Financial Services Committee

News & Analysis as of

The Financial Report - Volume 4, No. 9 • May 2015 (Global)

Discussion and Analysis - Securities and investment advisory services offered through . . . That phrase is ubiquitous among small and “independent” financial services firms, regularly appearing in 6-point or...more

House Subcommittee to Consider JOBS Act Related Bills

Today, the Subcommittee on Capital Markets and Government Sponsored Enterprises of the House Financial Services Committee has scheduled a hearing entitled “Legislative Proposals to Enhance Capital Formation and Reduce...more

Congress hears testimony on Public-Private Partnerships in affordable housing

Would private developers build affordable housing if there were no government subsidies? Rep. Mike Capuano (D-MA) and his colleagues explored that question and other topics during a House Financial Service Subcommittee...more

Rogue Agency or Champion of Consumers? House Votes for CFPB Transparency

A common complaint against the CFPB is that the agency wields too much power without enough accountability. House Financial Services Committee Chairman Jeb Hensarling recently described the CFPB as “single most powerful and...more

House Republicans ask CFPB and banking agencies to disclaim “Operation Choke Point”

Six Republican members of the House Financial Services Committee, including Chairman Jeb Hensarling, have sent identical letters to the CFPB, OCC, Fed and NCUA asking each agency to “publicly disclaim [its] past, present, and...more

Director Cordray Appears Before House Financial Services Committee

CFPB Director Richard Cordray recently appeared before the House Financial Services Committee to answer questions regarding the Bureau’s Semi-Annual Report to Congress and the President, which it published on December 4,...more

On the Hill this Week….

On March 24th, the U.S. Senate Committee on Banking, Housing and Urban Affairs Subcommittee on Securities, Insurance and Investment will hold a hearing on “Capital Formation and Reducing Small Business Burdens.” Information...more

Blog: Senate Bill Introduced To Raise Rule 701 Disclosure Threshold

Senators Pat Toomey (R., PA) and Mark Warner (D., VA) have introduced Senate Bill 576, the ‘‘Encouraging Employee Ownership Act.’’ The bill would require the SEC, within 60 days after enactment, to raise the threshold in...more

More CFPB reform bills introduced in House

In addition to the bill introduced last week by Republican Congressman Randy Neugebauer that would replace the CFPB’s director with a five-member commission, four other CFPB reform bills have been introduced by Republican...more

Hensarling establishes new policy for issuing subpoenas and gives CFPB deadline for responding to document requests

Republican Congressman Jeb Hensarling, who chairs the House Financial Services Committee, has established a new policy for using his authority to issue subpoenas to the CFPB and other agency’s subject to the Committee’s...more

Director Cordray to testify on March 3 before House Financial Services Committee

The House Financial Services Committee will hold a hearing tomorrow, March 3, entitled “The Semi-Annual Report of the Bureau of Consumer Financial Protection” at which Director Cordray is expected to testify. The most recent...more

FHFA Director Testifies on the Hill

On January 27, FHFA Director Mel Watt testified at a House Financial Services Committee hearing. In prepared remarks, Watt mentioned the strengthened balance sheet of...more

FHFA Director testifies in front of the U.S. House of Representative Committee on Financial Services

On January 27, 2015 the  FHFA Director, Melvin L. Watt, testified in front of the U.S. House of Representatives Committee on Financial Services. Director Watt’s testimony provided...more

House Financial Services Committee Approves Agenda for 114th Congress

On January 21, the Committee on Financial Services, in a voice vote, agreed to a new oversight plan that identifies the areas that the Committee and its subcommittees plan to oversee during the 114th Congress. Notable...more

House Financial Services Committee approves oversight plan; Committee chair gets new subpoena authority

The House Financial Services Committee voted unanimously today to approve the Committee’s oversight plan for the 114th Congress. The plan provides that the Committee intends to continue its close examination of the...more

House to hold Sept. 10 hearing on credit reporting

On Wednesday, September 10, the House Financial Services Committee will hold a hearing entitled “An Overview of the Credit Reporting System.” The scheduled witnesses are...more

Republican Committee Leaders Question CFPB On Recess Appointment Activities

On July 29, House Financial Services Committee Chairman Jeb Hensarling (R-TX) and Senate Banking Committee Ranking Member Mike Crapo (R-ID) sent a letter to CFPB Director Richard Cordray questioning the CFPB’s authority to...more

Cordray's House Testimony Signals Areas of CFPB Focus

On June 18, 2014, CFPB Director Richard Cordray appeared before the House Financial Services Committee to testify about his agency's fifth Semi-Annual Report. As in past hearings, Cordray and House Republicans clashed over...more

CFPB Director Announces Indirect Auto Finance Proxy Methodology White Paper, Discusses Numerous Other Initiatives

On June 18, in an appearance before the House Financial Services Committee, CFPB Director Richard Cordray stated that later this summer the CFPB hopes to release a white paper on the proxy methodology it employs to identify...more

CFPB to issue whitepaper on methodology for identifying auto finance discrimination and consider use of advisory opinions

While Director Cordray’s appearance at the House Financial Services Committee’s hearing on the CFPB’s fifth Semi-Annual Report yesterday was accompanied by the usual dose of political theater, his testimony did yield the...more

House to hold third hearing on CFPB discrimination

The House Financial Services Committee’s Oversight and Investigations Subcommittee will be holding a hearing tomorrow entitled “Allegations of Discrimination and Retaliation within the Consumer Financial Protection Bureau,...more

House Committee holds markup of CFPB bills

On Tuesday, June 10, the House Financial Services Committee held a markup to discuss several bills designed to promote greater transparency and accountability at the CFPB. In his opening statement, Chairman Hensarling...more

House to hold full Committee markup

The House Financial Services Committee will hold a markup this Tuesday, June 10. The full Committee will meet to discuss several bills, including some relating to the CFPB that were discussed at the Committee’s last hearing...more

FIO Focus, Issue No. 54

Devoted to exploring the progress of the modernization of the insurance industry, FIO Focus provides information and insights about the organizations and issues that are driving change and influencing the future of the...more

15 Capital Formation Related Bills Scheduled for Mark Up

Yesterday, May 7th, a number of bills were scheduled for mark up by the House Financial Services Committee, which address certain issues arising from the JOBS Act, as well as a number of issues arising in the aftermath of the...more

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