The House Financial Services Committee has announced that proposed legislation to cap the salaries of CEOs at Fannie Mae and Freddie Mac has advanced to the markup phase, which will take place in the Committee on Tuesday, July 28.
Read More »Congress & Industry Leaders Discuss Dodd-Frank’s Progress on its Fifth Anniversary
Tuesday, July 21, 2015 marks the fifth anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. As Dodd-Frank turns five, congress members and industry leaders examine just how effective the reform act has been within the government agencies to which it was applied.
Read More »Fed Likely to Raise Rates By Year’s End Pending Economic Improvement
Federal Reserve Chair Janet Yellen had a busy week, making semi-annual appearances before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday. In both hearings, Yellen addressed the subject of the much-anticipated federal funds range increase.
Read More »Lawmakers Raise Concerns About FHA Lending Proposal
Prominent Democrats on the Senate Banking and House Financial Services Committees recently brought concerns about the a Federal Housing Administration lending proposal that could make it easier for lenders with a criminal history to continue accessing taxpayer-backed mortgage insurance.
Read More »Interest Rate Hike Still a 2015 Possibility, Pending Economic Improvements
Federal Reserve Chair Janet Yellen served as the lone witness in a House Financial Services Committee hearing on Wednesday titled "Monetary Policy and the State of the Economy.” In the semiannual report to Congress, Yellen was questioned about the highly anticipated rate increase, among other topics such the overall state of the economy, inflation, employment, and monetary policy. She maintained her position on the uncertainty of the rate increase until further economic improvement occurs.
Read More »Congress to Cover Economy, Monetary Policy, and Agencies’ Activities in Hearings
Two hearings examining the activities of government agencies and two hearings covering the nation's monetary policy and economy will take place in Congress this week. Federal Reserve Chair Janet Yellen will be the lone witness in the two hearings on monetary policy.
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 »HUD Secretary Castro Presents Department’s Programs Success at Hearing
U.S. Department of Housing and Urban Development (HUD) Secretary Julián Castro touted the success of HUD programs such as those to end veteran homelessness and the Jobs Plus Initiative when questioned about HUD's success during a full House Financial Services Committee hearing on Thursday.
Read More »HUD Secretary Castro to Testify Before House Financial Committee Thursday, June 11
U.S. Department of Housing and Urban Development (HUD) Secretary Julián Castro is scheduled to testify before the full House Financial Services Committee on Thursday, June 11, for the second time since becoming the nation's top housing official in July 2014.
Read More »New Legislation to Provide Main Street Bank Relief and Consumer Protection
Democratic Members on the Senate Banking and House Financial Services Committees announced in a press release that new legislation will provide targeted relief to small financial institutions and protection for consumers. This legislation was introduced in both the House of Representatives and the United States Senate and has the unanimous support of Democratic Members of the respective committees.
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