Tag Archives: House Financial Services Committee

Congress has taken note of the rise of companies that utilize technology to make financial services more efficient, or fintechs as they have commonly become known, and their increasing role in the financial services market.

The process by which the Financial Stability Oversight Council, an agency created by Dodd-Frank, designates non-bank firms as "systemically important financial institutions" will be examined in a Congressional hearing on Thursday, July 14.

The House Financial Services Committee unanimously passed a bill this week that lifts certain restrictions placed on insurance companies by the federal government and gives states more flexibility to license and regulate private flood insurance.

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.

At the first legislative markup in 2016, the Financial Services Committee unveiled 10 bills to help grow the economy through regulatory relief and capital formation the nation’s Main Street businesses.

The House Financial Services Committee on Wednesday announced the passage of several bills aimed at directed at improving transparency and accountability of the Financial Stability Oversight Council, an agency created out of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

The House of Representatives will vote next week on a bill that will provide a hold harmless grace period for the Consumer Financial Protection Bureau's TILA-RESPA Integrated Disclosure Rule, which is set to go into effect October 3.

In response to the surprise announcement of the resignation of Speaker of the House John Boehner (R-Ohio) on Friday morning, U.S. Rep. Jeb Hensarling (R-Texas) is "considering his options" as far as seeking the speaker position.

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.

The second in a series of three full Committee hearings examining the impact of the Dodd-Frank Act on American prosperity, freedom, and financial stability five years after the controversial law was enacted took place in the House Financial Services Committee on Tuesday.