News List

FACT: Two Russian firms targeted with U.S. sanctions due to Russia’s invasion of Ukraine were approved for more than $1 billion in U.S. taxpayer-subsidized financing from the Export-Import Bank. According to articles in the Wall Street Journal and Investor’s Business Daily, one of these Russian state-owned firms, Vnesheconombank, maintains a close business relationship with a major… Read more »

Subcommittee Conducts Oversight on Hurricane Sandy Claims The need to reform the National Flood Insurance Program and allegations that Hurricane Sandy victims were cheated out of flood insurance claims due to bogus home inspection reports were the focus of a hearing on Tuesday held by the Housing and Insurance Subcommittee. The subcommittee, chaired by Rep. Blaine Luetkemeyer (R-MO),… Read more »

LINK TO STORY The 80-year old Export-Import Bank will begin to wind down on June 30, unless Congress renews it again. Republicans in the House and Senate need to let it expire—and as chairman of the House Financial Services Committee, I am helping lead the charge to see that we do. Ex-Im arranges taxpayer-backed financing to… Read more »

  CLICK HERE TO WATCH This morning the House Financial Services Committee released its latest video:  Ex-Im By the Numbers.  The 50-second video includes information about the $112 billion in taxpayer money Ex-Im puts at risk, that 99 percent of U.S. exports are… Read more »

  CLICK HERE TO WATCH Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing to examine the Export-Import Bank’s reauthorization request.  This is the… Read more »

Witnesses appearing before the House Financial Services Committee today at a hearing on the Export-Import Bank are testifying that Ex-Im harms some American jobs, tilts the playing field against some U.S. companies and has problems with corruption. Excerpts from their submitted testimony are below: Corruption, Bribes “We found Ex-Im Bank’s risk assessment for FY 2014 reporting… Read more »

    By Dallas Morning News Editorial Board June 1, 2015 Congress returns to its business facing a question that manifestly affects our business: How much should the federal government jam a meaty thumb onto the scale and favor one company over another? This is what the Export-Import Bank of the United States… Read more »

  By Wall Street Journal Editorial Board May 25, 2015 LINK TO STORY The Federal Reserve Bank of Richmond has again done the public service of toting up all the implied and explicit government guarantees backing the U.S. financial system. Are you sitting down? Richmond Fed researchers find that as of the end of 2013 taxpayers were standing behind nearly $26 trillion of financial… Read more »

Committee Passes 13 Jobs Bills The committee passed 13 bills on Wednesday to help Main Street businesses gain access to the capital they need to grow and create jobs.  "We still have millions and millions of our fellow countrymen, hardworking moderate-income taxpayers, who find themselves with stagnant to lower paychecks; bank accounts that are less than before the great economic… Read more »

Financial Services Committee Chairman Jeb Hensarling (R-TX) issued a subpoena today to the Federal Reserve for its failure to comply with document requests from the committee for information concerning the leak of market-sensitive Fed deliberations to a private financial newsletter. Chairman Hensarling made the following statement today: “This leak is another troubling example of the… Read more »