News List

Today, the House voted 288-130 to pass H.R. 3312, the Systemic Risk Designation Improvement Act of 2017, with bipartisan support. This bill – sponsored by Rep. Blaine Luetkemeyer (R-MO) and cosponsored by both Republicans and Democrats in the House – removes the arbitrary $50 billion asset threshold used in the Dodd-Frank Act to automatically designate certain financial institutions as… Read more »

The Subcommittee on Monetary Policy and Trade held a hearing today to examine the operations and challenges of the multi-agency Committee on Foreign Investment in the United States (CFIUS). The panel examines proposed foreign investments in the U.S. and can advise the president to block deals on national security grounds. “The statute under which CFIUS operates has not been updated in a… Read more »

The House of Representatives passed two important bipartisan pieces of legislation from the Financial Services Committee on Thursday that would cut outdated Washington regulations and increase Congressional oversight of business Treasury authorizes with Iran. H.R. 2396, the Privacy Notification and Technical Clarification Act Sponsored by Representative David Trott (R-MI), the Privacy… Read more »

The House on Wednesday passed the bipartisan “Iranian Leadership Asset Transparency Act” (H.R. 1638), which would make public the assets of top political and military leaders in Iran and how those assets are being used. Public reporting of the sources and uses of the concentrated wealth held by top Iranian leaders will help businesses throughout the world better choose legitimate… Read more »

This week, the Financial Services Committee approved 13 bills on a range of subjects from economic growth, to consumer protection, to Native American housing and human trafficking. This week’s markup follows a very productive year for the Committee, which has held 54 subcommittee hearings, 12 full committee hearings, and seven full committee markups since January, and has seen 31 of its… Read more »

The House passed bipartisan legislation on Tuesday that provides important regulatory relief for small banks and credit unions and protects consumer access to mortgage credit. The CFPB’s expansion of escrow requirements and guidance on escrow and mortgage servicing requirements are prime examples of the regulatory burden placed on community financial institutions. With the smaller staff… Read more »

By Jeb Hensarling December 12, 2017 There has been much news recently about who lawfully controls the Consumer Financial Protection Bureau, an appointee of Barack Obama or an appointee of Donald Trump. The CFPB may provide great political theater, but it represents profoundly bad government. Instead of allowing this controversy to devolve into… Read more »

The House today passed two bipartisan bills designed to help protect consumers and add much needed transparency for investors. H.R. 2706, the Financial Institution Customer Protection Act of 2017 sponsored by Rep. Blaine Luetkemeyer (R-MO), requires federal banking agencies to provide banks or credit unions written justification of any request to terminate or restrict a customer’s… Read more »

WASHINGTON – The House passed bipartisan legislation on Thursday to simplify regulations for small business owners who want to sell or merge their companies with new owners. The “Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act of 2017 (H.R. 477)” alleviates costs to small business owners by simplifying the securities registration system for mergers and… Read more »

The Subcommittee on Oversight and Investigations met today to examine the controversial Office of Financial Research (OFR), assessing its management and structure, public work-product, its cooperation with Congress, and support of the Financial Stability Oversight Council. OFR Director Richard Berner appeared as the hearing's sole witness. “From studies that impugn the workplace… Read more »