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7/21/14 Weekly Rundown

| Posted in Member Corner

On Wednesday at 10:00 a.m. the Full Committee will hold a hearing to assess the impact of the Dodd-Frank Act on its four-year anniversary. To view the committee staff report on “too big to fail” that was released today, click here. On Thursday at 10:00 a.m. the Capital Markets and Government Sponsored Enterprises Subcommittee will hold a hearing to examine the SEC’s Division of…

Report: Dodd-Frank Act Does Not End Too Big to Fail But Perpetuates It as Official Policy

| Posted in Press Releases

July 21, 2014 Report: Dodd-Frank Act Does Not End Too Big to Fail But Perpetuates It as Official Policy WASHINGTON - House Financial Services Committee Chairman Jeb Hensarling (R-TX) and Oversight and Investigations Subcommittee Chairman Patrick McHenry (R-NC) today released a committee staff report that concludes the Dodd-Frank Act did not end “too big to fail” as the law’s supporters…

Egregious Ex-Im Bank Deal of the Day

| Posted in Member Corner

With One Hand U.S. Sanctions Russian Companies, But With the Other…     The Export-Import Bank is financing deals with Russian companies hit by U.S. sanctions this past week.   Two of the four Russian firms targeted with new sanctions announced last week by the Obama administration have received more than $1 billion in U.S. taxpayer-financed subsidies from the…

FSC Majority | Week in Review

| Posted in Member Corner

Full Committee Receives Semi-Annual Testimony on Monetary Policy and the State of the Economy  On Wednesday, the full committee held a hearing to receive the semi-annual testimony from Federal Reserve Chair Janet Yellen on the conduct of monetary policy and the state of the economy.  Members of the committee called attention to the Federal Reserve…

Committee Hearing Schedule Week of July 21

| Posted in Press Releases

House Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the committee’s hearing schedule for the week of July 21st: Wednesday, July 23 at 10:00 A.M.- A full committee hearing to assess the impact of the Dodd-Frank Act four years after it was signed into law. During an interview on CNBC’s Squawk on the Street yesterday regarding Dodd-Frank’s upcoming fourth…

Egregious Ex-Im Bank Deal of the Day

| Posted in Member Corner

Ex-Im and the Democratic Republic of the Congo     President Obama and the First Lady pose with Denis Sassou-Nguesso, President of the DRC, and his wife, Mrs. Antoinette Sassou-Nguesso.   The U.S. Statement Department reports the…

Chairman Hensarling Comments on Senate Passage of TRIA Reauthorization

| Posted in Press Releases

Financial Services Committee Chairman Jeb Hensarling (R-TX) today made the following comments about the Senate’s passage of legislation to reauthorize the Terrorism Risk Insurance Program without meaningful reforms.  The Financial Services Committee passed a pro-reform bill – the TRIA Reform Act – on June 19: “The House has passed dozens of jobs bills that the Senate has completely…

Egregious Ex-Im Bank Deal of the Day

| Posted in Member Corner

$10.3 Million: Ex-Im Acted “Fast” for Crony-Connected Solyndra   “Ugh.”  That’s exactly how taxpayers feel after losing money not just once but twice on the crony-connected and now-failed solar panel manufacturer Solyndra. Interestingly, both projects for Solyndra were dealt with rather…