News List

A group of House Republicans and Democrats on Friday introduced legislation to nullify a controversial rule that would effectively ban millions of consumers from accessing short-term, small-dollar credit.  The rule was issued by the former director of the Consumer Financial Protection Bureau (CFPB) shortly before he left office. Short-term, small dollar credit is essential to nearly… Read more »

The House passed bipartisan legislation on Friday that protects consumers’ ability to become homeowners and access affordable housing. Manufactured housing serves as an affordable housing option for roughly 22 million Americans and represents the largest form of unsubsidized affordable housing in the nation. Yet over-zealous regulation by the CFPB has made it harder for working families… Read more »

The Monetary Policy and Trade Subcommittee held a hearing today to examine the Administration’s use of economic sanctions to achieve foreign policy objectives and their effectiveness. “From Iran to North Korea, to Russia and Venezuela, sanctions are increasingly used as an instrument in our foreign policy toolkit, and Congress must ensure that they are achieving results,” said… Read more »

The Fox Business Channel this morning reported on two Financial Services Committee staff reports issued earlier this year that reveal the Consumer Financial Protection Bureau was asleep at the wheel when it came to protecting consumers from the Wells Fargo fraudulent accounts scandal. The reports, which can be read here and here, “reveal a… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement on President Trump’s nomination of Dr. Marvin Goodfriend to the Federal Reserve’s board of governors: “I commend President Trump for this nomination.  Dr. Marvin Goodfriend is a highly respected researcher on monetary- and macroeconomics and an impeccable conservative.  He… Read more »

WASHINGTON – The Subcommittee on Capital Markets, Securities and Investment held a hearing Thursday to examine the security of the Consolidated Audit Trail (CAT), a central repository for order and trading activity data. “The importance of cybersecurity cannot be overstated,” said Subcommittee Chairman Bill Huizenga (R-MI). “The ability … to safeguard non-public financial information… Read more »

The Financial Institutions and Consumer Credit and Terrorism and Illicit Finance Subcommittees held a joint hearing today to discuss two legislative proposals, the “End Banking for Human Traffickers Act of 2017” and the “Counterterrorism and Illicit Finance Act” (CTIF), that will counter human trafficking and illicit finance, as well as improve information sharing. “From the Treasury… Read more »

The Housing and Insurance Subcommittee met today to assess the role of the Government National Mortgage Association – commonly referred to as “Ginnie Mae” – as members continued to examine the need to reform the U.S. housing finance system. “It’s important that we understand how Ginnie has been able to manage their growth, which has been significant, and their responsibility to the… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) was interviewed on Tuesday and Wednesday about the change in leadership at the Consumer Financial Protection Bureau (CFPB). Click on the images below to watch. “This is a last, desperate gasp of the previous director who came in under a legal cloud and he will go out under a… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement upon the appointment of OMB Director Mick Mulvaney to serve as Acting Director of the Consumer Financial Protection Bureau (CFPB): “I congratulate President Trump on appointing OMB Director Mulvaney as Acting Director of the CFPB. Mick is a close friend and a dedicated public servant - I… Read more »