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Week In Review

Fed Chair to Committee: Financial Conditions “Less Supportive of Growth” Federal Reserve Chair Janet Yellen on Wednesday told the Financial Services Committee that the nation’s central bank is studying the feasibility of pushing short-term interest rates into negative territory. “Financial conditions in the United States have recently become less supportive of growth,” she told the Committee. “Investors responded to her testimony by continuing their 2016 flight from equities, dumping oil and bu...

FHA “Still in a Precarious State”

WASHINGTON -- The Housing and Insurance Subcommittee continued its examination of the “Future of Housing in America” today, holding its sixth hearing of the 114th Congress on the topic. Today’s hearing focused on the fiscal health of the Federal Housing Administration (FHA), particularly its Mutual Mortgage Insurance Fund (MMIF) and Home Equity Conversion Mortgage (HECM) – the reverse mortgage insured by the federal government. “FHA has suffered a case of mission creep, and the unfortunate trut...

Another Example of CFPB Harming, Not Protecting, Consumers

WASHINGTON – Today, the Financial Institutions and Consumer Credit Subcommittee held a hearing to examine the Consumer Financial Protection Bureau’s latest attempt to restrict consumer access to financial products and services. The Bureau is expected to soon propose a rule that will harm consumers by taking away their right to access small dollar, short-term loans. For the underbanked in America, options are few when financial emergencies arise, and short-term, small dollar credit products are ...

Hensarling Opening Statement at Monetary Policy Hearing

WASHINGTON- Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing to receive the Monetary Policy and State of the Economy report from Federal Reserve Chair Janet Yellen: Last month we all heard President Obama attempt to take an economic victory lap in his State of the Union speech. The American people are having none of it, though. They are tired of hearing from the out of touch ruling-class in Washington about j...