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HUD IG: Department’s Eight Year Delay Impacts FHA Fund by $15 Billion

| Posted in Member Corner

Last week, the Oversight and Investigations Subcommittee questioned the Department of Housing and Urban Development's (HUD) Inspector General, David Montoya, about reducing waste, fraud, and abuse in the department’s housing programs. All totaled, the latest IG report identified more than $770 million in questionable costs and included recommendations for putting $739.5 million in HUD…

Weekly Rundown

| Posted in Member Corner

The House is in session Tuesday through Friday this week and the committee has two scheduled 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 Wednesday at 10 a.m. the Capital Markets & GSEs Subcommittee will examine the SEC's money market…

Sunday Video Message | Rep. Sean Duffy

| Posted in Member Corner

Financial Institutions & Consumer Credit Subcommittee Vice Chairman Sean Duffy (Twitter | Facebook) delivers this week's Sunday Video Message on our recent hearing with Consumer Financial Protection Bureau (CFPB) Director Richard Cordray and his own legislation to curb the CFPB's collection of Americans' personal financial data.

Chairman Hensarling Opening Statement at Hearing on CFPB Semi-Annual Report

| Posted in Press Releases

WASHINGTON --  Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today's full committee hearing on the Consumer Financial Protection Bureau's Semi-Annual Report with Director Richard Cordray:  “This morning we welcome Director Richard Cordray, Director of the CFPB, to deliver the bureau’s latest semi-annual report.…

CFPB Promises Answers, Fails to Deliver

| Posted in Member Corner

Consumer Financial Protection Bureau Deputy Director Steve Antonakes appeared before the Subcommittee on Financial Institutions and Consumer Credit in July to discuss the CFPB’s data collection efforts. Below are just a few of the simple questions Mr. Antonakes was unprepared to answer:  How much data is the CFPB collecting and from how many individual consumers?  …

Subcommittee Reflects on a Century of Central Banking

| Posted in Press Releases

As the Federal Reserve marks the 100th anniversary of its creation this year, the Financial Services Subcommittee on Monetary Policy and Trade today kicked off a series of oversight hearings to examine the central bank’s conduct of monetary policy.

Weekly Rundown

| Posted in Member Corner

Congress is back from the August District Work Period and in the Financial Services Committee, we're getting straight to work with three hearings in three days. 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:  Leading off the week…