Tipton named vice chairman of House financial services panel

The Journal

U.S. Rep. Scott Tipton, R-Cortez, has been appointed to serve as vice chairman of the House Financial Services Subcommittee on Oversight and Investigations. He will serve under Subcommittee Chairwoman U.S. Rep. Ann Wagner, R-Mo.

In the 114th Congress, the Financial Services Subcommittee on Oversight and Investigations examined the events surrounding the Obama Administration’s $400 million cash payment to Iran in January of 2016, the impact of the Puerto Rico debt crisis on U.S. markets, privacy issues related to the Consumer Financial Protection Bureau’s mass data collection practices, and other topics.

In 2015, Tipton introduced a House bill that would eliminate and streamline rules from financial regulatory agencies, including some in the Dodd-Frank Act. HR 2896 intended to allow banks and credit unions to focus more resources on providing services to customers, instead of devoting resources to compliance with regulations.

Tipton also serves on the Congressional Western Caucus and Small Business Caucus, according to his communications director, Liz Payne.

“Generally the focus of the new Congress will be to look at regulations that President (Barack) Obama has put forward in the lame duck session and rolling those back, especially ones that step on states’ rights,” Payne said.

Those regulations might include the Affordable Care Act, the Dodd-Frank Wall Street Reform Act, the Bureau of Land Management’s Planning 2.0 program and the Department of Labor’s fiduciary and overtime rules, Payne said.

For more information, visit www.tipton.house.gov.