Financial Services Committee

News & Analysis as of

Trump Presidency May Lead To Important Changes To U.S. Swap Regulations

Introduction - The U.S.' political makeup is poised to change as a result of the elections held on November 8, 2016, in which Republican presidential nominee Donald J. Trump defeated Democratic nominee Hillary Clinton,...more

Blog: Undo Dodd-Frank?

With Congress and the Presidency soon in Republican control, look for the Financial CHOICE Act (or perhaps an enhanced version) to be re-introduced in the next Congress. The bill, sponsored by Jeb Hensarling, Chair of the...more

Hensarling seeks assurance of CFPB compliance with limits on executive agencies

Republican Congressman Jeb Hensarling, who chairs the House Financial Services Committee, has sent a letter to Director Cordray asking him to provide written assurance by October 26, 2016 that, as a result of the D.C....more

US Federal Reserve Bank Presidents Testify before US House of Representatives

US Federal Reserve Bank Presidents Esther George (Kansas City) and Dr. Jeffrey Lacker (Richmond) testified before the US House of Representatives Financial Services Subcommittee on Monetary Policy and Trade, in a hearing...more

House Financial Services Committee Votes To Repeal And Replace Dodd-Frank

On September 13th, the House Financial Services Committee approved the Financial CHOICE Act of 2016 to repeal and replace key parts of the 2010 Dodd-Frank law by a largely partisan vote of 30 to 26. Democrats declined to...more

Congressman introduces fintech bill

Republican Congressman Patrick McHenry, Vice Chair of the House Financial Services Committee, has introduced the “Financial Services Innovation Act of 2016,” which is intended to provide a streamlined regulatory process for...more

House Committee approves Dodd-Frank replacement bill

By a vote of 30-26 earlier this week, the House Financial Services Committee approved the “The Financial CHOICE Act of 2016” (H.R. 5983), the bill released in July 2016 by Committee Chairman Jeb Hensarling to replace the...more

H.R. 5983—Act as Introduced—Title I

U.S. Congressman Jeb Hensarling, Chairman of the House Financial Services Committee, has set the stage for the consideration of regulatory reform and burden reduction with the introduction of H.R. 5983, the “Financial Choice...more

House Debate Scheduled for Bills Relating to Capital Access for Small Business

Next week, the House is scheduled to debate two bills designed to reduce regulatory burden on small businesses in order to facilitate access to capital. H.R. 5424, the Investment Advisers Modernization Act, was approved by...more

Congress Introduces Bill to Make “Valid When Made” the Law of the Land

Chief Deputy Whip Patrick McHenry (R, NC-10), the Vice Chairman of the House Financial Services Committee, introduced H.R. 5724, the Protecting Consumers’ Access to Credit Act of 2016, which would reaffirm the longstanding...more

The Financial CHOICE Act; Legislative Text Revealed

On June 23, 2016, House Financial Services Committee Chairman Jeb Hensarling (R-TX) released as a “discussion draft” legislative text of the Financial CHOICE Act (“FCA”), a proposal to reform the Dodd-Frank Wall Street Reform...more

Details Emerge about the Financial CHOICE Act

On June 15, 2016, House Financial Services Committee Chairman Jeb Hensarling (R-TX) released a more detailed summary of the Financial CHOICE Act (“FCA”), a proposal to revisit the Dodd-Frank Wall Street Reform and Consumer...more

Financial Services Committee Approves Bills Relating to Capital Formation

The House Financial Services Committee held a markup session on June 15, 2016 to discuss a number of bills, including many relating to capital formation and the lessening of regulatory burdens for smaller reporting companies....more

Blog: The Financial CHOICE Act Would Dismantle A Whole Lot More In Dodd-Frank Than Just Financial Regulation

by Cydney Posner There has been a fair amount of press regarding the Financial CHOICE Act, a new bill sponsored by Jeb Hensarling, Chair of the House Financial Services Committee. The actual bill has not yet been released,...more

House Financial Services Committee investigating CFPB arbitration rulemaking

On April 20, 2016, Congressman Sean Duffy sent a letter to Director Cordray indicating that the House Financial Services Committee is investigating “the examination and possible regulation by the [CFPB] of pre-dispute...more

House Financial Services Hearing on Capital Formation Bills

On Thursday, April 14th, the House Financial Services Subcommittee on Capital Markets and GSEs held a hearing at 10 am titled, The JOBS Act at Four: Examining its Impact and Proposals to Further Enhance Capital Formation. The...more

Dodd-Frank Act Criticized at American Bankers' Association Conference

At an American Bankers’ Association Conference in Washington, DC, US Senate Banking Committee Chairman Richard Shelby and US House of Representatives Financial Services Committee Chairman Jeb Hensarling both raised concerns...more

Preemption Issues Heat Up in the Payday Lending Space

Last week, Director Cordray testified at a hearing before the House Financial Services Committee during the CFPB’s Semi-Annual Report to Congress. As part of those proceedings, the issue of federal preemption arose in the...more

Dodd-Frank Credit Risk Retention Rules: House Financial Services Committee Passes Bill to Reduce Compliance Burden for Collateral...

On March 2, 2016, the House Financial Services Committee approved a bill, H.R. 4166, sponsored by Representatives Andy Barr (KY) and Dave Scott (GA), that would significantly reduce the credit risk retention obligations...more

Flash: Congress Fixes the CMBS Risk Retention Problem (Just Kidding)

Last week, the House Committee on Financial Services reported out the Preserving Access to CRE Capital Act of 2016 (the “bill”) in a remarkably bipartisan sort of way (paving the way for: “Well, yes, I did vote for it, but...more

US House of Representatives Financial Services Committee Holds Hearing on Volcker-Related Legislation

The US House of Representatives’ Financial Services Committee’s Capital Markets Subcommittee held a hearing on legislation that would clarify the name-sharing provision of the Volcker Rule. Specifically, the Financial...more

Financial Services Committee Approves Bills Relating to Capital Access

At today’s House Financial Services Committee meeting, ten bills relating to facilitating access to capital and the reduction of regulatory burden on smaller reporting companies were approved.  Among the bills that passed the...more

House Financial Services Committee Mark-Up

On March 2, 2016, the Financial Services Committee will meet to mark up various proposed bills, including the following that relate to capital formation...more

House Republicans Level Another Blow at CFPB’s Auto-Lending Policies

Scrutiny of the CFPB’s auto-lending supervision and enforcement practices was renewed last week when Republicans on the U.S. House of Representatives Committee on Financial Services issued another scathing report criticizing...more

House Panel Approves Data Breach Bill

On Wednesday, Dec. 9, the House Financial Services Committee approved a bill that would require companies to notify consumers and the government when a data breach compromises certain unencrypted consumer information. The...more

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