Congress will soon vote on a plan to significantly overhaul the 2010 financial control law commonly known as the Dodd-Frank Act.
This is great news for jobs and growth in Kentucky. In the nearly seven years since enactment of the 2,300-page Dodd-Frank law, roughly one in five Kentucky credit unions and community banks has closed its doors.
Nationwide, more than 43 percent of… Read more »
5/22/2017
There wasn't a single Republican in the room on April 28, but Wall Street was well represented.
House Democrats had gathered inside the Financial Services Committee for a special minority hearing to discuss the dangers of rolling back the Dodd-Frank Act's sweeping regulations. Instead of bankers or traders or regulators, Democrats called none other than Sen. Elizabeth Warren… Read more »
House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement regarding today’s decision by the Department of Labor on the controversial fiduciary rule:
“I was there in the Oval Office when President Trump signed his Presidential Memorandum on the Obama administration’s fiduciary rule. I don’t see how the Department of Labor’s decision is… Read more »
House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement on President Trump's Fiscal Year 2018 budget proposal:
“The higher taxes, spending and borrowing that were the pillars of Obamanomics brought us the weakest economic recovery in our lifetimes, stagnant paychecks and more new debt than nearly all other presidents combined. Left unchecked,… Read more »
The non-partisan, independent Congressional Budget Office (CBO) exposed the Democrats’ top talking point against the Financial CHOICE Act for the lie it is.
“Democrats have sought to portray the legislation as a giveaway to big banks,” the Washington Examiner notes, yet the CBO reports that “the biggest U.S. banks likely would not get relief from the new banking rules in the legislation.”… Read more »
By Joseph Lawler
Megabanks would not be interested in the deal that House Republicans are offering them, Congress' in-house budget experts concluded in a report issued Thursday evening.
House Republicans have advanced a bill, the Financial Choice Act, that would offer banks the option to get out of many of the new rules implemented in the wake of the 2008 financial crisis on the… Read more »
WASHINGTON – The non-partisan, independent Congressional Budget Office (CBO) reports that the Financial CHOICE Act (H.R. 10) will slash the federal budget deficit by $24.1 billion over the next 10 years.
In addition, the CBO estimates that community banks and credit unions will be the overwhelming beneficiaries of the Financial CHOICE Act as few, if any, of the nation’s… Read more »
The Monetary Policy and Trade Subcommittee held a hearing on Thursday to evaluate lessons from the International Monetary Fund's (IMF) bailout of Greece in 2010 and 2012.
“With Greece’s economy again officially in recession and discussions underway for a third IMF bailout, it is clear from today’s hearing that the IMF’s past efforts to save Greece from insolvency have been unsuccessful… Read more »
House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement about CFPB Director Richard Cordray’s decision to attend House Democrats’ weekly caucus meeting today:
“Everyone knows Mr. Cordray will likely leave the CFPB soon and pursue political office in Ohio again, but his attendance at what amounts to nothing more than a Democrat pep rally shows just… Read more »
*Note: This was written in response to a column that appeared recently in the New York Times. The Chairman's response was submitted to the newspaper, which refuses to publish it.
By Jeb Hensarling
Far from ending bailouts, the Dodd-Frank Act institutionalized them and made them a permanent fixture of the regulatory toolkit. Dodd-Frank’s “Orderly Liquidation Authority” enables… Read more »
