Consumer Financial Protection Bureau (CFPB) Director Richard Cordray may have violated federal law that governs agency rulemaking procedures, according to an investigative report released today by Republican members of the House Financial Services Committee. The report, based on internal CFPB documents obtained by the committee, uncovers several potential legal problems with the Bureau’s 2015 rule authorizing it to regulate the auto lending market. One is Cordray’s failure to heed CFPB attorneys...
WASHINGTON -- House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement today regarding news that the National Flood Insurance Program (NFIP) will borrow another $1.6 billion from hardworking American taxpayers: “The National Flood Insurance Program is poorly designed, costly and in desperate need of fundamental reform. A market monopoly and an annual deficit from more than four decades of liberal subsidies have resulted in $23 billion in debt to taxpayers ...
p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 16.0px 'Times New Roman'; -webkit-text-stroke: #000000} span.s1 {font-kerning: none} House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement today in response to Securities and Exchange Commission Chair Mary Jo White’s criticism of accountability legislation: “It’s disappointing that Chair White chose to attack Congress in her final public remarks as SEC Chair simply for trying to make the SEC more accountable...
House Floor Action Focused on Committee Bills The 115th Congress is picking up right where the 114th left off: passing bipartisan Financial Services Committee bills to help grow America’s Main Street economy and make Washington accountable. During the 114th Congress, 69 percent of the bills reported by the committee passed the House and 36 bills were signed into law. The House this week passed two committee-led bills -- the Helping Angels Lead our Startups (HALOS) Act by a vote of 344-73 and the...
