News List

WASHINGTON – The House on Monday passed two bipartisan bills designed to lessen regulatory burdens on small businesses. “I believe most of us would agree that our economy works better for all Americans when small businesses can focus on creating jobs rather than navigating bureaucratic red tape,” said Financial Services Committee Chairman Jeb Hensarling (R-TX). Both bills had previously… Read more »

Examining the CFPB’s Newest Rule to Hurt Consumers It would be difficult to find a consumer willing to pay more and wait longer only to receive a worse result.  But that’s what passes for consumer protection at the CFPB with its proposed rule to outlaw arbitration. On Wednesday, the Subcommittee on Financial Institutions and Consumer Credit held a hearing to review the Bureau’s… Read more »

WASHINGTON – Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the committee’s schedule for the week of May 23: Tuesday, May 24 at 10:00 A.M. – The Task Force to Investigate Terrorism Financing will hold a hearing – entitled “Stopping Terror Finance: A Coordinated Government Effort” – to examine federal efforts to combat the financing of terrorism and explore how… Read more »

WASHINGTON - The Financial Services Oversight and Investigations Subcommittee held a hearing today to determine whether the funneling of settlement funds to third party groups as part of the Obama Administration’s settlement agreements with banks subverted congressional appropriations powers. “Since last year, this committee has been investigating the Obama Administration’s use of bank… Read more »

You’d be hard-pressed to find a consumer willing to pay more and wait longer only to receive a worse result. But that is what’s passing for consumer protection these days in the eyes of the CFPB and its new proposal to outlaw arbitration. For the non-lawyers in the room, arbitration is a form of dispute resolution where parties… Read more »

WASHINGTON – A proposed regulation requiring financial companies to scrap arbitration contracts will lead to higher costs for consumers and less access to credit and new products, witnesses told members of the Subcommittee on Financial Institutions and Consumer Credit on Wednesday. The rule proposed by the Bureau of Consumer Financial Protection – perhaps the most powerful and least… Read more »

WASHINGTON - The Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises held a hearing today to review three legislative proposals to improve the struggling U.S. economy, which grew an abysmal 0.5 percent in the first three months of the year. “Despite the big promises that have come with granting vast… Read more »

WASHINGTON – By paying Federal Reserve member banks above-market interest on reserves, the Fed may be distorting investment decisions and weakening the economy’s performance, several witnesses told the Monetary Policy and Trade Subcommittee at a hearing on Tuesday. “Almost seven years old, the Fed’s colossal and distortionary balance sheet shows no sign of shrinking. We will not fully… Read more »

50 Years after the Creation of HUD: Comparing the U.S. and U.K. Housing Models On Thursday, the Housing and Insurance Subcommittee held a hearing to compare the housing models of the United States and the United Kingdom. The hearing was part of a series undertaken by the subcommittee to assess affordable and rental housing programs 50 years after the creation of the U.S. Department of… Read more »

WASHINGTON – Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the committee’s schedule for the week of May 16: Tuesday, May 17 at 10:00 A.M. – The Monetary Policy and Trade Subcommittee will hold a hearing entitled “Interest on Reserves and the Fed’s Balance Sheet.” The hearing will examine how the Fed’s ability to pay interest on reserves was authorized, how… Read more »