Tag Archives: Financial Services Committee

Here’s a snapshot of the impact of the tax cuts on the housing market six months after the bill became law.

In April, CFPB Acting Director Mick Mulvaney had recommended steps to improve the “transparency and accountability” at CFPB. Here’s what the Financial Services Committee discussed at a hearing on Wednesday on these reforms.

The House passed two bipartisan bills that are aimed at increasing accountability for both, banks and nonbanks.

During his testimony before the Financial Services Committee, Mick Mulvaney, CFPB’s Acting Director spoke on the bureau’s strategic priorities and a “New Approach” towards bringing more responsibility and accountability to the consumer watchdog.

In the wake of President Trump’s executive order targeting Dodd-Frank and Consumer Protection, the Financial Services Committee (FSC) will hold a hearing to discuss the Financial CHOICE act. Committee Chairman Jeb Hensarling first unveiled the rules and principles guiding Financial CHOICE last June, and the act was approved by the FSC in September. At the center of the act is a plan eliminate bailouts and hold Wall Street accountable. Additionally, the act calls for banks to be better capitalized, and to reduce the strain of regulation on smaller banks.

Congressman Jeb Hensarling (R-Texas), Chairman of the Financial Services Committee, issued a statement on September 23 regarding the Government Accountability Office (GAO) report to the effect that he believes the Consumer Financial Protection Bureau (CFPB)'s data collection methods are intrusive and therefore not in consumers' best interests.

The U.S. House of Representatives passed bipartisan legislation on September 19 that allows small businesses to spend capital toward creating jobs instead of compliance.