News List

WASHINGTON -- If all you knew about Mr. Brown was his surname, sex and zip code, do you think you could tell if he was black or white? The Consumer Financial Protection Bureau thinks it can – which is just one more reason it should be abolished.  The regulatory frenzy that accompanied President Barack Obama's first two years in office… Read more »

WASHINGTON – Financial Services Committee Chairman Jeb Hensarling (R-TX), who served on the Conference Committee for H.R. 22, the Fixing America’s Surface Transportation (FAST) Act, released the following statement:  “I want to commend Chairman Shuster for his dedication to an open process both in the House Transportation and Infrastructure Committee and on the House floor. His… Read more »

Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement about the emergency lending rule adopted by the Federal Reserve on Monday: “Five years after Dodd-Frank became law, ‘too big to fail’ is unfortunately alive and well and this rule from the Federal Reserve doesn’t change that.  Indeed, by leaving the door wide open to future taxpayer-funded… Read more »

A staff report by the Financial Services Committee uses internal CFPB e-mails and documents to reveal the Bureau is knowingly using flawed and inferior methods to allege racial bias in auto lending. The result of the CFPB’s efforts could mean higher consumer prices when it comes to buying a car or truck. To read the committee staff report, click here.   … Read more »

WASHINGTON -- The statistical method the Consumer Financial Protection Bureau (CFPB) is using to allege racial discrimination in auto lending is “prone to significant error,” according to internal Bureau documents obtained by the House Financial Services Committee.  In addition, internal memoranda reveal that senior Bureau officials warned CFPB Director Richard Cordray of the… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the committee’s tentative hearing schedule for the week of November 30th.  Wednesday, December 2nd at 10:00 A.M. - The Capital Markets and Government Sponsored Enterprises Subcommittee will hold a hearing to review three legislative proposals to enhance capital formation for small and medium-sized… Read more »

Consumer Watchdog Pushed Discrimination Case on Vulnerable Firm: Report Republicans say Consumer Financial Protection Bureau targeted Ally on likelihood of settlement to gain restructuring approval By YUKA HAYASHI Nov. 24, 2015 WASHINGTON—When federal regulators launched a controversial crackdown on alleged discrimination in auto lending two years ago, they knew their methodology… Read more »

  Since the 2008 financial crisis, the Federal Reserve has morphed into a government institution whose unconventional activities and vastly expanded powers would scarcely be recognized by drafters of the original legislation that created it. Regrettably, commensurate transparency and accountability have not followed.  Since… Read more »

House Passes Federal Reserve Transparency and Consumer Protection Bills This week the House of Representatives passed seven bipartisan Financial Services Committee bills, including bills to make the Federal Reserve more transparent and accountable and to protect consumers from the Consumer Financial Protection Bureau's (CFPB) harmful regulatory actions. The Fed Oversight Reform and… Read more »

WASHINGTON - This week the House passed seven bills with bipartisan support from the Financial Services Committee.  Below is the list of bills passed by the House: H.R. 3189, the “Fed Oversight Reform and Modernization Act of 2015” Sponsor: Rep. Bill Huizenga (R-MI) H.R. 3189 would improve the economy’s performance by bringing greater accountability and transparency to the… Read more »