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FSC Dems Convene Hearings on Holding Megabanks Accountable, Protecting Workers, and Using Sanctions to Ensure Our National Security
Prudential Regulators Testifying before the House Financial Services Committee on May 16.
Pictured Above: NCUA’s Chairman Rodney Hood, FDIC’s Chairman Jelena McWilliams, OCC Comptroller Joseph Otting and Federal Reserve Vice Chairman of Supervision Randal Quarles
This week, Chairwoman Waters and Committee Democrats convened the following hearings:
- Promoting Economic Growth: A Review of Proposals to Strengthen the Rights and Protections for Workers
Subcommittee on Investor Protection, Entrepreneurship and Capital Markets
- Assessing the Use of Sanctions in Addressing National Security and Foreign Policy Challenges
Subcommittee on National Security, International Development and Monetary Policy
- Oversight of Prudential Regulators: Ensuring the Safety, Soundness and Accountability of Megabanks and Other Depository Institutions
Full Committee
Chairwoman’s Corner
On Tuesday, the U.S. House of Representatives passed bipartisan legislation introduced by Chairwoman Waters and Ranking Member McHenry to extend the National Flood Insurance Program’s (NFIP) authorization to September 30, 2019. The authorization is due to expire on May 31. See the Chairwoman’s floor statement above.
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Four Financial Services Bills Pass the House
Below is a list of FSC bills passed by the U.S. House of Representatives this week:
- H.R.389, the Kleptocracy Asset Recovery Rewards Act, introduced by Congressman Stephen Lynch (D-MA) and Congressman Ted Budd (R-NC).
- H.R.1037, the Banking Transparency for Sanctioned Persons Act, introduced by Congressman Denver Riggleman (R-VA).
- H.R.1060, the Building Up Independent Lives and Dreams Act (BUILD Act), Congressman Barry Loudermilk (R-GA) and Congressman Brad Sherman (D-CA).
- H.R. 2578, the National Flood Insurance Program Extension Act of 2019, introduced by Congresswoman Maxine Waters (D-CA) and Congressman Patrick McHenry (R-NC)
Click here for details on these bills.
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Tweets of the Week
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Member Spotlight
Congresswoman Sylvia Garcia (D-TX)
On Thursday, Congresswoman Garcia introduced H.R. 2763, legislation to block a proposed U.S. Department of Housing and Urban Development (HUD) proposal that targets mixed-immigration status families.
"The cruelty of the proposed HUD rule is truly remarkable, even by the standards of this Administration," said Congresswoman Garcia. "Secretary Carson has chosen politics over people with the end result of forcing U.S. children to be separated from their families or risk homelessness."
Prior to the introduction of this legislation, Congresswoman Garcia, Chairwoman Waters and 21 Committee Democrats wrote a letter to HUD Secretary Carson condemning this cruel proposal.
Weekend Reads
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