Congressman Blaine Luetkemeyer (MO-03) has been pleased with the willingness of prudential regulators to address the inappropriate application and enforcement of guidance in the financial sector. In September, the Federal Reserve, Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA) and Office of the Comptroller of the Currency (OCC) released an Interagency Statement announcing an important distinction between guid...
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Congressman Blaine Luetkemeyer (MO-03) reintroduced the Protecting Life and Integrity in Research Act today. “The fact that an organization has profited from the sale of infant body parts is deeply disturbing and absolutely disgraceful. As a Congressman, it is my responsibility to protect the most vulnerable among us and to be a good steward of taxpayer dollars,” said Congressman Luetkemeyer. “My bill ensures taxpayer funded research will never be used for the horrific practice of trafficking in...
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Congressman Blaine Luetkemeyer (MO-03) introduced four bills to provide critical fixes to the Federal Emergency Management Agency’s (FEMA) National Flood Insurance Program (NFIP). Congressman Luetkemeyer released the following statement: “Throughout my time in Congress, bipartisan calls for comprehensive reform of the NFIP have gone unanswered. I represent thousands of miles of shoreline along the Lake of the Ozarks, Mississippi River, Missouri River, and Osage River where my constituents contin...
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Congressman Blaine Luetkemeyer (MO-03) announced the fourth annual “Valentines for Veterans” program today, asking third district residents to send a kind note thanking our nation’s bravest for their service. “I’m thrilled to announce my fourth annual ‘Valentines for Veterans’ initiative today. Last year my office received more than 12,000 valentines, brightening the day of local veterans with simple words of gratitude and kindness,” said Congressman Luetkemeyer. “I hope everyone can find a mome...
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On the opening day of the 116th Congress, Congressman Blaine Luetkemeyer (MO-03) has reintroduced the Financial Institution Customer Protection Act. Congressman Luetkemeyer’s legislation will finally put an end to the unconscionable initiative aptly dubbed “Operation Choke Point.” Congressman Luetkemeyer released the following statement: “Bureaucrats playing partisan politics with the livelihoods of American citizens is an appalling abuse of power, no matter your ideological leanings. For the la...
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Congressman Blaine Luetkemeyer, Chairman of the Subcommittee on Financial Institutions and Consumer Credit, has been at the forefront of the conversation surrounding the Financial Accounting Standards Board’s (FASB) Current Expected Credit Loss (CECL) standard. Several months ago, Chairman Luetkemeyer co-hosted a roundtable discussion with members of the House Financial Services Committee, regulators and stakeholders to discuss possible implications for our economy. Just last week, Chairman Luet...
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Guidance and rulemaking have important, but distinct, roles at agencies across the federal government. Regrettably, over the last few years there has been a hazy distinction between guidance and rule. Today, Congressman Blaine Luetkemeyer (MO-03) introduced the Guidance Clarity Act and released the following statement: “Across the federal bureaucracy, the application of guidance has been abused through so-called ‘regulation by enforcement.’ Our government prides itself on a transparent system of...
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Today the U.S. House of Representatives passed the Conference Report to H.R. 2, the Agriculture and Nutrition Act of 2018, also known as the Farm Bill. Congressman Blaine Luetkemeyer (MO-03) released the following statement in support of this critical legislation: “A few months ago, I voted in support of the House-passed farm bill to ensure stability for our Missouri farmers because I understand how hard they work day in and day out to put food on our tables and in our grocery stores. After mont...
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Congressman Blaine Luetkemeyer (MO-03), Chairman of the Subcommittee on Financial Institutions and Consumer Credit, delivered the following opening statement at a hearing entitled “Assessing the Impact of FASB’s Current Expected Credit Loss (CECL) Accounting Standard on Financial Institutions and the Economy.” There has been much conversation over how to best calculate expected credit losses for financial firms. That conversation has taken place at the Financial Accounting Standards Board and in...
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The Waters of the United States (WOTUS) rule was one of the most egregious regulations stemming from the Obama Administration. When President Trump took office, he directed agencies of jurisdiction to review and replace the WOTUS rule, returning power back to the states. Today, the Environmental Protection Agency (EPA) has proposed a new definition of WOTUS to end years of regulatory uncertainty. Congressman Blaine Luetkemeyer (MO-03) released the following statement: “As we continue the fight f...
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