This story appeared in Bank Digest.
The House Financial Services Committee has approved 23 bills that are “largely aimed at ensuring that our economy is working for all working Americans,” according to a committee majority press release. In prepared remarks he made when the committee began considering the proposals on November 14, Chairman Jeb Hensarling (R-Texas) said the bills generally “will increase investment opportunities for more Americans. They will provide smaller businesses with greater access to the capital markets so those businesses can grow and create jobs. And certainly, they will deliver much-needed regulatory relief to community banks and credit unions so those Main Street financial institutions can better serve their customers.”
Hensarling said the bills included legislation that “will foster greater accountability and transparency at the Federal Reserve and restore congressional accountability for the Fed’s emergency lending.” In addition, there was “legislation to better protect our financial system by holding the regime of Iran—the world’s leading state-sponsor of terrorism—accountable for its illicit activities.”
The release contains a list of the bills the committee approved, as well as a description of each bill.