Congressman Blaine Luetkemeyer (R-MO) and Congressman Bill Foster (D-IL) sent a letter to Chair Gary Gensler of the U.S. Securities and Exchange Commission (SEC) calling on the agency to investigate recent market volatility attributed to short selling. “Short selling can support the integrity of markets and contribute to accurate price discovery,” the Congressmen said in the letter.… Read more »

Whether you were helping your parents on the family farm, dreaming of carrying on the family tradition one day or bagging groceries at the local supermarket, I’m sure we can all think back to our first job. The long hours and hard work and the eventual transition into what we chose as our career. Retirement often felt like a distant concept during our youth, as we diligently saved money… Read more »

WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-3) questioned witnesses from the Center for Monetary and Financial Alternative Cato Institute, Consumer Bankers Association, Commonwealth Credit Union, and Unidos US on the impact politicization of financial regulation has on consumer credit and community development. Watch… Read more »

Today, Congressman Blaine Luetkemeyer (MO-3) introduced the Secure Payments Act of 2024 directing the Federal Reserve Board of Governors to perform a thorough economic analysis of its proposed changes to Regulation II before finalizing the rule. Specifically, the analysis must measure the impact on consumers, including access to affordable debit accounts, and a review of the primary… Read more »

Today, Congressman Blaine Luetkemeyer (MO-03) responded the Consumer Financial Protection Bureau (CFPB) rule regarding credit card late fees. “Once again, the Biden Administration has picked campaign messaging over working families. Like nearly every action taken by the CFPB under Rohit Chopra this rulemaking will result in higher upfront costs for accessing credit and eliminate… Read more »

You’ve likely heard the term swipe fees or interchange fees regarding the use of debit cards and credit cards. In short, interchange fees are small fees merchants pay to card companies or banks for the ability to accept card payments and use their network. The fees cover everything from data security to points programs. For example, if you’ve ever had a fraudulent purchase show up on your… Read more »

Today, Congressman Blaine Luetkemeyer (MO-3) raised concerns over artificial intelligence-spurred bank runs. During a House Financial Services Committee hearing, the representative referenced his proposed legislation that would create tools for banking regulators to contain crises from devastating the broader banking system. Watch the full… Read more »

Today, Congressman Blaine Luetkemeyer (MO-3); chair of the Subcommittee on National Security, Illicit Finance, and International Financial Institutions; delivered opening remarks at the House Financial Services Committee Hearing, “Oversight of the Financial Crimes Enforcement Network (FinCEN) and the Office of Terrorism and Financial Intelligence (TFI)”   … Read more »

Today, Congressman Blaine Luetkemeyer grilled Treasury Undersecretary for Terrorism and Financial Intelligence (TFI) Brian E. Nelson on the agency’s failure to crack down on forced-labor supporter and Chinese Communist Party-linked Temu. Watch the full exchange HERE. Rep. Luetkemeyer: “Undersecretary… Read more »

Today, Congressman Blaine Luetkemeyer questioned Treasury Secretary Janet Yellen on banking regulators’ lackluster efforts to prepare banking models for artificial intelligence-spurred banking crises.  Watch the full exchange HERE. Rep. Luetkemeyer: “As we saw with Silicon Valley, social media, and… Read more »