Financial Services
(Washington, DC)--Today, the House Financial Services Committee passed an amendment by voice vote, introduced by Congressman Al Green (TX-09), to the Entrepreneur Access to Capital Act (H.R. 2930). The amendment prevents individuals who have been convicted of federal or state securities fraud from being exempted from SEC registration requirements when they participate in transactions with aggregate securities issuances of $1 million and where individual investments equal the lesser of $10,000 or 10 percent of a person’s annual income.
(Washington, DC)--Today, Congressman Al Green (TX-09) applauded the Senate passage of the Conference Report on the Restoring American Financial Stability Act of 2010 (H.R.4173), which passed by a vote of 60-39. According to Green, this bill is not only fair for the American people, but historic for the nation. For the past few months Congressman Al Green, who serves on the House Committee on Financial Services, has played a major role in the design of the legislation.
(Washington, DC)--This week, the U.S. House of Representatives passed two amendments sponsored by Congressman Al Green (TX-09) to H.R. 5297, the Small Business Lending Fund Act of 2010. These amendments would improve disclosures by institutions receiving Small Business Lending Fund assistance and require the inclusion of multi-lingual outreach materials and considerations by participating institutions.
(Washington, DC)--Today, Congressman Al Green (TX-09) voted to pass historic legislation that will bring about the biggest changes in financial regulation since the New Deal, by voting in favor of H.R. 4173, the Wall Street Reform and Consumer Protection Act.
Passed in the House by a vote of 223 to 202, this act establishes a comprehensive set of rules that will enhance consumer and investor protections with the goal of preventing another financial crisis such as the one the nation is now recovering from.
(Washington, DC)--Congressman Al Green (TX-09) attended today a meeting at the White House in which President Barack Obama pushed for the prompt creation of a Consumer Financial Protection Agency, which is a key factor of the President’s proposed financial regulatory reform.
“The creation of a Consumer Financial Protection Agency would help avoid a repetition of the current economic recession and would also safeguard consumers from some of the practices that contributed to the meltdown of the financial system,” said Congressman Al Green after the meeting.
(Washington, DC)--Today, Congressman Al Green and Congressman Ed Perlmutter sent a letter to Securities and Exchange Commission (SEC) Chairman Mary Schapiro proposing possible modifications to the “mark-to-market” accounting standards currently in place. The mark-to-market standards have been criticized for exacerbating the ongoing financial crisis by causing extensive write-downs of assets and the loss of significant bank capital.
(Washington, DC)--On January 21, 2009, the House of Representatives passed legislation reforming and strengthening accountability in the Troubled Assets Relief Program (TARP) included in the Emergency Economic Stabilization Act passed last October. H.R. 384, the TARP Reform and Accountability Act, incorporated the provisions of the TARP Accountability Act, introduced earlier this month by Congressmen Steve LaTourette and Al Green.
(Washington, DC)--On December 10, 2008, Congressman Al Green (D-TX) joined Congressman Steven LaTourette (R-OH) in passing a bipartisan amendment to the Auto Industry Financing and Restructuring Act. The amendment enhances transparency in the lending provided for through the Act or through the Troubled Assets Relief Program (TARP) included in the Emergency Economic Stabilization Act passed earlier this year.
(Washington, DC)--Today, Congressman Al Green (TX-09), a member of the House Financial Services Committee, released the following statement on the passage of H.R. 1424, the Emergency Economic Stabilization Act of 2008.
The Emergency Economic Stabilization Act of 2008 passed the House today with a vote of 263-171. The bill came to the House after it was passed in the Senate on Wednesday, October 1, by a vote of 74-25.
(Houston, TX)--Today, Congressman Al Green was joined by House Financial Services Committee Chairman Barney Frank at a press conference to discuss housing issues and legislation pending in the House Financial Services Committee to address the ongoing subprime mortgage crisis.