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Chairman Hensarling: "For us to have a healthy economy, we must put the nation on a sustainable fiscal path. And to have a sustainable fiscal path, we must also have a sustainable housing finance system. I have grave fears that FHA, as it is operating today, is an impediment to both."

| Posted in Press Releases

WASHINGTON- House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing titled “Bailout, Bust, or Much Ado About Nothing?: A Look at the Federal Housing Administration’s 2012 Actuarial Report.”

Chairman Hensarling: "Open Question Whether FHA Has Now Morphed into Countrywide. Arguably, the FHA Has Now Become the Nation's Largest Subprime Lender"

| Posted in Press Releases

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s hearing on the proper role of the Federal Housing Administration (FHA) in the nation's mortgage insurance market.  Today's hearing is the first in a series of hearings the committee plans on the FHA.    "Last week many of us awoke to…

Committee Maintains Focus on Economy and Jobs

| Posted in Press Releases

Financial Services Committee Chairman Spencer Bachus announced the Committee’s planned schedule for the weeks of May 23 and May 30. The schedule shows the Committee will continue focusing on policies that encourage economic growth and job creation.   “Promoting policies that will strengthen our economy and create jobs remains our Committee’s top priority,” said Chairman…

Democrats were for a CFPB commission…before they were against it

| Posted in Member Corner

WASHINGTON – Attacks from Democrats claiming a bipartisan commission to oversee the Consumer Financial Protection Bureau (CFPB) is somehow “anti-consumer” ring hollow in light of the record.  Until recently, many of these same Democrats supported, proposed and voted for exactly such a commission.  Below is a timeline showing the evolution of Democratic support for a…

H.R. 1573

| Posted in Legislation

Representatives Spencer Bachus (R-AL), Frank Lucas (R-OK), K. Michael Conaway (R-TX), and Scott Garrett (R-NJ) introduced H.R. 1573, which would extend the deadline by 18 months for implementing Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill gives the regulatory agencies more time to effectively meet the objectives of the derivatives title, to…