Financial Services Committee
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Congressman Andy Barr (KY-06), Chairman of the House Financial Services Committee’s Monetary Policy and Trade Subcommittee, issued the following statement in response to Federal Reserve (Fed) Chairman Jerome “Jay” Powell’s speech today before the Economic Club of New York:
Congressman Andy Barr (KY-06) today voted in favor for the FY19 National Defense Authorization Act (NDAA) Conference Report, which provides over $708 billion for the Department of Defense and other national security programs.
Today, the House of Representatives passed S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, the most pro-growth regulatory relief legislation in a generation. This package includes two bills introduced by Congressman Andy Barr (KY-06) – H.R. 2226, the Portfolio Lending and Mortgage Access Act, and H.R. 1699, the Preserving Access to Manufactured Housing Act.
Congressman Andy Barr (KY-06) issued the following statement following Senate passage of S. 2115, the Economic Growth, Regulatory Relief, and Consumer Protection Act, a bipartisan package that would reform the Dodd-Frank Financial Control Law:
H.R. 2226, the Portfolio Lending and Mortgage Access Act, introduced by Congressman Andy Barr (KY-06) was passed today by the full House of Representatives. The legislation would extend the “Qualified Mortgage” legal safe harbor to small creditors, banks and credit unions, with total consolidated assets of $10 billion or less who originate and hold residential mortgage loans in portfolio, rather than selling or securitizing them, allowing those lenders to satisfy Dodd Frank’s ability-to-repay rule.
Congressman Andy Barr (KY-06) today applauded the latest sanctions on North Korea announced by the Trump Administration, and encouraged the Senate and the President to go further by enacting H.R. 3898, the Otto Warmbier North Korea Nuclear Sanctions Act. Congressman Barr, who serves as Chairman of the House Financial Services Subcommittee on Monetary Policy and Trade with jurisdiction over the implementation of foreign sanctions, introduced the legislation to impose the harshest sanctions ever directed at Pyongyang. The bill passed in the House last year by a vote of 415 – 2.
The House of Representatives passed H.R. 3326, the World Bank Accountability Act introduced by Congressman Andy Barr (KY-06). The legislation would withhold up to 30 percent of future U.S. appropriations for the World Bank’s International Development Association until the Secretary of the Treasury certifies that the Bank has undertaken reforms to fight corruption, strengthen management accountability, and combat violent extremism.
Today, the House of Representatives passed bipartisan legislation introduced by Congressman Andy Barr (KY-06). The Preserving Access to Manufactured Housing Act of 2017 corrects a Consumer Financial Protection Bureau (CFPB) regulation which has harmed lower and moderate income families by making it harder for lenders to offer financing for manufactured homes.
Congressman Andy Barr (KY-06) introduced H.R. 4270, the Monetary Policy Transparency and Accountability Act of 2017. The legislation requires the Federal Reserve to adopt an easy to understand policy strategy, and clearly explain how its actual policies compare to a set of well-known benchmarks. In doing so, households, businesses and investors will have greater confidence and certainty in their financial and investment decisions.
Congressman Andy Barr (KY-06) issued the following statement after President Donald Trump nominated Jerome “Jay” Powell to serve as the next Chairman of the Federal Reserve: