U.S. Representative Ed Royce

39th District of California
 
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  • Royce Pushes Level Playing Field for U.S. Insurers
    Posted in Press Releases on September 29, 2016 | Preview rr
    Tags: Financial Services

    U.S. Representative Ed Royce (R-Calif.), Chairman of the House Foreign Affairs Committee, questioned witnesses about the importance of a U.S.-E.U. covered agreement to protect American insurance firms and consumers during a Housing and Insurance Subcommittee hearing entitled “The Impact of the U.S.-E.U. Dialogues on U.S. Insurance Markets.” “I agree with the Chairman’s previous statement of support for a narrow covered agreement to be concluded as quickly as possible because I think it serves as... Read more

  • Rep. Royce Grills Wells Fargo CEO on "Toxic Sales Culture"
    Posted in Press Releases on September 29, 2016 | Preview rr
    Tags: Financial Services

    U.S. Representative Ed Royce (R-Calif.), a senior member of the House Financial Services Committee, questioned Wells Fargo Chairman and CEO John Stumpf during a hearing entitled “Holding Wall Street Accountable: Investigating Wells Fargo’s Opening of Unauthorized Customer Accounts.” “The idea of a cross-selling target of at least eight products clearly is part of a long-term practice at Wells Fargo going back at least to your predecessor because in 1998 Fortune Magazine quotes 'doubling the aver... Read more

  • Reps. Royce and Blumenauer Introduce NFIP Reforms to Save Taxpayer Money
    Posted in Press Releases on September 28, 2016 | Preview rr
    Tags: Financial Services

    Today, U.S. Representatives Ed Royce (R-Calif.) and Earl Blumenauer (D-Ore.) introduced H.R. 6196, the Repeatedly Flooded Communities Preparation Act. The bill aims to mitigate the financial resources expended by the National Flood Insurance Program (NFIP) and taxpayers on claims for properties flooded multiple times: “It’s said that insanity is doing the same thing over and over again and expecting different results, yet when it comes to the NFIP and properties that flood repeatedly, that's wha... Read more

  • Royce and Yellen Discuss Community Bank Consolidation and Need for Regulatory Relief
    Posted in Press Releases on September 28, 2016 | Preview rr
    Tags: Financial Services

    U.S. Representative Ed Royce (R-Calif.) questioned Chair of the Federal Reserve Board of Governors Janet Yellen about increased community bank consolidation at the House Financial Services Committee hearing entitled “Semi-Annual Testimony on the Federal Reserve’s Supervision and Regulation of the Financial System.” “I had a question... about the unprecedented consolidation that we have seen in community financial institutions where there are fewer and fewer of them. Smaller institutions have few... Read more

  • Reps. Royce and Honda Support Sec. Norman Mineta for the Congressional Gold Medal
    Posted in Press Releases on September 28, 2016 | Preview rr
    Tags: Veterans' Affairs

    Today, U.S. Representatives Ed Royce (R-Calif.) and Mike Honda (D-Calif.) introduced legislation to award the Congressional Gold Medal to Norman Yoshio Mineta, a former U.S. Secretary of Transportation, U.S. Representative, and Mayor of San Jose, California. “Since the American Revolution, Congressional Gold Medals have been commissioned to show our nation’s highest expression of gratitude to those who have contributed greatly to our country. Secretary Norman Mineta’s lifetime of service is dese... Read more

  • Royce Highlights Bills to Increase Consumer Access to Credit
    Posted in Press Releases on September 27, 2016 | Preview rr
    Tags: Financial Services

    U.S. Representative Ed Royce (R-Calif.) questioned witnesses on two of his legislative proposals to protect and bolster consumer access to credit during a Financial Institutions and Consumer Credit Subcommittee hearing entitled "Examining Legislative Proposals to Address Consumer Access to Mainstream Banking Services." The Subcommittee considered H.R. 347, the Facilitating Access to Credit Act, and H.R. 4211, the Credit Score Competition Act. “I'm in Southern California and we have one of the hi... Read more

  • Royce Calls for Better Efficiency and Local Control in Public Housing Spending
    Posted in Press Releases on September 26, 2016 | Preview rr
    Tags: Homeowner Assistance

    U.S. Representative Ed Royce (R-Calif.) recently questioned witnesses on how to increase efficiency and local control in public housing spending during a Housing and Insurance Subcommittee hearing entitled “The Future of Housing In America: A Better Way to Increase Efficiencies For Housing Vouchers and Create Upward Economic Mobility." "The cost of the Housing Choice Voucher program consists of two parts: payments to owners to cover the difference between a tenant’s contribution and rent; and ad... Read more

  • Chairman Royce Launches Asian American Community Working Group
    Posted in Press Releases on September 26, 2016 | Preview rr
    Tags: Education, Asia and the Pacific

    U.S. Representative Ed Royce (R-Fullerton), Chairman of the House Foreign Affairs Committee, recently launched the Asian Pacific Congressional Advisory Council (APCAC). The working group made up of local leaders of Chinese, Filipino, Indonesian, Korean, Taiwanese, and Vietnamese descent will meet with Chairman Royce on a regular basis to discuss federal issues of concern to the Asian American community in Southern California. “As a representative of a vibrant Asian American community, meeting th... Read more

  • Royce Examines the Negative Impact on Consumers of Growing Corporate Governance Red Tape
    Posted in Press Releases on September 26, 2016 | Preview rr
    Tags: Financial Services, Economy and Jobs

    U.S. Representative Ed Royce (R-Calif.) recently questioned witnesses on the negative impact of rising corporate governance compliance costs on consumers during a Capital Markets and Government Sponsored Enterprises Subcommittee hearing entitled “Corporate Governance: Fostering a System that Promotes Capital Formation and Maximizes Shareholder Value.” "The U.S. has half as many publicly listed companies trading on its exchanges today as it did in 1996. That’s a pretty precipitous drop, and that ... Read more

  • Royce Questions Lew on Tax Reform and FSOC Designations
    Posted in Press Releases on September 22, 2016 | Preview rr
    Tags: Financial Services

    U.S. Representative Ed Royce (R-Calif.) questioned U.S. Secretary of the Treasury Jack Lew at a House Financial Services Committee hearing entitled "The Annual Report of the Financial Stability Oversight Council” on tax reform and the influence of the Financial Stability Board (FSB) on the Financial Stability Oversight Council (FSOC). "I know back in 1986, you sat next to Tip O’Neil back when he and Ronald Reagan were working on the ’86 Tax Act and I was wondering what advice you might give mayb... Read more