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House Passes H.J.Res. 109 with Bipartisan Support to Overturn SEC’s SAB 121

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Today, the U.S. House of Representatives passed Representative Mike Flood’s (NE-01) bipartisan H.J.Res. 109, “Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to ‘Staff Accounting Bulletin No. 121.’” H.J.Res. 109 overturns the SEC’s SAB 121 under the Congressional…

Wagner Delivers Remarks at Hearing to Examine the SEC’s Enforcement Function

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Today, the House Financial Services Subcommittee on Capital Markets, led by Chairman Ann Wagner (MO-02), is holding a hearing entitled, “SEC Enforcement: Balancing Deterrence with Due Process.”   Watch Chairman Wagner’s opening remarks here.   Read Chairman Wagner’s opening remarks as prepared for delivery.   “I would like to thank you all for joining…

McHenry Calls on FDIC Chair Gruenberg to Resign Following Damning Independent Report from Cleary Gottlieb

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Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement in response to the independent report released today by Cleary Gottlieb regarding allegations of entrenched and widespread misconduct at the FDIC. “It’s time for Chair Gruenberg to step aside. The independent report released today details his inexcusable…

Rep. Flood Testifies in Support of H.J.Res. 109 to Overturn SEC’s SAB 121

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  Today, Representative Mike Flood (NE-01) appeared before the House Committee on Rules to speak in support of his resolution, H.J.Res. 109, “Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to ‘Staff Accounting Bulletin No. 121.’” H.J.Res. 109 overturns the…

Barr Delivers Remarks at Hearing to Examine Merger Policies of the Federal Banking Agencies

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Today, the House Financial Services Subcommittee on Financial Institutions and Monetary Policy, led by Chairman Andy Barr (KY-06), is holding a hearing entitled “Merger Policies of the Federal Banking Agencies.” Watch Chairman Barr’s opening remarks here.   Read Chairman Barr’s opening remarks as prepared for delivery:   “Mergers of financial…

HEARING NOTICE: Subcommittee on National Security, Illicit Finance, and International Financial Institutions

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Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced the following hearing:   National Security, Illicit Finance, and International Financial Institutions Subcommittee Hearing Entitled: “Mission Critical: Restoring National Security as the Focus of Defense Production Act Reauthorization, Part II”   Time: 2:00 PM ET Date:…

HEARING NOTICE: Subcommittee on Capital Markets

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Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced the following hearing:    Capital Markets Subcommittee Hearing Entitled: “SEC Enforcement: Balancing Deterrence with Due Process”   Time: 10:00 AM ET Date: Tuesday, May 7, 2024 Place: 2128 Rayburn House Office Building    Additional information regarding…

HEARING NOTICE: Subcommittee on Financial Institutions and Monetary Policy

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Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), announced the following hearing: Financial Institutions and Monetary Policy Subcommittee Hearing Entitled: “Merger Policies of the Federal Banking Agencies”   Time: 10:00 AM ET Date: Wednesday, May 1, 2024 Place: 2128 Rayburn House Office Building Additional information…

McHenry Delivers Remarks at Markup of Regulatory Oversight Legislation

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Today, the House Financial Services Committee is holding a markup of various measures, including a slate of Congressional Review Act (CRA) resolutions to nullify a series of gross regulatory oversteps on the part of Biden’s banking regulators. The Committee will also consider measures to preserve and promote innovation in financial services and correct provisions in existing law…

House Passes Bipartisan Iran Counterterrorism Act

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Today, the U.S. House of Representatives passed Representative Young Kim’s (CA-40) H.R. 6323, the Iran Counterterrorism Act of 2023. H.R. 6323, requires Iran to cease support for acts of international terrorism as a condition for the President to waive secondary sanctions imposed on the regime in Tehran. The bill also provides for a congressional review process for national security…

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