Patrick McHenryChairman

Washington, May 15, 2014 -

House Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the committee’s schedule for the week of May 19.

Tuesday, May 20, at 10:00 AM: A full committee hearing to examine the Financial Stability Oversight Council’s (FSOC) designation process for deeming banks and non-bank firms as “systemically important” and the impact of such designations.

Last week, Chairman Hensarling and the five Financial Services subcommittee chairmen wrote a letter to Treasury Secretary Lew, Federal Reserve Chair Yellen and Securities and Exchange Commission Chair White asking for information regarding FSOC’s and the Financial Stability Board’s processes for designating firms as systemically important. The committee leaders also called on FSOC to cease such designations until the Committee has time to investigate concerns raised by Republicans and Democrats about the designation process.

Tuesday, May 20, at 2:00 PM: The Housing and Insurance Subcommittee will hold a hearing to examine legislative proposals that protect policyholders, offer more consumer choice for insurance products, and provide regulatory relief to domestic policyholders in order to reduce costs for consumers.

Wednesday, May 21, at at 10:00 AM: The Oversight and Investigations Subcommittee will receive testimony from CFPB officials who were recently subpoenaed as part of the subcommittee’s ongoing investigation into allegations of discrimination and retaliation at the CFPB.

The allegations were first chronicled in a March 6 article in the American Banker and then at an April 2 Oversight and Investigations Subcommittee hearing where CFPB attorney and whistleblower Angela Martin testified “there is a pervasive culture of retaliation and intimidation that silences employees and chills the workforce from exposing wrongdoing.” The CFPB refused to allow Stacy Bach and Liza Strong to testify at the April 2 hearing; the National Treasury Employees Union likewise refused to allow any Union witness to testify at the hearing.

Wednesday, May 21, at 2:00 PM: The Financial Institutions and Consumer Credit Subcommittee will review legislation regarding regulatory relief and accountability reforms at the CFPB.

Thursday, May 22, at 9:45 AM: The full committee will resume its May 7 markup of legislation to enhance capital formation for small and emerging growth companies and to provide regulatory relief for community financial institutions.

The Committee’s schedule is tentative and will depend upon witness availability and other factors that may require changes. Therefore, each meeting will become final only when the hearing notice is distributed. Hearing notices and a list of witnesses for each hearing can be found online at republicans-financialservices.house.gov.

All hearings will take place in Room 2128 of the Rayburn House Office Building and will be live streamed on the committee’s website.