exchange Commission (SEC) is costing America’s struggling economy desperately needed jobs, members of the Financial Services Oversight and Investigations Subcommittee said today during a hearing. Read more »
FHA
Government backing for the Federal Housing Administration (FHA) gives it competitive advantages over private sector mortgage insurers, driving them out of the marketplace and leaving homebuyers with fewer choices, witnesses told the Financial Services Subcommittee on… Read more »
Last week Chairman Hensarling and Oversight & Investigations Subcommittee Chairman McHenry sent a letter to Attorney General Holder and Treasury Secretary Lew seeking any and all documents related to the consideration of economic factors in the decision to prosecute large banks for financial crimes. The committee's investigation comes out of Mr. Holder's… Read more »
Nearly three years after enactment of the Dodd-Frank Act, two powerful regulators created under the law are not fulfilling their missionsand operate far from the public’s eye, according to a Government Accountability Office (GAO) report reviewed at aFinancial Services Oversight and Investigations Subcommittee hearing today. Read more »
