After Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra recently delivered testimony before members of the U.S. House Financial Services Committee, where he called upon Congress to protect the lending and borrowing status of immigrants, the CFPB referred to a previously-issued statement when American Credit News raised concerns about immigrant lending status and requested comment from the agency.
Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued a statement regarding two landmark Supreme Court decisions. These decisions overturned the deference precedent set forth in Chevron v. Natural Resources Defense Council and reined in the Securities and Exchange Commission’s in-house courts in SEC v. Jarkesy.
Today, the House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions, led by Chairman Blaine Luetkemeyer (MO-03), is holding a hearing entitled “The Role of the Export-Import (Ex-Im) Bank of the United States Amid Intensifying Economic Competition with China.”
Today, the House Financial Services Subcommittee on Capital Markets, led by Chairman Ann Wagner (MO-02), held a hearing entitled “Solutions in Search of a Problem: Chair Gensler’s Equity Market Structure Reforms.”
The executive chairman of the Electronic Payments Coalition (EPC) said that a new Consumer Financial Protection Bureau (CFPB) report showing problems with credit card rewards programs is “laughable.”
Today, the House Financial Services Subcommittee on Housing and Insurance, led by Chairman Warren Davidson (OH-08), is holding a hearing entitled “Housing Oversight: Testimony of the HUD and FHFA Inspectors General.”
Today, the House Financial Services Subcommittee on Financial Institutions and Monetary Policy, led by Chairman Andy Barr (KY-06), is holding a hearing entitled “Stress Testing: What’s Inside the Black Box?”
Washington, D.C. – Today, Ranking Member Tim Scott (R-S.C.) joined fellow Senate Banking Committee member Senator Kevin Cramer (R-N.D.), Representative Kevin Hern (R-Okla.-01), and 32 additional Members of Congress in filing a bicameral amicus brief in Texas Alliance of Energy Producers, et al v. SEC. The brief requests the United States Court of Appeals for the Eighth Circuit vacate the agency’s climate disclosure rule.
Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued a statement in response to the Department of the Treasury’s notice of proposed rulemaking (NPRM) implementing the White House’s Executive Order on outbound U.S. investment to China.
Ranking Member Tim Scott (R-S.C.) is seeking answers from the U.S. Department of the Treasury after it missed the deadline for a report on high-value Iranian assets blocked by U.S. sanctions, as well as Iran-related waivers and sanctions relaxation policies. The report, mandated by law, was due to Congress on May 24, 2024.
The director of the Consumer Financial Protection Bureau (CFPB) said today that it is illegal for financial institutions to use “immigration status” of loan applicants in the loan application process.
The House Committee on Appropriations is set to consider the Financial Services General Government (FSGG) appropriations legislation for fiscal year 2025 during a full committee markup today. The bill incorporates several priorities from Committee Republicans aimed at curbing financial regulators, restoring fiscal responsibility, and protecting Americans' financial privacy.
Today, the House Financial Services Committee, led by Chairman Patrick McHenry (NC-10), is holding a hearing with Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra. Republicans are scrutinizing Director Chopra’s CFPB for its alleged politicized agenda and lack of accountability.
During the Cold War, most Americans would have been alarmed if they discovered their everyday purchases and government-backed retirement funds were financing the Soviet Union's military, its strategic initiatives, and even providing employment opportunities. Unfortunately, many policymakers in Washington D.C. and business leaders across the country fail to apply this same logic when considering the Chinese Communist Party (CCP).
House Financial Services Committee Chairman Patrick McHenry (NC-10) issued a statement today following the White House's announcement of its intent to nominate Christy Goldsmith Romero to succeed Martin Gruenberg as Chair of the Federal Deposit Insurance Corporation (FDIC). This nomination comes amid widespread reports of toxic workplace culture and misconduct at the agency under Gruenberg's leadership.
Ranking Member Tim Scott (R-S.C.) issued a statement following President Biden's nomination of Christy Goldsmith Romero to replace Martin Gruenberg as Chair of the Federal Deposit Insurance Corporation (FDIC). Scott previously called for Gruenberg’s resignation last December.
Following a U.S. Senate Committee on Banking, Housing, and Urban Affairs hearing with Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, Ranking Member Tim Scott (R-S.C.) joined Senator Bill Hagerty (R-Tenn.) and his Banking Committee colleagues in introducing the Consumer Financial Protection Bureau (CFPB) Accountability Act. This legislation aims to require that the CFPB's funding be annually appropriated by Congress. Currently, the Federal Reserve provides whatever funding the CFPB requests within certain limits, allowing the agency to avoid fiscal...
At a U.S. Senate Committee on Banking, Housing, and Urban Affairs hearing regarding the Consumer Financial Protection Bureau’s (CFPB) semi-annual report to Congress, Ranking Member Tim Scott (R-S.C.) criticized CFPB Director Rohit Chopra for what he described as the agency's overreach in authority and politically driven rulemakings.