Financial Services

Luetkemeyer on the SAFE Banking Act

| Posted in Press Releases

WASHINGTON, D.C. – Congressman Blaine Luetkemeyer (MO-03) released the following statement regarding this week’s bipartisan House passage of the Secure and Fair Enforcement (SAFE) Banking Act which includes the Congressman’s legislation to end Operation Choke Point, the Obama-era initiative led by the Department of Justice and FDIC that sought to eliminate financial services for legally operating ...

Luetkemeyer, McHenry Urge FinCEN to Adhere to Congressional Intent with Updated Beneficial Ownership Regime and Small Business Protections

| Posted in Press Releases

WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) lead Republican on the House Consumer Protection Financial & Institutions Subcommittee and Congressman Patrick McHenry (NC-10), lead Republican on the House Financial Services Committee sent a letter to Treasury Secretary Janet Yellen urging the Financial Crimes Enforcement Network (FinCEN) to adhere to Congressional intent when impl...

Luetkemeyer, Financial Services Committee Hold Hearing with Powell and Yellen

| Posted in Press Releases

WASHINGTON, D.C. – Today in a hearing entitled, “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the House Financial Services Committee, Congressman Blaine Luetkemeyer (MO-03) questioned Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell about the economic effects of the pandemic. Click HERE to watch. On the need to provide forbearance while ...

Luetkemeyer, Velázquez, Kim, Bourdeaux Introduce Bipartisan Legislation Extending Paycheck Protection Program

| Posted in Press Releases

WASHINGTON, D.C. – Today, House Committee on Small Business Ranking Member Blaine Luetkemeyer (MO-03), Chairwoman Nydia M. Velázquez (NY-07), Congresswoman Young Kim (CA-39), and Congresswoman Carolyn Bourdeaux (GA-07) introduced the Paycheck Protection Program (PPP) Extension Act. This critical bipartisan legislation will provide a commonsense extension to the Paycheck Protection Program and targ...

Luetkemeyer Statement on CPFB Policy Change

| Posted in Press Releases

WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) released a statement following the Consumer Financial Protection Bureau’s (CFPB) announcement that it has rescinded a January 24, 2020 policy statement put in place by former Director Kathy Kraninger to provide clarity around what qualifies as an “abusive” act or practice. “Director Kraninger’s policy statement gave the CFPB the tool...

Luetkemeyer: We Must Ensure Political Views Do Not Interfere with Providing Relief to Small Businesses

| Posted in Press Releases

WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) delivered the following remarks at the full House Financial Services Committee markup of a portion of President Biden’s $1.9 trillion stimulus package regarding the need to ensure American jobs are not destroyed based on political pressure and all legally operating businesses have access to financial services. Click HERE for full rem...

Luetkemeyer on State Small Business Credit Initiative in House Reconciliation Package: Not an Immediate Response to an Immediate Problem

| Posted in Press Releases

WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) delivered the following remarks at the full House Financial Services Committee markup of a portion of President Biden’s $1.9 trillion stimulus package, including the State Small Business Credit Initiative (SSBCI) which does not require funding to be used until 2030. Click HERE for full remarks. "The SSBCI provision in the bill is cle...

Luetkemeyer Named Top Republican on the Subcommittee on Consumer Protection and Financial Institutions

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WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) was named Ranking Member of the House Financial Services Subcommittee on Consumer Protection and Financial Institutions for the 117th Congress. “I’m honored to once again lead one of the subcommittees that will be at the forefront of America’s economic recovery. It is our job to ensure financial institutions have the ability to conti...

Luetkemeyer Urges Biden Administration to Avoid Overregulation

| Posted in Press Releases

WASHINGTON, D.C. – This week, Congressman Blaine Luetkemeyer (MO-03), lead Republican on the House Small Business Committee and the Subcommittee on Consumer Protection and Financial Institutions sent a letter to President Joe Biden urging his Administration to avoid excessive regulation and government overreach similar to the Obama Administration, especially during America’s continued economic rec...

Luetkemeyer: TDR, CECL Provisions to Aid in Continued Economic Healing

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WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) released the following statement regarding the extension of two critical CARES Act provisions in today’s COVID-19 relief package. The bill includes a delay in the capital requirements of the Current Expected Credit Loss (CECL) accounting standard and the suspension of Troubled Debt Restructuring (TDR) classifications until January 1,...