News List

The Terrorism and Illicit Finance Subcommittee held a hearing today to examine the terror and illicit financing risks that are inherent in asset transfers – specifically remittances and money transfers. “The size and complexity of the financial system in the United States means any financial institutions or business, payments system, or medium of exchange has the potential to be… Read more »

The Subcommittee on Capital Markets, Securities, and Investment held a hearing today to review the fixed income market structure. The hearing and witness testimony provided the Subcommittee with the background and foundation to examine the optimal design of the fixed income market based on today’s market conditions. The hearing also included an important discussion on the need for… Read more »

WASHINGTON – House Financial Services Chairman Jeb Hensarling (R-TX) issued the following statement today regarding the ever-growing list of actions, rules and regulations coming out of the CFPB over the last week – including finalization of updates to its “Know Before You Owe” mortgage disclosure rule, selection of new Consumer Advisory Board members, finalization of its arbitration… Read more »

The Subcommittee on Capital Markets, Securities, and Investment held a hearing today to examine the impact of the DOL fiduciary rule on the capital markets. The primary focus of the hearing was to discuss the unintended consequences of the DOL fiduciary rule on the U.S. capital markets, the need for that rule to be delayed, and that the Securities and Exchange Commission (SEC) must act as… Read more »

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 »