News List

The Domestic Monetary Policy and Technology Subcommittee, chaired by Rep. Ron Paul, will question Federal Reserve Bank of Kansas City President Dr. Thomas Hoenig about the Federal Reserve’s role in the economy and the likelihood of QE3 during a hearing on July 26. Dr. Hoenig is the longest-serving of the 12 presidents of the regional Federal Reserve Banks. The hearing will examine… Read more »

The kind of agency the Harvard professor was for before she was against it. In the hyperbole department, does anyone do it better than Elizabeth Warren? Yesterday she told reporters that today's House vote on a Consumer Financial Protection Bureau reform bill is an effort to "try and kill this agency." Little did we know that accountability and murder were synonymous in the Harvard law… Read more »

Promises are unfulfilled while the costs are real By Rep. Sean Duffy It was one year ago today that President Obama signed the so-called "Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010." Like other signature pieces of legislation of this administration, the name can be misleading. Like the so-called "stimulus" that stimulated nothing but more government debt, this… Read more »

By. Representative Jeb Hensarling (R-Texas) Some anniversaries are better left uncelebrated and the one-year anniversary of the enactment of the 2010 Dodd-Frank Act is certainly one of them. Of all the federal government’s confidence killers over the past several years—from the failed “stimulus” package to the government takeover of health care—the Dodd-Frank Act ranks right with them as… Read more »

On a bipartisan vote of 241 to 173, the House of Representatives approved legislation to bring accountability, transparency, and oversight to the Consumer Financial Protection Bureau (CFPB). The Dodd-Frank Act, signed into law a year ago, established the CFPB as an independent bureau within the Federal Reserve.  Under Dodd-Frank, the CFPB is run by a single director who has… Read more »

The Financial Services Committee, chaired by Rep. Spencer Bachus, approved legislation to bring transparency to the FDIC’s bank closure process and procedures. H.R. 2056, authored by Rep. Lynn Westmoreland, requires the FDIC Inspector General to study issues raised by the recent rash of bank failures since 2008. The legislation was approved by a voice vote. Chairman Bachus said, “As… Read more »

The Financial Services Committee approved legislation sponsored by Chairman Spencer Bachus today to equip new manufactured homes with NOAA weather radios so residents can receive earlier storm warnings. The bill was approved by a voice vote. The bill, C.J.’s Home Protection Act (H.R. 1751), is named in honor of C.J. Martin, a two-year-old who died in 2005 when a tornado struck his… Read more »

Financial Services Committee Chairman Spencer Bachus issued the following statement in response to a press conference held by Democrats on Wednesday about legislation the House will consider on Thursday to bring needed accountability to the Consumer Financial Protection Bureau (CFPB): “It is amazing that suddenly the Democrats believe placing the CFPB under the direction of a… Read more »

During a markup today, the Financial Services Committee continued its effort to eliminate some of the job destroying provisions in the Dodd-Frank Act.  In approving H.R. 1539, introduced by Rep. Steve Stivers, the Committee repealed Section 939G of the Dodd-Frank Act, which completely shut down the asset-backed securitization market shortly after Dodd-Frank’s enactment in July 2010.… Read more »

The failures of the Dodd-Frank Act continue to mount. Dodd-Frank Risk Panel Delays Create ‘Guessing Game’ By Cheyenne Hopkins and Ian Katz - Jul 18, 2011 Posted at Bloomberg.com A team of regulators charged with preventing another financial crisis is fending off criticism it’s moving too slowly to identify the firms whose failure could pose a threat to the economy. The year-old… Read more »