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Weekend Must Reads

| Posted in Member Corner

Wall Street Journal’s Mary Kissel: Disdain for the Courts The House Financial Services Committee disinvited Consumer Financial Protection Bureau chief Richard Cordray from testifying Tuesday, noting President Obama's non-recess, recess appointment of Mr. Cordray and a January D.C. Circuit Court of Appeals decision, Noel Canning v. NLRB, that invalidated other…

Committee Will Follow the Law on CFPB Testimony

| Posted in Member Corner

  Chairman Jeb Hensarling announced this week that the committee cannot legally accept testimony from Richard Cordray on the Consumer Financial Protection Bureau’s (CFPB) semi-annual report until he is legally installed as the CFPB Director.  However, the committee will continue to conduct rigorous oversight of the CFPB, and has already invited CFPB officials to…

Chairman Hensarling Outlines Steps for Sustainable Housing Policy

| Posted in Press Releases

Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s committee hearing on regulatory impediments to the re-entry of private capital in the housing finance sector. The committee has been holding a series of hearings on the need to create a sustainable housing finance system:

What They're Saying: CFPB Director Appointment is Invalid, Illegal, Unconstitutional

| Posted in Member Corner

“President Obama's attempt to unilaterally appoint three people to seats on the National Labor Relations Board and Richard Cordray to head the new Consumer Financial Protection Bureau is more than an unconstitutional attempt to circumvent the Senate's advise-and-consent role. It is a breathtaking violation of the separation of powers and the…

Wagner: It’s past time for the SEC to implement the JOBS Act

| Posted in Member Corner

By Ann Wagner A little over a year ago, Congress passed the Jumpstart Our Business Startups (JOBS) Act. The JOBS Act was designed to make it easier for entrepreneurs to raise capital and turn their ideas into job-creating businesses that might one day go public. At a time of slow growth and high unemployment, the JOBS Act was a big win for the…

Hensarling: CFPB Has No Valid Director So Financial Services Committee Cannot Accept Testimony on Semi-Annual Report

| Posted in Press Releases

The House Financial Services Committee cannot legally accept testimony from Richard Cordray on the Consumer Financial Protection Bureau’s (CFPB) semi-annual report until he is validly appointed as the bureau’s director, said Rep. Jeb Hensarling (R-TX), the committee’s chairman. However, the committee will continue to conduct rigorous oversight of the CFPB.

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