A staff report by the Financial Services Committee uses internal CFPB e-mails and documents to reveal the Bureau is knowingly using flawed and inferior methods to allege racial bias in auto lending. The result of the CFPB’s efforts could mean higher consumer prices when it comes to buying a car or truck. To read the committee staff report, click here.
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Consumer Watchdog Pushed Discrimination Case on Vulnerable Firm: Report
Republicans say Consumer Financial Protection Bureau targeted Ally on likelihood of settlement to gain restructuring approval
By YUKA HAYASHI
Nov. 24, 2015
WASHINGTON—When federal regulators launched a controversial crackdown on alleged discrimination in auto lending two years ago, they knew their methodology… Read more »
WASHINGTON - The Financial Services Monetary Policy and Trade Subcommittee today held a hearing as part of the full committee’s continued oversight of the the Dodd-Frank Act, signed into law by President Obama five years ago.
Today’s hearing focused on the conflict minerals provision in Dodd-Frank. Section 1502 of Dodd-Frank requires public companies to disclose whether they source… Read more »
Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s hearing with Federal Reserve Chair Janet Yellen on the Fed’s supervision and regulation of the financial system:
The Dodd-Frank Act requires the Federal Reserve’s Vice Chair of Supervision to testify before our committee twice a year regarding the Fed’s supervision and… Read more »
The Financial Services Committee approved several bills today designed to support greater economic growth and increase oversight and accountability of unchecked financial regulators.
“Instead of ending ‘Too Big to Fail’ and taxpayer-funded Wall Street bailouts, the Dodd-Frank Act enshrines them into law. Dodd-Frank increases the power and control that largely unaccountable… Read more »
Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee markup of five bills to empower consumers and job creators:
The Committee meets to consider five important bills, the majority of them bipartisan and all of them designed to protect consumers and help build a healthier economy.
Consumers are understandably… Read more »
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WASHINGTON- Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing to examine America’s economic prosperity in the five years since the Dodd-Frank Act became law. This hearing is the latest in a series… Read more »
WASHINGTON- The Financial Services Committee held a full committee hearing today to examine America’s economic prosperity in the five years since the Dodd-Frank Act became law. This hearing was the latest in a series focused on the impact Dodd-Frank has had on prosperity, freedom and financial stability:
When he signed Dodd-Frank into… Read more »
Dodd-Frank turns 5: What mess
…what Dodd-Frank actually did was to deliver yet another massive government intervention to cover up the lies of past government interventions that directly led to last decade's economic meltdown.
…What an absolute mess. And it's exactly what you get when,… Read more »
This month marks the fifth anniversary of the passage of the Dodd-Frank Act. This law was hastily enacted as a reaction to the financial crisis and is filled with unintended consequences and misguided policies. While Dodd-Frank supposedly targeted Wall Street, it is Main Street that has felt the brunt of its costly and overwhelming regulations.
Republican Members of the Financial… Read more »
