Congressman French Hill (AR-02) issued the following statement after supporting bipartisan legislation to help provide Americans with affordable housing options: “Hardworking Arkansans, especially those in our rural communities, depend on manufactured homes as an affordable housing option. With only a handful of lenders making loans for manufactured home, it is already difficult for homebuyers to get the financing they need without needless obstacles. The days of the Consumer Financial Protectio...
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Today, Congressman French Hill (AR-02) and other members of the Financial Services Committee advanced 23 bills for future House consideration. Among the measures advanced included H.R. 3978, the TRID Improvement Act and H.R. 4278, the Independence from Credit Policy Act, introduced by Congressman Hill, the Committee’s Majority Whip. Rep. Hill’s Statement on H.R. 3978, the TRID Improvement Act: “Consumers deserve to know the costs of their title insurance premiums when they purchase a home. As TR...
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Banking industry lobbyists and representatives are practically salivating over the election results, convinced that Republican control of the White House and Congress will finally give them the opportunity to roll back key parts of the Dodd-Frank Act. President-elect Donald Trump's transition team declared war Thursday on the 2010 financial reform law, vowing to "dismantle" it while blaming the law for slow economic growth. "The Dodd-Frank economy does not work for working people," the transitio...
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Hill admonishes Wells Fargo CEO U.S. Rep. French Hill told Wells Fargo CEO John Stumpf that he was surprised and disappointed by news of the company's 2 million fake accounts, created by employees under pressure to meet sales goals. "I've been a customer of your company, and I've admired your company and I've used your company as an example for my own businesses in the past 20 years," Hill said Thursday. After learning of the misconduct that cost 5,300 Wells Fargo employees their jobs, "I have t...
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Wells Fargo CEO John Stumpf returned to Capitol Hill Thursday to testify about the bank's sales practices before the House Financial Services Committee on Thursday morning. Scroll down for updates compiled through the day. 2:11 p.m. Hearing wraps. 2:05 p.m. Bruce Poliquin (R-Maine) says "I'm looking at this pattern of you folks ripping off customers, paying a fine and doing the damn thing over again." The bank paid $11 billion in settlement costs over several years, he says. Charged Stumpt of no...
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Alexander Hamilton, one of the founders of our great national experiment (and now namesake of Broadway's biggest hit), once stated that a key benefit of a solid financial system is that "banks become the nurseries of national wealth."
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WASHINGTON — The selection of Indiana Gov. Mike Pence as Donald Trump's running mate could clarify the presumptive Republican nominee's banking policy views, adding to the ticket a policymaker who has been outspoken about the Dodd-Frank Act and other financial topics.
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It appears GSE reform may actually be on the horizon—or at least discussed regularly in Washington—thanks to a new bill proposed by Congressman French Hill (R-Arkansas) recently.
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, Sept. 29, 2015 (GLOBE NEWSWIRE) -- via PRWEB - The American Land Title Association (ALTA), the national trade association of the land title insurance industry, released the following statement in response to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray's testimony before the House of Representatives Financial Services Committee today: "We appreciate Director Cordray once again recognizing the need for a hold-harmless period for companies that make a good-faith effort to...
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U.S. Rep. French Hill wants Congress to assure banks and title companies that the government will be lenient as they work under new rules starting Saturday that will affect people purchasing or refinancing homes. The Consumer Financial Protection Bureau rules were proposed more than two years ago. They require that homebuyers receive easier-to-understand disclosure forms that clearly lay out the terms of a mortgage and also require title loan companies to prove they are following certain best pr...
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