WASHINGTON – Attacks from Democrats claiming a bipartisan commission to oversee the Consumer Financial Protection Bureau (CFPB) is somehow “anti-consumer” ring hollow in light of the record.
Until recently, many of these same Democrats supported, proposed and voted for exactly such a commission.
Below is a timeline showing the evolution of Democratic support for a… Read more »
Earlier today, a coalition of liberals groups released a letter claiming a bill (H.R. 1121) putting a bipartisan commission in charge of the Consumer Financial Protection Bureau (CFPB) is bad for consumers.
It cannot escape notice that these same liberal groups endorsed proposals by Democrats and the Obama Administration in 2009 to put a bipartisan commission in charge of the… Read more »
Claim: During a May 10 appearance on MSNBC, Ranking Member Barney Frank said, “We will be voting this week in the Committee on Financial Services on a Republican bill, believe it or not, which would make it impossible to deal with speculation in the oil industry.”
FACT: Don’t believe it because this allegation is simply untrue. The Commodity Futures Trading Commission… Read more »
The Financial Institutions and Consumer Credit Subcommittee, chaired by Rep. Shelley Moore Capito, approved three bills to improve the Consumer Financial Protection Bureau (CFPB) on April 4th. On Thursday of this week, the Financial Services Committee is scheduled to markup all three of these bills, which are:
The Responsible Consumer Financial Protection Regulations Act of 2011,… Read more »
Source: AFIP and AIG: http://www.gao.gov/new.items/d11476t.pdf
GSEs: http://www.fhfa.gov/webfiles/19846/FNMandFRECapital4Q10.pdf
AFIP: Automotive Industry Financing Program (Contains bailouts for GM, Chrysler and GMAC/Ally Financial)
Read more »
Domestic Monetary Policy and Technology Subcommittee Chairman Ron Paul announced today the Subcommittee will hold a hearing entitled “Monetary Policy and the Debt Ceiling: Examining the Relationship Between the Federal Reserve and Government Debt.”
The hearing will explore the fundamental role that U.S. government debt plays in the monetary system; the use of Treasury debt… Read more »
Capital Markets and Government Sponsored Enterprises Subcommittee Chairman Scott Garrett announced today the Subcommittee will meet for a hearing to examine legislative proposals to improve the whistleblower provisions in the Dodd-Frank Act. The hearing will take place on Wednesday, May 11 at 2 pm in room 2128 Rayburn.
Subcommittee Chairman Garrett said, “As with many of the provisions… Read more »
Watch video of Rep. Shelley Moore Capito, Chairman of the Financial Institutions and Consumer Credit Subcommittee, discuss legislation to bring greater accountability and oversight to the powerful Consumer Financial Protection Bureau
http://video.cnbc.com/gallery/?video=3000020286 Read more »
Obama Anti-Foreclosure Efforts Still Falling Short
Wall Street Journal
By: Alan Zibel
May 6, 2011
The Obama administration’s efforts to tackle the foreclosure crisis have long been troubled, and data released Friday show that, despite some modest successes, they are still failing to meet expectations.
The administration’s signature initiative, known as the Home Affordable… Read more »
Welcome to the The Bottom Line, a new blog about financial regulation, financial services issues and housing policy from the House Financial Services Committee. It’s where Members of the Committee and Committee staff will help educate policy makers, market observers and constituents about the financial markets and legislative proposals before the Financial Services Committee.… Read more »
