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Committee Holds Hearing on FHA’s First-Ever Taxpayer Bailout on Tuesday

| Posted in Press Releases

Washington’s latest taxpayer-funded bailout –$1.7 billion for the Federal Housing Administration (FHA) – will be the focus of a hearing on Tuesday at 10 a.m. by the House Financial Services Committee. FHA Commissioner Carol Galante will testify before the committee about the FHA’s first-ever bailout, which was announced on September 27 and carried out on September 30.

Weekly Rundown

| Posted in Member Corner

The House is in session Monday through Wednesday this week and will consider two Financial Services bills. Additionally, the committee will hold two hearings. Be sure to check back here on the Bottom Line Blog -- and sign up for our email updates -- for more information throughout the week.  Here's what's happening:  On Tuesday at 10 a.m. the Full Committee…

Chairman Hensarling on Fox Business: "A Broke FHA Does No One Any Good"

| Posted in Member Corner

Chairman Hensarling appeared on Fox Business Network earlier today to discuss tomorrow's Full Committee hearing on the $1.7 billion taxpayer-funded bailout the Federal Housing Administration (FHA) received at the end of September.    Hensarling on FHA's current condition:  "Well as you probably know, FHA is about to receive their first bailout…

Sunday Video Message | Rep. Ann Wagner

| Posted in Member Corner

  Congresswoman Ann Wagner (Twitter | Facebook) delivers this week's Sunday Video Message on her legislation -- H.R. 2374, the Retail Investor Protection Act. H.R. 2374 will be considered on the House floor this week.

Who Protects Consumers from the Consumer Financial Protection Bureau?

| Posted in Member Corner

Update 11/18/13: The full committee will consider six bills to reform the CFPB on Wednesday.  Next week the Financial Institutions and Consumer Credit Subcommittee will hold a hearing to discuss legislative proposals to bring more accountability, reform and transparency to the Consumer Financial Protection Bureau (CFPB). As Chairman Hensarling has pointed out, the…

Weekend Must Reads

| Posted in Member Corner

Forbes | Dodd-Frank’s Costs Will Be Paid For By Low-Income Bank Customers A whole segment of society is losing access to mainstream banking that allows them to safely save and invest for the future.  They are being pushed into nontraditional financial arrangements not by choice, but because of Dodd-Frank. NRO | 10 Questions for Janet Yellen With Janet Yellen…