Tagged: jeb hensarling

House of Representatives Passes FinCEN Bill that Targets Virtual Currencies

US Capitol Hill Washington DC

The House of Representatives has approved the “FinCEN Improvement Act of 2018,” sponsored by Rep. Ed Perlmutter (HR 6411). The bill was passed on a voice vote indicating strong bi-partisan support in the House. The legislation requires the Department of the Treasury’s Financial Crimes Enforcement Network (or… Read More

House of Representatives Passes JOBS Act 3.0 with Broad Bipartisan Support: 406 Vote Yes, 4 Vote No

As was expected – the “JOBS and Investor Confidence Act of 2018,” also being branded as the JOBS Act 3.0, passed the House this week in a nearly unanimous act of legislation that rarely happens on Capitol Hill. The bill is actually a compendium of… Read More

The JOBS and Investor Confidence Act Includes Crowdfunding Amendments

The JOBS and Investor Confidence Act (HR 6380), also called JOBS Act 3.0, is a grouping of 32 business friendly bills put together in a bipartisan effort to actually get something done. House Financial Services Committee Chair Jeb Hensarling stated; “Without a steady stream of small… Read More

JOBS Act 3.0: Representatives Hensarling and Waters Join on Bipartisan Bills to Boost Small Business & Help Entrepreneurs

In a profound act of bipartisanship, Representative Jeb Hensarling, Chairman of the powerful House Financial Services Committee, and Representative Maxine Waters, ranking member on the Committee, have joined together on a series of bills that are designed to “help America’s small businesses and entrepreneurs and to… Read More

Richard Cordray to Step Down as CFPB Director By the End of November

Richard Cordray, director of the Consumer Financial Protection Bureau (CFPB), announced he would be stepping down from his position by the end of November. Prior to joining the Bureau, Cordray served as Ohio’s Attorney General and is notably the first director of the CFPB.  Cordray… Read More

Reg A+ May Soon Allow Companies to Raise Up to $75 Million

The House Financial Services Committee has been rather busy of late. The powerful Committee led by Chair Jeb Hensarling has been pushing through legislation at a brisk pace. Next Tuesday (November 14th), the Committee has over 20 bills to consider. One of the bills, HR… Read More

Micro-Offering Exemption Passes House of Representatives, Next Up the Senate

The House of Representatives passed the Micro Offering Safe Harbor Act (HR 2201) today largely on a party line vote of 232 to 188. The bill, sponsored by Representative Tom Emmer from Minnesota,  seeks to allow small businesses to raise up toe $500,000 per year… Read More

House Financial Committee to Consider Over 20 Bills Next Week

The House Financial Services Committee has scheduled a hearing for next Wednesday, October 11 with an entire battalion of bills to consider. The more than twenty bills include several interesting acts of legislation.  Included on the list is a fix to the onerous definition of… Read More

SEC Chairman Jay Clayton Tells House Committee that Fewer Public Companies is a Troubling Trend, Shares Insights on ICOs

Securities and Exchange Commission Chairman Jay Clayton spent much of today visiting with the House Financial Services Committee. This was his first hearing before the Committee since he took the helm of the regulatory agency. Much of Clayton’s prepared remarks echoed his visit to the… Read More

House Republicans Introduce Bill to Challenge Controversial CFPB Rule on Arbitration

Republicans members on the House Financial Services Committee have introduced legislation (H.J. Res 111) designed to nullify a controversial rule published by the Consumer Financial Protection Bureau (CFPB). The resolution is cosponsored by all 34 Republican Members of the Financial Services Committee and mirrors a resolution… Read More

CFPB Ruling on Arbitration May “Transfer Wealth from Consumers to Wealthy Attorneys”

The Consumer Financial Protection Bureau (CFPB) announced a new rule to ban financial companies from using mandatory arbitration clauses. The CFPB said these rules have denied people their day in court. Many consumer financial products like credit cards and bank accounts have arbitration clauses in… Read More

House Approves Financial CHOICE Act, the Dodd-Frank Replacement

Dodd-Frank has proven to be a horrible act of legislation. A reactionary swipe directed towards the financial services industry following the calamity known as the Great Recession, many portions of the law have not yet been fully enacted. The new regulations are simply too convoluted… Read More

House to Vote on Financial Choice Act Next Week

The US House of Representatives will consider Dodd-Frank replacement legislation next week. The bill, HR.10 or “the Financial CHOICE Act,” is designed to ameliorate and remove the detrimental effects created by the Dodd Frank law. The complicated Dodd-Frank rules were signed into law as a… Read More

Point of View: Regulating The Fintech Revolution

What was previously a relatively innocuous industry sector, the financial technology (or “Fintech”) industry has exploded over the past few years. With the litany of new Fintech startups and existing Fintech businesses, and even Fintech specific incubators and accelerators popping up, the Fintech revolution is… Read More

Here is the Letter House Republicans Sent to OCC Admonishing Thomas Curry About Fintech Charter

  Comptroller of the Currency Thomas Curry recently said the Office of the Comptroller of the Currency will be issuing Fintech Charters. While the hope was the OCC would create a light touch, streamlined approach to empowering Fintech firms to operate across the US without… Read More

House Finance Services Committee Approves Six Bills to Help Small Business

The House Financial Services Committee (HFSC) approved six bills today, each designed to improve the environment for small business. All of these bills had previously passed the Committee in a prior iteration. Several had been approved by the full House. HFCS Chairman Jeb Hensarling commented… Read More

House Financial Services Committee Chair Hensarling Says Dodd Frank is on its Way Out

The Dodd–Frank Wall Street Reform and Consumer Protection Act has become an iconic act of legislation for the Democratic party. Not because it is good legislation but because its demise represents a profound retrenchment of what they fought so hard to accomplish. This is a… Read More

Back to Work: Helping Angels Lead Our Startups Act Passes the House

The Helping Angels Lead Our Startups Act or HALOS Act passed the House today with solid bipartisan support. The final vote stood at 344-73.  The HALOS Act, sponsored by House Small Business Committee Chairman Steve Chabot, addressed a nagging issue regarding when a business may make… Read More

Congressman McHenry Applauds Passage of Bill That Includes Crowdfunding Fix, Small Business Advocate & Accredited Investor Update

Chief Deputy Whip, Patrick McHenry, who is also Vice Chairman of the House Financial Services Committee, welcomed the passage of HR 6427 today or the Creating Financial Prosperity for Businesses & Investors Act.  The last minute legislative push by the House saw a bundling of six… Read More

Congressman Jeb Hensarling to Remain Chair of House Financial Services Committee

Congressman Jeb Hensarling will continue his leadership as Chairman of the influential House Financial Services Committee during the forthcoming 115th Congress in 2017. Hensarling has been a vocal advocate of regulatory rationalization regarding the financial services sector. Hensarling has attempted to address the current environment of… Read More

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