News List

  • Requiring Regulatory Accountability at the SEC
    May 13, 2013 - Problem: As an independent agency, the Securities and Exchange Commission (SEC) is not currently subject to President Obama’s Executive Order No. 13563. The order directs non-independent executive branch agencies to perform a cost-benefit analysis on proposed regulations, tailor those regulations t... More
  • Weekly Rundown
    May 13, 2013 - Three hearings, two suspensions and one rule bill on the floor makes for a busy week at the Financial Services Committee. Be sure to check back here on the Bottom Line Blog -- and subscribe to our email lists -- for updates throughout the week. Here’s what’s happening: On Wednesday the House will v... More
  • Weekend Must Reads
    May 10, 2013 - Bloomberg: Tea Party Rant II Awaits Next Homeowner Bailout On Feb. 19, 2009, CNBC editor Rick Santelli let loose on the floor of the Chicago Mercantile Exchange in response to President Barack Obama’s proposal to subsidize underwater mortgages. Santelli’s famous rant gave birth to the Tea Party. Oba... More
  • Subcommittee Discusses Defense Production Act Reauthorization
    May 8, 2013 - The House Financial Services Committee’s Monetary Policy and Trade Subcommittee heard testimony today on the importance of reauthorizing the Defense Production Act (DPA). The DPA was enacted at the outset of the Korean War to ensure the nation’s industrial resources would be available to meet the na... More
  • Dodd-Frank's Gift to AIG
    May 8, 2013 - In a recent interview on CNBC, AIG President & CEO Bob Benmosche, said he expects his company to receive “systemically important financial institution” (SIFI) status — regulator speak for “too big to fail” (TBTF) — when the Fed and FDIC belatedly determine what firms constitute such “grave threats”... More
  • Chairman Hensarling Opening Statement at Today's Full Committee Markup
    May 7, 2013 - Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement today at the committee’s markup of bipartisan legislation related to the JOBS Act and the derivatives title of the Dodd-Frank Act, and a bill to require the Securities and Exchange Commission (SEC)... More
  • Bipartisan Legislation on Derivatives, SEC Accountability & JOBS Act Implementation Passed in Full Committee Markup
    May 7, 2013 - The House Financial Services Committee today passed bipartisan bills to fix unintended consequences of derivatives provisions in the Dodd-Frank Act, to promote greater accountability at the Securities and Exchange Commission (SEC), and to help implement the JOBS Act. "At a time when far too many of... More
  • H.R. 742 Increases Global Swaps Market Transparency and Regulatory Corporation
    May 7, 2013 - Congressman Bill Huizenga joined us during the markup of H.R. 742 to discuss swap derivatives and why they're important to a range of industries and businesses. To ensure market transparency and global regulatory cooperation, the Dodd-Frank Act requires U.S. regulators to share information about th... More
  • Weekend Must Reads
    May 4, 2013 - George Will: Courts and Congress give Obama adult supervision Rep. Jeb Hensarling (R-Tex.), chairman of the Financial Services Committee, has told Richard Cordray not to bother. This is part of the recent evidence that government is getting some adult supervision. Barack Obama used a recess appointm... More
  • Chairman Hensarling Announces Hearing Schedule
    May 1, 2013 - Financial Services Committee Chairman Jeb Hensarling (R-TX) on Wednesday announced the committee’s upcoming hearing schedule. The committee’s schedule is tentative and will depend upon witness availability and other factors that may require changes. Therefore, each meeting will become final only whe... More