House Financial Services Committee advances 14 bills

After the House Financial Services Committee advanced 14 bills – including several measures designed to provide regulatory relief for community financial institutions — U.S. Rep. Randy Neugebauer (R-TX) released a statement on Wednesday to voice his support for the measures.

“After five long years of Dodd-Frank’s misguided regulatory assault on Main Street, I’m pleased the Financial Services Committee once again acted to provide regulatory relief for our community financial institutions and the hard-working Americans they serve,” Neugebauer, chairman of the Financial Institutions and Consumer Credit Subcommittee, said. “Washington’s one-size-fits-all rulemaking has shifted Dodd-Frank’s compliance costs down to many individuals and families — forcing them to absorb the higher cost of credit while reducing their access to popular financial products. This ‘new normal’ is unacceptable.”

Thus far during the 114th Congress, 38 bills have passed out of the House Financial Services Committee. Exactly half of those (19) have come from the Financial Institutions and Consumer Credit Subcommittee.

“As chairman of the Financial Institutions and Consumer Credit Subcommittee, I will continue to work in a bipartisan manner and advocate for well-tailored consumer protection that does not infringe upon consumer choice, or the ability of the American people to achieve greater opportunity,” Neugebauer said.

Neugebauer has represented Texas’ 19th District in the House since 2003. Born in St. Louis, Missouri, in 1949, Neugebauer was educated at Texas Tech University. Neugebauer serves on the following committees: Agriculture, Financial Services, and Science, Space and Technology.