News List

Federal Reserve Chair Testifies Before the Committee “Economic growth has been quite disappointing,” Federal Reserve Chair Janet Yellen acknowledged to the Financial Services Committee on Wednesday during her Semi-Annual Monetary Policy Report to Congress, echoing points made by Chairman Jeb Hensarling (R-TX) during his opening statement that Americans have suffered through eight years of… Read more »

Members of the Financial Services Housing and Insurance Subcommittee met on Thursday to discuss and hear expert testimony on the recently announced “covered agreement” reached between the United States and the European Union on insurance and reinsurance. “I believe this committee should seriously consider improvements to international insurance negotiations more generally to enhance the… Read more »

Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing to receive the Monetary Policy and State of the Economy report from Federal Reserve Chair Janet Yellen: After eight years of the largest monetary policy stimulus in our history and the most unconventional monetary policy in our history, Americans… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) said today’s announcement that Federal Housing Administration mortgage delinquencies jumped at the end of 2016 shows President Trump made the right decision to suspend and review the outgoing Obama Administration’s lowering of FHA mortgage insurance premiums. “Essentially as… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) addressed the future of the Consumer Financial Protection Bureau (CFPB) during an interview with Bloomberg TV on Tuesday.Below are excerpts from the interview: “I want to protect consumers from the Orwellian-named Consumer Financial Protection Bureau. That’s the most important thing we want to do. It is a rogue agency, it has been ruled unconstitutional…In a democracy, one person should not have the ability to determine what credit cards go in our wallets, what checking accounts we can have, or even if we can have a mortgage.” “In many respects, this agency is not just involved in law enforcement, which it should be, but it is actually creating law, and is unaccountable. That has to change. We are trying to ensure that number one, it is Constitutional, and number two, it protects consumers.The greatest way to protect consumers is to ensure we have competitive, innovative, vibrant credit markets. In many respects, CFPB has hurt them.” “We need an agency to enforce our consumer laws. We need Congress to create the consumer laws. Unfortunately, again, CFPB should not be in the business of creating law. They ought to be in the business of respecting due process. So we will have an agency, whether or not the name is changed on the door, whether we have the Federal Trade Commission enforce our roughly 18 major consumer laws, whether we have our banking regulators do it.” “There are still bad players out there. I mean witness Wells Fargo. Individuals need to be held accountable, which is one of the reasons in the Financial CHOICE Act why we have some of the strongest penalties for wrongdoing and insider trading that have ever been written on the books. So we need an agency to do this, but this one has harmed consumers more than they have helped them.” For more information about the Financial CHOICE Act, click here. Read more »

Several members of the House Financial Services Committee attended the signing ceremony at the White House today for legislation (House Joint Resolution 41) repealing a controversial Dodd-Frank Act regulation that puts American public companies at a disadvantage against many foreign competitors.  They released the following statements: Chairman Jeb Hensarling (R-TX): “The economic… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement on Monday: “I congratulate Steven Mnuchin on his confirmation to serve as Treasury Secretary, and I look forward to working with him in my capacity as Chairman of  the Financial Services Committee to advance policies that will help all Americans raise their standard of living and… Read more »

Committee Approves Oversight Plan for the 115th Congress The Financial Services Committee met on Tuesday to approve the committee’s oversight plan for the 115th Congress. Chairman Hensarling reminded all members of the committee’s obligation to America’s hardworking taxpayers.  “We need to always remember that this isn’t Washington’s money; it is the taxpayers’ money. Taxpayers work… Read more »

Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the committee’s schedule for the week of February 13. Wednesday, February 15 at 10:00 a.m. – Federal Reserve Chair Janet Yellen will appear before the committee for the Fed’s semi-annual Monetary Policy Report to Congress. Due to limited space, press seats will be given out in the order in which they are requested… Read more »

By: Jeb Hensarling Wall Street Journal February 9, 2017 The Obama presidency placed no greater burden on America’s growth potential than the avalanche of regulations that smother the U.S. economic system. The most destructive and dangerous of the new regulatory bureaucracies created by the Democrat-dominated 111th Congress is the Consumer Financial Protection Bureau. The CFPB stands… Read more »