Nearly three years after enactment of the Dodd-Frank Act, two powerful regulators created under the law are not fulfilling their missionsand operate far from the public’s eye, according to a Government Accountability Office (GAO) report reviewed at aFinancial Services Oversight and Investigations Subcommittee hearing today. Read more »
Government backing for the Federal Housing Administration (FHA) gives it competitive advantages over private sector mortgage insurers, driving them out of the marketplace and leaving homebuyers with fewer choices, witnesses told the Financial Services Subcommittee on Housing and Insurance today. Read more »
In January, a federal court held that the Senate was not in recess when President Obama made three appointments to the National Labor Relations Board (NLRB). In deeming those appointments unconstitutional, the court invalidated decisions made by the NRLB during the illegal appointments.
While the court ruled only on the NLRB appointments, Richard Cordray, the President's nominee to… Read more »
“We talked about cash on balance sheets not deployed…People just sitting on cash because interest rates are too low and returns are too low now, but they think that they will go up in the future. So, everyone just sits until the Fed takes action. Rather than trying to read the market, they are trying to read what the Fed is going to do - which is… Read more »
Many of the interest groups that directly benefit from large subsidizations in the housing market continue to state that Fannie and Freddie fell victim to the bad private market participants. This suggestion is completely false. It was government housing policy, coupled with loose money from the Federal Reserve, that caused the housing bubble and those are the areas where we must focus reform. Read more »
Financial Services Capital Markets and Government Sponsored Enterprises Subcommittee Chairman Scott Garrett (R-NJ) delivered the following opening statement at today's hearing. Read more »
"I believe… the economic challenges of our nation are fiscal in nature, not monetary. They cannot be solved by the Fed."
– Chairman Jeb Hensarling
"There seems to be…a lot of evidence out there that the benefits of the low interest rate and quantitative easing are accruing primarily to the federal government, foreign governments and large banks.”
– Monetary Policy &… Read more »
House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing with Federal Reserve Chairman Ben Bernanke. Read more »
Chairman Jeb Hensarling today announced the Financial Services Committee’s schedule of hearings for the month of March. Throughout the month, the committee will focus attention on the Federal Reserve’s conduct of monetary policy, the need for a sustainable housing finance system, regulatory burdens hindering economic growth, and ending “Too Big to Fail.”
All hearings will take… Read more »
