Concerns over Marijuana Companies and banking. This is just under three hours. The committee will come to order without objection the clair is authorized to declare a recess of the committee at any time. All members have five legislative days within which to submit materials to the chair. This hearing is for the purpose of receiving the second of treasurys annual report on the Financial Stability of oversight counsel. Now recognize myself for 3 1 2 minutes to give an Opening Statement. Mr. Secretary this is your first appearance before the house. After the tax cuts and jobs act has been signed into law. I want to let you know on behalf of the majority, our grateful we are to you and to the president for your leadership and for helping make this act signed into law. It is truly, truly historic. After eight years of failed economic policies that led to the slowest weakest recovery, the economy is starting to take off in wages are finally growing again. Consumer optimism abounds. Interest
It provided numerous recommendations, insights into the councils key activities and identified potentially merging threats to Financial Stability. One of the rejss urged congress to reform the Housing Finance system and boost the role of private capital in morning finance. Ive repeatedly stated that the status quo is not a viable option and reforming the Housing Finance system is one of my key priorities. Testifying before the Banking Committee last year, secretary mnuchin reaffirmed his commitment to work with us to find a solution and stressed the importance of finding a balance between ensuring strong Taxpayer Protection and ample access to credit. Four years ago, a Bipartisan Group of senators passed a Housing Finance reform bill in this committee. We have an opportunity now to build on that effort and create a broader coalition of republicans and democrats to pass a bill into law. This remains one of my Top Priorities and i look forward to continuing to work with the other members
Order. Today treasury secretary Steven Mnuchin will testify on 2017 annual report and the operations and actions. Identified potentially threats. One of the recommendations urged congress to reform Housing Finance system and boost role of private capital. I have repeatedly stated that the status quo is not a viable option and reforming is one of my key priorities. Four years ago a Bipartisan Group of senators passed Housing Finance reform bill in this committee. We have an opportunity now to build on that effort and create a broader coalition of republicans and democrats to pass a bill into law i look forward to continuing to work with the other members of this committee with secretary mnuchin and other stake holders throughout this process. Another focus was Cyber Security. The list of significant tieber attacks in the public and private sector keeps growing at an alarming rate and seems to have impacted the majority of all americans. Its critical that personal data is protected and w
Finance. Viableude this is not a option. Activities,diminution worked wo find a solution and find a balance between taxpayer an annual access to credit. Four years ago, a bipartisan. Roup passed this committee we have an opportunity to build on that effort and create a broader coalition of republicans and democrats to pass a bill. Nto law it remains one of my Top Priorities and i look forward to continuing with secretary mnuchin and other stakeholders throughout the process. Washer focus of this report Cyber Security. Area due toty is an the increasing criminals and growing scope and scale of icious malicious fax attacks, including data breaches. The maliciousness in the probably can private sector keeps growing at an alarming rate and seems to have impacted the majority of all americans pare the council made recommendations to specifically address security risks, including greater collaboration collaboration. It is critical that personal data is affected by both the government and ind
The fact that President Trump has come forward with a new strategy so there are 3 Million Girls in school and there is a moral component so there is a lot of progress that doesnt get a lot of coverage when the price is way too high. From ambassador way new is a former coordinator so we have a very good people to cover the issues today. You cannot solve those challenges without diplomacy and development and we welcome the fact that requires a securityis component that it is changed by diplomacy and development we want to have that part of the conversation and work ourselves out of a job if it is in a different place then the amount of assistance is much smaller than 10 years ago. Something north of 10 . If you l every every dollar theyre collecting in taxes and that pays for schools and m hospitals we want to see Economic Growth, said tax collection or work ourselves to a smaller part of a job. And then to have a vision so that nonmilitary side is critical. Ink the my very good friend w