The Financial Services Committee today released its planned schedule for the week of October 24.
Witnesses for each hearing will be announced at later dates. All hearings will take place in room 2128 Rayburn.
Tuesday, October 25:
The International Monetary Policy and Trade Subcommittee will hold a hearing on the Eurozone crisis and implications for the United States at 10… Read more »
Obama Administration officials are frantically trying to convince the public that the 400 new regulations tucked inside the 2,300-page Dodd-Frank Act are having absolutely no impact on small town and mid-sized banks. None. Whatsoever. So just move on, OK? Nothing to see here.
But, what are community bankers saying? A much different story in congressional testimony and… Read more »
Republicans on the Financial Services Committee are urging the deficit reduction “supercommittee” to consider not only ways to cut spending but also ideas that will jumpstart the economy.
In a letter signed by GOP members on the Financial Services Committee, the Republicans lay out detailed recommendations to reduce expenditures in programs under the Committee’s jurisdiction. They… Read more »
Treasury Secretary Timothy Geithner offered a revealing insight into the Obama Administration’s attitude about regulations on Thursday when he testified before the Financial Services Committee.
After Oversight and Investigations Subcommittee Chairman Randy Neugebauer told the Secretary he is worried about the cumulative impact that the Dodd-Frank Act’s 400 regulations will have on… Read more »
A proposal to modernize and reform the Section 8 housing voucher program will be discussed at a subcommittee hearing on Thursday.
On June 16, the Insurance, Housing and Community Opportunity Subcommittee released a discussion draft of legislation to streamline the operations and improve the effectiveness of the Section 8 program. During the hearing on Thursday, Subcommittee members… Read more »
H.R. 2167, introduced by Rep. David Schweikert, removes an impediment to capital formation for small companies by raising the shareholder threshold for mandatory registration with the SEC from 500 to 1,000 shareholders. The shareholder threshold was originally adopted in 1964 and has not been modernized since then. At a recent hearing, the Committee received testimony from… Read more »
H.R. 2940, introduced by Rep. Kevin McCarthy, removes the regulatory ban that prevents small, privately held companies from using advertisements to solicit investors for private offerings. Securities laws not only prohibit general solicitation and advertising but require investors to have an existing relationship with the company in order to meet SEC exemption requirements. This ban has… Read more »
H.R. 2930, introduced by Rep. Patrick McHenry, permits “crowdfunding” to finance new businesses by allowing companies to accept and pool donations up to $5 million without registering with the SEC. Crowdfunding is an innovative and lower-risk form of financing that enables several individuals to pool money to in a particular company. SEC regulations prohibiting general solicitation… Read more »
The legislation, introduced by Rep. Stephen Fincher, expands the exemptions available to small companies from certain costly reporting requirements of the Sarbanes-Oxley Act. Since 2007 the SEC has exempted small companies with a market capitalization of less than $75 million. Market participants have repeatedly said the current SEC exemption provides no benefit since the threshold… Read more »
Five bills that ease the regulatory burden on small businesses and emerging growth companies were approved by a Financial Services subcommittee yesterday.
The proposals make it easier for entrepreneurs and small businesses to access capital so their companies can grow and create jobs.
“These proposals help create an environment that is pro-job, pro-market, and pro-growth,” said… Read more »
