Committee on Financial Services

Jeb Hensarling

Democrat Smoke and Mirrors on Senate’s Abysmal TRIA Failure

2014/12/17

This morning, Washington Democrats are feverishly trying to spin Harry Reid’s decision to prevent the Senate from taking a vote on the bipartisan House-passed bill to reauthorize the Terrorism Risk Insurance Act. 

From their seats on their flights home for the holidays, Democrats are trying their hardest to blame TRIA’s demise on the inclusion of a technical clarification of the Dodd-Frank law that, as a standalone measure, passed the House almost unanimously.  That might be true if facts did not get in the way.  Rep. Maxine Waters—the highest ranking Democratic Member on the Financial Services Committee—called this Dodd-Frank language “a truly technical fix” that “would clarify the intent of Dodd-Frank.” 

The truth is that the Senate’s failure to bring the TRIA reauthorization to the floor has nothing to do with the Dodd-Frank clarification.  If that were the case, the bill would not have attracted the support of 417 members of the House, including every Democrat who voted.  And as Politico notes, “Senate Democrats were begrudgingly willing to clear the TRIA package for the president’s signature.” 

The Senate’s failure on TRIA had nothing to do with Dodd-Frank; it has nothing to do with Sen. Coburn’s objection.  It has everything to do with Harry Reid.

He simply refused to bring the bill up in the Senate.  He decided that the bill would either pass by unanimous consent or, apparently, not pass at all.

All Harry Reid needed was a cloture vote and 30 hours (the amount of time permitted for debate after a motion to proceed is agreed to).  He could have easily found 30 hours during the lame duck; timing wasn’t the problem—it was courage.  He chose to prioritize, and fill an entire weekend with, cloture and final votes on other matters instead of TRIA, including judicial and executive branch nominations that were far more controversial than the House’s almost unanimously approved TRIA bill.  Thanks to Leader Reid, on January 1st, the United States will not have a terrorism insurance program, but at least now we will have a newly confirmed Commissioner of Reclamation.

The bottom line:

The House passed a bipartisan TRIA reauthorization bill 417-7.  The Senate’s response? Quit working, leave town, and kill TRIA.

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FHFA Director Delivers Lump of Coal to Every Taxpayer

2014/12/11

Financial Services Committee Chairman Jeb Hensarling (R-TX) today issued the following statement concerning Federal Housing Finance Agency Director Mel Watt’s decision to begin payments from Fannie Mae and Freddie Mac to the Housing Trust Fund and the Capital Magnet Fund:

“In taking this action, Director Watt is making a grave mistake that harms hardworking taxpayers and violates both the letter and spirit of the law. Today’s announcement was clearly timed for the end of the congressional session in a transparent effort to evade scrutiny and frustrate congressional oversight. That will not happen because the Financial Services Committee will call Director Watt to testify as soon as the next session of Congress begins in early January. Fannie Mae and Freddie Mac were at the epicenter of the 2008 financial crisis that threw millions of Americans out of work and destroyed trillions of dollars of household wealth. The nearly $200 billion bailout of Fannie and Freddie is still the biggest, costliest taxpayer-funded bailout in history, and contrary to what some claim, they have yet to ‘repay’ taxpayers one thin dime. Diverting assets to housing trust funds instead of repaying taxpayers or stabilizing Fannie and Freddie’s finances only makes matters worse. Director Watt’s decision to activate the Fannie and Freddie slush fund may be an early Christmas present for Acorn-like, liberal housing activists, but it’s a lump of coal in the stocking of every American taxpayer.”

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House Prepares to Extend Terrorism Insurance Program With Reforms, Clarify Mistake in Dodd-Frank

2014/12/10

The House today will vote on legislation extending the Terrorism Risk Insurance Act (TRIA) for six years and include reforms designed to lessen the financial cost taxpayers would face in the event of a terrorist attack.

The bill preserves several non-TRIA related pieces of legislation contained in the Senate bill as well as what House Democrats have previously described as a "technical fix" and "clarification" to a certain provision of the Dodd-Frank Act.

Democrat Maxine Waters, the ranking member of the House Financial Services Committee, called the same Dodd-Frank language that's included in the TRIA reauthorization “a truly technical fix” that “would clarify the intent” of Dodd-Frank when the House debated it as a separate bill last year.

That bill was overwhelmingly approved by the House 411-12, with 181 Democrats joining all Republicans in voting for it.

Ranking Member Waters and fellow committee Democrat Carolyn Maloney, who earlier characterized the Dodd-Frank clarification that's now in the TRIA bill as an effort to correct “a drafting error in Dodd-Frank” and “not an attempt by opponents to weaken the safeguards,” reiterated their view before the House Rules Committee on Tuesday.

Chairman Jeb Hensarling (R-TX) hailed the legislation not only for its multi-year extension of TRIA but also for the taxpayer protection reforms it includes. 

“Democrats and Republicans overwhelmingly support a long-term reauthorization of TRIA, and I’m very pleased this is that long-term reauthorization that I and many others have sought.  In addition, this legislation advances the cause of taxpayer protection.  It includes reforms that double the amount of losses from a terrorist attack that would result in a government backstop and it actually ensures – for the first time in the program’s history – that the taxpayers are compensated for the government’s use of their hard-earned dollars.  That might be an uncommon concept on Wall Street or in Washington, but it’s a common sense concept for all who are on Main Street.”

Chairman Hensarling also noted that the technical clarification to Dodd-Frank “would clarify that Main Street businesses, farmers and ranchers – who had nothing to do with the 2008 financial crisis – will no longer be subject to an onerous misinterpretation of the language of Dodd-Frank.  Both former Chairman Barney Frank and former Chairman Chris Dodd, as well as the current Ranking Member, have said this misinterpretation is a mistake.

“This is a very technical clarification to what we call the end-user provision, which is perhaps the most expensive and unnecessary regulation that Americans have never heard of,” said Chairman Hensarling.

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House Overwhelmingly Approves Terror Insurance Reauthorization

2014/12/10

 
CLICK HERE TO WATCH

The House on Wednesday approved 417-7 a bipartisan, six-year reauthorization of the Terrorism Risk Insurance Act (TRIA) with reforms to protect taxpayers and a clarification of the  Dodd-Frank Act to protect jobs at Main Street businesses that had nothing to do with the 2008 financial crisis.
 
During floor debate on the bill, Chairman Hensarling delivered the following statement:
 
We have an incredible opportunity before us in the House today and that is to move significant bipartisan legislation that can accomplish number of purposes; that will bring greater stability and certainty to construction markets and insurance companies in dealing with the Terror Risk Insurance Act.
We can also bring greater certainty and stability to our small factories, our farmers, our ranchers, those who are still suffering in this economy. We can bring them certainty and stability by taking care of an unintended consequence of the Dodd-Frank Act -- something called the end-user exception in derivatives title, which may just be one of the most, as interpreted, one of the most damaging regulations that many in this body perhaps have not heard of.

Again, Mr. Speaker, this is legislation that has been worked on in a bipartisan manner.  Sometimes a little contentious, but we’ve ended up in a place where I believe that both Republican and Democrat, and House and Senate, should be able to come together.

I think it’s important to remember, Mr. Speaker, that particularly as we go into the holiday season, as we go into Christmas, how many working men and women are still lying awake at night wondering how are they going to be able to fund Christmas for the children. Although we’ve seen some modest improvements in the economy, there are still over 9 million of our fellow countrymen who are unemployed. The number of underemployed, those who wish to have full time work but cannot find it -- that is almost twice the number at 18 million.  We have 46 million of our fellow countrymen still on food stamps; 45 million in poverty.

One of most important things we can do here is be able to make a positive contribution for financial stability on our household economies; to give greater economic opportunity, particularly at this time.  And that is one of the aspects of S. 2244.  We’ve had a debate about the Terrorism Risk Insurance Act in this body.  I was authorized on behalf of this body to negotiate a particular part of this bill along with Senator Schumer, the gentleman from New York on the Senate side.  And over the course of several weeks and several meetings, we have negotiated language on this.  Certainly, it doesn’t get everything the House wants; it doesn’t get everything the Senate wants. Such is the nature of negotiations in a free society with divided government.

But for those who care passionately about the reauthorization, this is a long-term reauthorization bill, which most members asked for.  It is a six-year reauthorization. For those who care about taxpayer protections -- as I do -- there are improvements for taxpayer protections. The trigger level has doubled before TRIA kicks in, meaning there is greater coverage by the insurance companies and a little less by the taxpayers.  An artificial ceiling on what the industry will contribute -- that artificial ceiling now ceases to be in S. 2244. For the first time, the taxpayers will get some modest rate of return should they be called upon under TRIA to backstop.  And so these are important improvements and I think both conservative and liberal and Republican and Democrat hopefully will see something worthy here.


But I will point out it is disconcerting and it is disturbing that those who backed provisions in this bill now want to say “no” to being able to have a  long-term TRIA reauthorization passed.  This bill before us includes this end-user exemption which is so important. This isn’t for Wall Street.  This is for Main Street.  It’s for a cattle producer in Kansas named Tracy Brunner who said this mistaken language in Dodd-Frank “might very well force me out of the markets and subject to even greater risk. My operation is family run and we’re not responsible for the failures that led to the passage of Dodd-Frank.” Yet, his family-owned farm in Kansas – which is more than 1,500 miles away from Wall Street – suffers.

And so even the Ranking Member has acknowledged there have been some unintended consequences of Dodd-Frank, and recently she was one of 411 members of this House to vote in favor of the end-user exception, which she herself said was a “clarification.” Not an amendment, not a change, but a clarification.  And even Mr. Dodd and Mr. Frank of Dodd-Frank, over four years ago in a colloquy on the House floor and Senate floor, said that these provisions were never meant to harm Main Street America, never meant to apply to end-users, never meant to apply to the farmers, the ranchers, the small factory workers.  And so we have an opportunity to do something very positive, but now all of the sudden, some on the other side of the aisle say, “Well we can’t do this. We believe this is unrelated to TRIA.”

Well, why did the United States Senate put in a provision that makes a radical change in a requirement to serve on the Board of Governors of the Federal Reserve? What does that have to do with TRIA? The Senate put that in. NARAB, the National Association of Registered Agents and Brokers -- the Senate put that in. Two-thirds of bill is about NARAB.  The Senate put that in. Now, I’m not debating the underlying policy issues. But it is, at best, a little disconcerting if not disingenuous to say, “Well my Lord, the House shouldn’t put in unrelated provisions” when Senate just did it twice.

And then we hear that the Senate will not open up Dodd-Frank.  Well, what is the Collins Amendment? The Collins Amendment was sent over by the Senate.  They opened up Dodd-Frank. And then again, to quote the Ranking Member, this is a clarification.  And so we have an opportunity to pass a bipartisan bill, not only to bring some stability and certainty to our insurance markets, our builders, but our farmers and ranchers and small businesses and hurting families at this holiday season.  Without any further delay, we should enact S. 2244 as amended. 

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Bipartisan Financial Services Bills Earn Overwhelming House Approval

2014/12/02

The House today voted to approve several strongly bipartisan bills designed to help consumers manage their bank accounts, help investors make better informed decisions and lessen regulatory burdens on small companies seeking investments.

The bills, many of which had previously attracted solid bipartisan support in the House Financial Services Committee, are common sense steps to promote job creation, said Chairman Jeb Hensarling (R-TX).

“Incomprehensible Washington regulations complicate the lives of consumers, make investors less willing to invest, and deny small businesses access to investments that create jobs.  The House is once again taking bipartisan action to eliminate costly, outdated and unnecessary red tape and now the Senate needs to do the same.  The Senate has become a graveyard for good ideas that are overwhelmingly supported by Republicans and Democrats and that can help create good jobs.  It’s well past time for the Senate’s obstruction to end,” said Chairman Hensarling.

The House approved the following bipartisan bills today:

H.R. 3240, the Regulation D Study Act sponsored by Rep. Robert Pittenger (R-NC), is designed to help consumers manage their personal finances.  Regulation D is an early 1980s-era policy that limits consumers to six remote transfers between their checking and savings accounts per month.  The bill directs the Government Accountability Office to make recommendations to Congress about updating banking regulations to reflect modern technology such as online banking and ATMs.  The bill was approved 422-0.

H.R. 4569, the Disclosure Modernization and Simplification Act, sponsored by Rep. Scott Garrett (R-NJ).  This bipartisan bill will help investors navigate lengthy and confusing company disclosures by allowing public companies to submit a summary page of all material information included in annual Securities and Exchange Commission (SEC) filings.  The bill directs the SEC to also simplify financial reporting requirements for small and emerging growth companies.  Doing so would reduce unnecessary impediments for small businesses seeking investment capital and also lessen the “disclosure overload” that overwhelms investors and makes it more difficult for them to locate relevant information about public companies.  The House passed the bill by voice vote.

H.R. 4200, the Small Business Investment Companies Advisers Relief Act, sponsored by Rep. Blaine Luetkemeyer (R-MO).  H.R. 4200 amends the Investment Advisers Act of 1940 to reduce unnecessary regulatory costs and eliminate duplicative regulation of advisers to Small Business Investment Companies, which are professionally-managed investment funds that finance small businesses.  Freeing up money that currently goes toward fees and duplicative regulatory compliance will allow more funds to flow directly to job-creating small businesses.  The bill passed the House by voice vote.

H.R. 5471 sponsored by Rep. Gwen Moore (D-WI) clarifies the Dodd-Frank Act’s treatment of affiliates of non-financial firms that use a central treasury unit (CTU) as a risk-reducing, best practice to centralize and net the hedging needs of affiliates.   Without a clear legislative exemption, non-financial companies may either have to eliminate the CTU function, be subjected to increased regulatory costs, or retain more risk on their balance sheets and pass along that risk to customers in the form of higher prices.  H.R. 5471 would enable non-financial companies with affiliates to continue employing best practices to manage internal and external trading in order to mitigate risk within a commercial entity.  The bill was approved by voice vote.

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FSC Majority | Week in Review

2014/11/21

Hensarling Announces Subcommittee Chairs and Welcomes Republican Members to the Financial Services Committee

"I look forward to working alongside my colleagues to pass laws that help grow the economy from Main Street up, not Washington down,” said Chairman Hensarling. “Our committee will continue to focus on promoting sensible solutions that help create jobs and hold both Washington and Wall Street accountable to the American people."

The subcommittee chairmen for the 114th Congress:

Rep. Scott Garrett (R-NJ) will serve as Chairman of the Capital Markets and Government-Sponsored Enterprises Subcommittee.

Rep. Randy Neugebauer (R-TX) will serve as Chairman of the Financial Institutions and Consumer Credit Subcommittee.

Rep. Blaine Luetkemeyer (R-MO) will serve as Chairman of the Housing and Insurance Subcommittee.

Rep. Bill Huizenga (R-MI) will serve as Chairman of the Monetary Policy and Trade Subcommittee.

Rep. Sean Duffy (R-WI) will serve as Chairman of the Oversight and Investigations Subcommittee.

This list includes new Republican members as well as Republicans who previously served on the committee and will be returning:

Rep.-Elect Bob Dold (R-IL)
Rep.-Elect Frank Guinta (R-NH)
Rep.-Elect French Hill (R-AR)
Rep.-Elect Mia Love (R-UT)
Rep.-Elect Bruce Poliquin (R-ME)
Rep. David Schweikert (R-AZ)
Rep. Scott Tipton (R-CO)
Rep. Roger Williams (R-TX)


Subcommittee Examines the Impact of International Regulatory Standards on the Competitiveness of U.S. Insurers


On Tuesday the Housing and Insurance Subcommittee held a hearing to continue its examination of how international regulatory standards being proposed by the International Association of Insurance Supervisors (IAIS) could impact U.S. consumers and insurers.

Subcommittee Chairman Randy Neugebauer (R-TX) said, "I am concerned that IAIS's role has evolved from being an international coordinator to one of a international promulgator. The IAIS's most recent proposal to harmonize the insurance regulations called 'ComFrame' -- would create a kind of one- size-fits-all regime for global insurers, including some burdensome group-wide capital assessments and prescriptive prudential standards. Members of this committee have expressed concerns with the prescriptive nature of the ComFrame proposal. Many are equally concerned that it seems to be a mechanism for the E.U. to export its consolidated bank-like approach to regulating insurance here in the United States. While this system might work well for our allies across the Atlantic, it is inconsistent with our system of insurance regulation and I don't believe is in the best interest of our consumers and insurers."

Rep. Sean Duffy (R-WI) added, "Many of you may not know, but Wisconsin is the fourth-largest home to insurance in the United States. And those insurers, and our state regulators and policyholders, have been contacting me, concerned over some of the proposals coming out of the International Association of Insurance Supervisors. These proposals could force European-style regulation on our state-regulated system that, as we all know, has developed over the past 200 years. The fact is, unlike Europe, our insurance regulators seek to protect the policyholder: the family with a homeowner, or the life insurance policy, not the insurance company providing the policy. The Treasury and Federal Reserve are supposed to represent that philosophy on the IAIS. But I, like many others, don't necessarily think that they are. They're not listening to the insurers, policyholders, state regulators and lawmakers that are voicing their concerns and offering expertise because a conduit for these stakeholders doesn't exist."


Subcommittee Reviews Opportunities for a Private and Competitive Sustainable Flood Insurance Market

On Wednesday the Housing and Insurance Subcommittee held a hearing to review opportunities for a private and competitive sustainable flood insurance market and discussed H.R. 4558 the Flood Insurance Market Parity and Modernization Act of 2014. The bill is sponsored by subcommittee member Rep. Dennis Ross (R-FL).

"I think one of the reasons that this hearing is so important is that if we're going to move toward a private participation in the market place, we have to get the government out of the way and we need to facilitate the ability for the private sector to be a part of this," said Subcommittee Chairman Randy Neugebauer (R-TX). "Choice brings competitive pricing and if you have the government dominating an area, it doesn't really allow for a lot of private participation."

Rep. Ross agreed, saying “homeowners are trapped in a system that forces them to purchase a taxpayer-backed federal insurance product that was already $24 billion in debt at the end of 2013…Allowing more consumer choice in the government-dominated flood insurance market creates competition and results in better policies and pricing that will benefit homeowners.”


MEMBER SPOTLIGHT

Rep. Sean Duffy | Gun dealer shuts down, lawmaker vows more oversight of Operation Choke Point

Choke Point was originally aimed at preventing criminal enterprises from accessing banks and other parts of the financial system. But many have said the program has expanded dramatically, and is being used to prevent many legal businesses from using the financial intermediaries they need to operate, just because they are opposed by Obama administration officials.

Weekend Must Reads


Real Clear Markets | A New Congress Must Perform Major Surgery On Dodd-Frank

Regulators are not looking forward to heightened congressional oversight of their activities, but the new Congress offers them something to offset the pain. Unencumbered by having voted for Dodd-Frank, the incoming Congress can jettison unnecessary statutory mandates so that agencies can get back to their core missions.

Washington Times | Government bailouts in recession do more harm than good

Mr. Grant's history lesson is one that all lawmakers could take to heart. The economy recovers much more quickly, with much less cost to taxpayers, if economic downturns are allowed to run their course. When the government arrives to "help," trouble begins. This is history President Obama and Congress should have read, and heeded, before blowing $3 trillion on stimulus programs and bailouts that probably hurt more than helped.

Wall Street Journal | Now Federal Job-Killers Are Coming After Derivatives

With 10 million fewer Americans working full-time today than six years ago, it is not in the nation’s economic interest for Washington regulators to cause good-paying, full-time jobs to be eliminated. This overreach is just one of many in a regulatory environment that has become a major drag on the U.S. economy. Federal regulations now cost the U.S. more than 12% of gross domestic product, or $2 trillion annually, according to the National Association of Manufacturers. The average manufacturing firm spends almost $20,000 per employee per year on complying with federal regulations. For manufacturers with fewer than 50 employees, the per-employee cost rises to almost $35,000.  


  In the News

CNBC | Republicans looking to turn up heat on Fed in 2015

Wall Street Journal | U.S. to Probe Abuse-of-Power Claims in Financial Fraud Crackdown

Bloomberg | Private Insurers Tell House They Are Still Left Out of National Flood Insurance Program

Bloomberg | McHenry Says Insurance Capital Standards, FSOC Changes Can Get Democrats' Backing

Washington Examiner | GAO says CFPB's spending accounting flaws are serious, require prompt fixes

American Banker | GAO Report Finds Flaws in FSOC Designation Process

Bloomberg | House Lawmakers See Problems With IAIS Despite Assurances of Federal Regulators

American Banker | Streamlined Regulation Should Be the Next Frontier of Financial Reform

Washington Business Journal | Dodd: 'I didn't write the Ten Commandments with this bill' (Video)

American Banker | FHA Fund Improves, But Lower Premiums Still Unlikely

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Hensarling Welcomes Republican Members to the Financial Services Committee

2014/11/20

Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the following members have been recommended for appointment to the Financial Services Committee in the 114th Congress by the Republican Steering Committee.

“I look forward to working alongside my colleagues to pass laws that help grow the economy from Main Street up, not Washington down,” said Chairman Hensarling. “Our committee will continue to focus on promoting sensible solutions that help create jobs and hold both Washington and Wall Street accountable to the American people."

The list includes new Republican members as well as Republicans who previously served on the committee and will be returning:

Rep.-Elect Bob Dold (R-IL)
Rep.-Elect Frank Guinta (R-NH)
Rep.-Elect French Hill (R-AR)
Rep.-Elect Mia Love (R-UT)
Rep.-Elect Bruce Poliquin (R-ME)
Rep. David Schweikert (R-AZ)
Rep. Scott Tipton (R-CO)
Rep. Roger Williams (R-TX) Read More

Hensarling Announces Subcommittee Chairmen for 114th Congress

2014/11/20

Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced he has selected the subcommittee chairmen for the Financial Services Committee in the 114th Congress.

“I look forward to working alongside my colleagues to pass laws that help grow the economy from Main Street up, not Washington down,” said Chairman Hensarling. “Our committee will continue to focus on promoting sensible solutions that help create jobs and hold both Washington and Wall Street accountable to the American people."

The subcommittee chairmen for the 114th Congress:

Rep. Scott Garrett (R-NJ) will serve as Chairman of the Capital Markets and Government-Sponsored Enterprises Subcommittee.

Rep. Randy Neugebauer (R-TX) will serve as Chairman of the Financial Institutions and Consumer Credit Subcommittee.

Rep. Blaine Luetkemeyer (R-MO) will serve as Chairman of the Housing and Insurance Subcommittee.

Rep. Bill Huizenga (R-MI) will serve as Chairman of the Monetary Policy and Trade Subcommittee.

Rep. Sean Duffy (R-WI) will serve as Chairman of the Oversight and Investigations Subcommittee.

The remainder of the committee leadership team will be announced at a later date.

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Hensarling Elected to Second Term as Chairman

2014/11/19

Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement today after he was elected to a second term as Chairman of the committee for the 114th Congress.

“I am humbled by the support and trust of my colleagues as I continue my service as Chairman of the Financial Services Committee. House Republicans know the only real way to grow the economy is from Main Street up, not Washington down. Our committee will continue to focus on promoting sensible solutions to hold both Washington and Wall Street accountable to the American people."

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Hensarling: SEC Should Not Ignore Ideas at Small Business Capital Formation Forum

2014/11/19

House Financial Services Committee Chairman Jeb Hensarling (R-TX) made the following comment about the Securities and Exchange Commission’s annual Government-Business Forum on Small Business Capital Formation being held in Washington:

“Year in and year out the SEC has failed to act on many, if not most, of the recommendations provided by the Forum.  In fact, a number of reforms contained in the bipartisan JOBS Act and other bipartisan bills passed by the Financial Services Committee are based on Forum recommendations that the SEC ignored.  It’s not enough for the SEC to simply talk about promoting small business; it needs to take action – like Congress and our committee has done – on innovative ideas that will help small businesses and create jobs.”

 

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Hearing entitled “Opportunities for a Private and Competitive Sustainable Flood Insurance Market”

2014/11/13


Hearing entitled “The Impact of International Regulatory Standards on the Competitiveness of U.S. Insurers, Part II”

2014/11/11


Hearing entitled “Terrorist Financing and the Islamic State”

2014/11/06


Hearing entitled “Oversight of the Financial Stability Oversight Council”

2014/09/10


Hearing entitled “An Overview of the Credit Reporting System”

2014/09/03


Continuation of Markup of H.R. 5018, H.R. 4329, H.R. 3240, H.R. 3913, H.R. 4042, and H.R. 5148

2014/07/29


Hearing entitled “Allegations of Discrimination and Retaliation and the CFPB Management Culture”

2014/07/25


Markup of H.R. 5018, the Federal Reserve Accountability and Transparency Act of 2014; H.R. 4329, the Native American Housing Assistance and Self-Determination Reauthorization Act of 2014; H.R. 3240, the Regulation D Study Act; H.R. 3913, to amend the Bank Holding Company Act of 1956 to require agencies to make considerations relating to the promotion of efficiency, competition, and capital formation before issuing or modifying certain regulations; H.R. 4042, the Community Bank Mortgage Service Asset Capital Requirements Study Act of 2014; and H.R. 5148, the Access to Affordable Mortgages Act of 2014

2014/07/25


Hearing entitled “Oversight of the SEC’s Division of Corporation Finance”

2014/07/17


Hearing entitled “Assessing the Impact of the Dodd-Frank Act Four Years Later”

2014/07/16


There is no media available for this committee.

Contact Information

2129 Rayburn HOB
Washington, DC 20515
Phone 202-225-7502
Fax 202-226-0471
financialservices.house.gov


Membership

Michele Bachmann

MINNESOTA's 6th DISTRICT

Spencer Bachus

ALABAMA's 6th DISTRICT

Andy Barr

KENTUCKY's 6th DISTRICT

John Campbell

CALIFORNIA's 45th DISTRICT

Shelley Capito

WEST VIRGINIA's 2nd DISTRICT

Tom Cotton

ARKANSAS' 4th DISTRICT

Sean Duffy

WISCONSIN's 7th DISTRICT

Stephen Fincher

TENNESSEE's 8th DISTRICT

Mike Fitzpatrick

PENNSYLVANIA's 8th DISTRICT

Scott Garrett

NEW JERSEY's 5th DISTRICT

Michael Grimm

NEW YORK's 11th DISTRICT

Jeb Hensarling

TEXAS' 5th DISTRICT

Bill Huizenga

MICHIGAN's 2nd DISTRICT

Randy Hultgren

ILLINOIS' 14th DISTRICT

Robert Hurt

VIRGINIA's 5th DISTRICT

Peter King

NEW YORK's 2nd DISTRICT

Frank Lucas

OKLAHOMA's 3rd DISTRICT

Blaine Luetkemeyer

MISSOURI's 3rd DISTRICT

Kevin McCarthy

CALIFORNIA's 23rd DISTRICT

Patrick McHenry

NORTH CAROLINA's 10th DISTRICT

Gary Miller

CALIFORNIA's 31st DISTRICT

Mick Mulvaney

SOUTH CAROLINA's 5th DISTRICT

Randy Neugebauer

TEXAS' 19th DISTRICT

Steve Pearce

NEW MEXICO's 2nd DISTRICT

Robert Pittenger

NORTH CAROLINA's 9th DISTRICT

Bill Posey

FLORIDA's 8th DISTRICT

Dennis Ross

FLORIDA's 15th DISTRICT

Keith Rothfus

PENNSYLVANIA's 12th DISTRICT

Ed Royce

CALIFORNIA's 39th DISTRICT

Steve Stivers

OHIO's 15th DISTRICT

Marlin Stutzman

INDIANA's 3rd DISTRICT

Ann Wagner

MISSOURI's 2nd DISTRICT

Lynn Westmoreland

GEORGIA's 3rd DISTRICT