News List

July 13, 2017 President Trump still hasn’t dismissed Consumer Financial Protection Bureau director Richard Cordray despite several removable offenses. But Mr. Cordray is all but begging to be fired with his mandatory arbitration ban that brazenly flouts the law. The CFPB on Monday finalized a rule forbidding class-action waivers in arbitration agreements. Dodd-Frank prohibited… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s hearing with Federal Reserve Chair Janet Yellen on monetary policy and the state of the economy: Since we last convened to take Chair Yellen’s testimony on monetary policy, there have been encouraging economic headlines.  Confidence is up. … Read more »

WASHINGTON – The Financial Institutions and Consumer Credit Subcommittee met today to examine several pieces of legislation aimed at providing much needed regulatory relief for community financial institutions. “Our nation’s community financial institutions are getting buried under red tape,” said Chairman Blaine Luetkemeyer (R-MO). “Even today, a lender who serves many Missourians… Read more »

Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement today regarding the Consumer Financial Protection Bureau's controversial rule to prevent companies from using arbitration clauses: “This bureaucratic rule will harm American consumers but thrill class action trial attorneys.  In releasing this rule today, Director Cordray ignored a… Read more »

Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced that Federal Reserve Chair Janet Yellen will appear before the Committee on Wednesday, July 12 at 10 a.m. EDT to deliver the Federal Reserve’s semi-annual Monetary Policy Report to Congress and to discuss the state of the economy. The hearing will take place in Room 2128 of the Rayburn House Office Building.… Read more »

The Financial Institutions and Consumer Credit Subcommittee held a hearing today to examine the federal government’s anti-money laundering (AML) efforts under the Bank Secrecy Act (BSA). The primary focus of the hearing was to understand compliance challenges facing financial institutions, including compliance trends, the effectiveness of current reporting requirements, and opportunities… Read more »

WASHINGTON – The Monetary Policy and Trade Subcommittee held a hearing today to evaluate how Federal Reserve policies are adversely affecting households, small businesses, savers, and retirees, and consider policy opportunities that the Federal Reserve could implement to improve economic opportunities for all. “If monetary policy does not work, then our economy cannot work. This concern… Read more »

WASHINGTON – The Terrorism and Illicit Finance Subcommittee held a hearing today to examine the best ways to counter the plunder and sale of priceless cultural antiquities and art by terrorists and criminal enterprises. “During times of conflict we see an increased interest in the theft, fraud, looting, and trafficking of priceless religious and cultural sites for artifacts and other… Read more »

The House Financial Services Committee met today to complete deliberation of and pass several measures to reform and reauthorize the National Flood Insurance Program (NFIP), which is set to expire on September, 30, 2017. “While we have a responsibility to provide certainty to the homeowners and small business owners who rely on the NFIP for protection, we must also ensure that the… Read more »

The House Financial Services Committee met today to begin consideration of several measures to reform and reauthorize the National Flood Insurance Program (NFIP), which is set to expire on September 30, 2017. “We cannot continue to call on the American taxpayer to bailout a program that is currently drowning in $25 billion of red ink and suffers a $1.4 billion annual actuarial… Read more »