Texas Insider Report: WASHINGTON DC U.S. Congressman Pete Sessions (R-TX) Chairman of the House Rules Committee issued the following statement after voting in favor of two measures that would rein in the Financial Stability Oversight Council (FSOC) and the Office of Financial Research (OFR) and allow more small banks to access capital to help them provide more products and services to their customers:
I have always believed that the biggest threat to our country is a big unchecked federal government. After nearly eight years of this president we have seen laws such as the Dodd-Frank Act take power away from Americans and expand the size and scope of Washington.
This 2300 page law has imposed hundreds of new crippling regulations on American businesses and given an unprecedented amount of power to unelected Washington bureaucrats. We cannot and must not let our country be derailed by this Administrations continued efforts to destroy the free-enterprise system. That is why I proudly voted to cut unnecessary red tape strangling small financial institutions including the more than 2000 community banks in Texas and create a more transparent system to review the practices of FSOC and OFR. This legislation would ensure that these organizations are held accountable for their actions not just by the President and his liberal cronies but by the American people.
For more information on H.R. 3340 Financial Stability Oversight Council Reform Act click here. For more information on H.R. 3791 To raise the consolidated assets threshold under the small bank holding company policy statement and for other purposes click here.
Texas Insider Report: WASHINGTON DC U.S. Congressman Pete Sessions (R-TX) Chairman of the House Rules Committee issued the following statement after voting in favor of two measures that would rein in the Financial Stability Oversight Council (FSOC) and the Office of Financial Research (OFR) and allow more small banks to access capital to help them provide more products and services to their customers:
I have always believed that the biggest threat to our country is a big unchecked federal government. After nearly eight years of this president we have seen laws such as the Dodd-Frank Act take power away from Americans and expand the size and scope of Washington.
This 2300 page law has imposed hundreds of new crippling regulations on American businesses and given an unprecedented amount of power to unelected Washington bureaucrats. We cannot and must not let our country be derailed by this Administrations continued efforts to destroy the free-enterprise system. That is why I proudly voted to cut unnecessary red tape strangling small financial institutions including the more than 2000 community banks in Texas and create a more transparent system to review the practices of FSOC and OFR. This legislation would ensure that these organizations are held accountable for their actions not just by the President and his liberal cronies but by the American people.
For more information on H.R. 3340 Financial Stability Oversight Council Reform Act click here. For more information on H.R. 3791 To raise the consolidated assets threshold under the small bank holding company policy statement and for other purposes click here.
