Today the House Financial Services Committee welcomed Federal Reserve Vice Chair for Supervision Randal Quarles to testify. Financial Institutions and Consumer Credit Subcommittee Chairman Blaine Luetkemeyer (MO-03) delivered the following opening statement: Welcome Vice Chairman Quarles, thank you for joining us today and for the steps you’ve taken to right-size regulation. As we’ve discussed, it’s imperative we take a more practical approach to supervision, one that extends from the top down t...
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Yesterday, the Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency released proposals to change the bank supervisory regime. Congressman Blaine Luetkemeyer (MO-03), Chairman of the Financial Institutions and Consumer Credit Subcommittee released the following statement: “For years I’ve urged federal financial regulators to reassess the current supervisory regime, which is predominantly based on asset size and fails to adequately account for actual r...
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Today, Congressman Blaine Luetkemeyer (MO-03), Chairman of the Financial Institutions and Consumer Credit Subcommittee, sent letters to Federal Reserve Chairman Jay Powell, Federal Reserve Vice Chair for Supervision Randy Quarles, Bureau of Consumer Financial Protection Acting Director Mick Mulvaney, and National Credit Union Administration Chairman Mark McWatters urging them to restore confidence and investigate any actions related to Operation Choke Point. Chairman Luetkemeyer released the fol...
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Today, the Financial Stability Oversight Council (FSOC) de-designated Prudential Financial Inc. as a Systemically Important Financial Institution (SIFI). Congressman Blaine Luetkemeyer (MO-03), Chairman of the Financial Institutions and Consumer Credit Subcommittee, released the following statement: “I applaud FSOC’s unanimous decision to remove Prudential’s SIFI designation and I am thankful for Secretary Mnuchin’s leadership,” said Chairman Luetkemeyer. “While it is refreshing to see a return ...
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For the last five years, Congressman Blaine Luetkemeyer (MO-03), Chairman of the Financial Institutions and Consumer Credit Subcommittee, has led the charge against the aptly named “Operation Choke Point.” On Friday, newly-unsealed court documents revealed additional information exposing the blatant intimidation and bias employed by Obama Administration bureaucrats. Today, Chairman Luetkemeyer sent letters to Federal Deposit Insurance Corporation (FDIC) Chairman Jelena McWilliams and Comptroller...
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For many years, Congressman Blaine Luetkemeyer (MO-03) Chairman of the Financial Institutions and Consumer Credit Subcommittee has led the charge against the Obama Justice Department’s aptly named “Operation Choke Point.” Today, newly-unsealed court documents revealed additional information about the unconscionable breadth of this initiative. Chairman Luetkemeyer released the following statement: “For the last five years I have fought to end the Obama Administration’s ideologically driven initia...
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Today the United States Senate Confirmed Judge Brett Kavanaugh as the next Supreme Court Justice. Congressman Blaine Luetkemeyer (MO-03) released the following statement: “I’m proud of my Senate colleagues for adhering to the American ideals of fairness and due process throughout this nomination. Congratulations to Justice Brett Kavanaugh on his confirmation to United States Supreme Court,” said Congressman Luetkemeyer. “Based on his exemplary background and qualifications, Justice Kavanaugh wil...
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Financial Institutions and Consumer Credit Subcommittee Chairman Blaine Luetkemeyer (MO-03) held a hearing entitled “Examining Opportunities for Financial Markets in the Digital Era.” Chairman Luetkemeyer welcomed a panel of witnesses who discussed many issues including the recently released Fintech report from the Department of Treasury and Chairman Luetkemeyer’s data security bill that passed the committee this month. “I thank the witnesses for their valuable insight into the fintech landscape...
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Congressman Blaine Luetkemeyer (MO-03) joined his Republican colleagues to pass legislation that makes permanent individual and small business tax provisions contained in the Tax Cuts and Jobs Act. Congressman Luetkemeyer released the following statement after House passage of the Protecting Family and Small Business Tax Cuts Act: “Since President Trump signed comprehensive tax reform into law just before Christmas, Missourians have kept more of their hard-earned money and enjoyed a booming Amer...
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Today the House Financial Services Committee passed H.R. 6743, the Consumer Information Notification Requirement Act. The legislation, sponsored by Subcommittee on Financial Institutions and Consumer Credit Chairman Blaine Luetkemeyer (MO-03), will institute a new statutory requirement that all financial institutions notify consumers in the event of a breach involving their personal information. Chairman Luetkemeyer released the following statement: “Nearly every week we discover new data breach...
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