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Financial CHOICE Act Protects Taxpayers From Bailouts, Promotes Economic Growth The Financial Services Committee’s hearing on Tuesday focused on the new model offered by the Financial CHOICE Act in which banks operate at higher capital levels in exchange for relief from government micro-management. “The Financial CHOICE Act will relieve financial institutions from growth-strangling… Read more »

WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at a hearing with Housing and Urban Development Secretary Julian Castro about sudden policy changes the Secretary is making to the sale of nonperforming loans insured by the government: There has probably been no greater public policy mistake in housing than Washington… Read more »

WASHINGTON – The Financial Services Committee today approved a series of bills that are designed to prevent the sale of commercial passenger aircraft to Iran, the world’s foremost state sponsor of terrorism according to the U.S. State Department. “These bills are all part of a bipartisan effort to ensure that Iran does not have access to the U.S. financial system and that taxpayers and… Read more »

Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing focused on the capital requirements in the Financial CHOICE Act, the Republican alternative to the Dodd-Frank Act which will offer economic growth for all and bank bailouts for none: Regrettably, we… Read more »

WASHINGTON – Today, the House passed the National Securities Exchange Regulatory Parity Act of 2016, sponsored by Rep. Royce (R-CA), as amended. During a recent House Financial Services Committee Markup, Rep. Royce explained "The SEC’s interpretation of the law has created a two-tiered playing field by giving this 'blue sky' exemption only to these three exchanges which existed in 1996.… Read more »

WASHINGTON – Today, the Subcommittee on Financial Institutions and Consumer Credit held a hearing to examine the opportunities and challenges related to Financial Technology (FinTech), particularly the development of online marketplace lending. Online marketplace lenders use online lending platforms and underwriting algorithms to provide affordable and broad access to credit.  Over… Read more »

The House Financial Services Committee on Monday released a staff report of its investigation into the U.S. Department of Justice’s decision not to prosecute HSBC or any of its executives or employees for serious violations of U.S. anti-money laundering laws and related offenses. The Committee initiated its investigation in March 2013.  The Department of Justice (DOJ) and the… Read more »

Fixing American Finance Wall Street Journal Editorial July 10, 2016 House Republicans are rolling out their 2017 agenda, and one promising idea is Financial Services Chairman Jeb Hensarling’s plan for financial rules that promote economic growth and protect taxpayers. Don’t believe the shrieks that this is about… Read more »

WASHINGTON – The House on Monday passed three pieces of legislation from the Financial Services Committee’s Task Force to Investigate Terror Finance. During a June hearing, Terror Task Force Chairman Fitzpatrick (R-PA) stressed the importance of adaptive legislation “This Task Force continues to note that illicit actors are adaptive; constantly evolving their money-laundering and… Read more »