News List

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 »

Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following comments during the House’s debate on legislation to reform the Federal Reserve to make it more transparent and  accountable to the American people: I rise in strong support of H.R. 3189, the FORM Act, to reform the Federal Reserve. It is sponsored by the gentleman from Michigan, Mr.… Read more »

WASHINGTON- In an ongoing effort to keep the dangerously unaccountable and powerful Consumer Financial Protection Bureau (CFPB) from harming consumers, the House today passed two bipartisan bills to correct two of the Bureau’s damaging regulatory actions.  H.R. 1737, the Reforming CFPB Indirect Auto Financing Guidance Act The CFPB has created enormous uncertainty in the indirect… Read more »

WASHINGTON -- Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at this morning’s oversight hearing on the Securities and Exchange Commission: This Committee is committed to conducting vigorous oversight of the SEC because the SEC’s three-part mission is an important one as Americans continue to struggle through an economy that is… Read more »