House Financial Services Committee Chairman Jeb Hensarling (R-TX) reacted to comments made on Tuesday by the committee’s ranking member, Rep. Maxine Waters (D-CA), that overregulation of community banks is a myth “that too many folks have bought into”:
“Some Democrats may deride small towns as ‘flyover country,’ but in many places community banks are the only available option for… Read more »
House Financial Services Committee Chairman Jeb Hensarling (R-TX) notified CFPB Director Richard Cordray in a letter today that a recent federal court ruling means the Bureau must now follow executive orders requiring agencies to ensure the benefits of their proposed regulations outweigh the costs.
In addition, the Bureau must now abide by executive orders requiring consultation with… Read more »
Just last week the White House was claiming that the crushing regulatory burden of the Dodd-Frank Act wasn’t harming community banks – not one bit.
Community bankers, credit union leaders and small business owners told us that’s absolutely not true.
Today’s report from Bloomberg (Headline: Bank Mergers Heading for Seven-Year High, Pushed by Costly Rules) once again exposes how feeble… Read more »
Financial Services Committee Chairman Jeb Hensarling (R-TX) made the following comments today on the sixth anniversary of the failed Dodd-Frank Act being signed into law:
"One of the main reasons why we’re stuck in the worst economic recovery of our lifetimes is the Dodd-Frank Act, a grave mistake Democrats inflicted upon the American people six years ago today.
"Only Washington… Read more »
Holding Bureaucrats Accountable and Helping Main Street Grow
Two committee priorities – holding Washington accountable and growing Main Street’s economy – were on the House floor this week in the form of Rep. Tom Emmer’s (R-MN) “Financial Stability Oversight Council Reform Act” and Rep. Mia Love’s (R-UT) regulatory relief bill for small community banks. Both passed the House and now… Read more »
WASHINGTON- Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following remarks on the House floor today in support of H.R. 3791, legislation to help small community banks raise capital and serve their customers:
Mr. Speaker, I rise today in strong support of H.R. 3791, which is a much-needed regulatory… Read more »
WASHINGTON- Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following floor statement in support of H.R. 3340, the Financial Stability Oversight Council Reform Act:
Mr. Speaker, I rise in strong support… Read more »
Secrecy surrounding how Washington regulators determine whether the “living wills” submitted by banks are credible “could undermine public and market confidence,” according to a new report released today by the Government Accountability Office (GAO).
“Without greater transparency, the lack of clear understanding of the regulators’ decisions…may… Read more »
Two separate reports published at the end of 2015 paint an ugly picture of the impact the Dodd-Frank Act is having on America’s community banks, credit unions, and the customers they serve.
The first report from the Dallas Federal Reserve concluded that in the era of Dodd-Frank’s regulatory onslaught, many community financial institutions may be “too small to succeed.” The report went to… Read more »
Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement about the emergency lending rule adopted by the Federal Reserve on Monday:
“Five years after Dodd-Frank became law, ‘too big to fail’ is unfortunately alive and well and this rule from the Federal Reserve doesn’t change that. Indeed, by leaving the door wide open to future taxpayer-funded… Read more »
