Rep. Jeb Hensarling, Chairman of the House Financial Services Committee, delivered a public address on Tuesday on the committee’s plan to offer what he terms a “bold and better” alternative to the Dodd-Frank Act, according to an announcement from the committee.
Read More »House Committee Determines Dodd-Frank Limits Americans’ Financial Freedom
Hensarling went on to say that Dodd-Frank exemplifies the "insidious belief" among those in Washington that the American people cannot be trusted to make financial decisions, so Washington must do it for them.
Read More »Witnesses at House Committee Hearing Testify of Dodd-Frank’s Adverse Effects
Witnesses at a recent House Financial Services Committee hearing testified the Dodd-Frank Act has "reduced financial stability" and made Americans worse off financially in the controversial law's first five years of existence. The hearing, titled "Dodd-Frank Five Years Later: Are We More Stable?" was the first in a series of three full Committee hearings to examine the impact Dodd-Frank has had on American consumers and the country's financial system and economy since President Obama signed it in to law in July 2010.
Read More »Five Star Partners With Industry to Launch Mortgage Diversity Council
The AMDC's goal is to drive results that support the application and promotion of the mortgage industry's best diversity practices, and advancing solutions that support initiatives outlined by Section 342 of the Dodd-Frank Act–which focuses on minority and inclusion rules that call for greater supply chain diversity and greater diversity in hiring and promoting in the workforce.
Read More »House Votes to Amend Part of Dodd-Frank to Make Manufactured Home Mortgages Affordable
The first measure, which passed 263-162, would alter the meaning of “high cost" mortgages for manufactured housing by exempting mortgages from the classification if the transaction is less than $75,000, the annual percentage rate is 10 percent or lower, and if the mortgage points and fees don’t exceed $3,000.
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