Washington, DC - Congressman Andy Barr, Chair of the Subcommittee on Financial Institutions and Monetary Policy, has expressed his support for the Government Accountability Office's (GAO) decision on Staff Accounting Bulletin 121 (SAB 121). In a statement released today, Barr commended the GAO for reining in what he considers to be the unaccountable Securities and Exchange Commission (SEC).SAB 121, published by the SEC without public comment and engagement from prudential regulators, has been a cause for concern among financial institutions. Barr believes that this...
Last week, Chairman of the Financial Institutions and Monetary Policy Subcommittee, Andy Barr, and Chairman of the House Financial Services Committee, Patrick McHenry, sent a letter to the Government Accountability Office (GAO) requesting an examination of the role played by U.S. federal banking agencies in the development of the Basel III Endgame proposal. The proposal calls for significant increases in capital requirements for already well-capitalized U.S. financial institutions.The letter emphasizes the importance of transparency and accountability in the global...
Washington, D.C. - Congressman Andy Barr (KY-06) has expressed his concerns over the recent Final Rule on Community Reinvestment Act (CRA) Regulations issued by the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and Federal Reserve Board.In his statement, Barr acknowledged the importance of the CRA in eliminating redlining and promoting investment in local communities. However, he criticized the current rule, stating that it is "under analyzed, not forward-looking, and will only lock in the status quo." According to Barr,...
The Lexington Fayette Urban County Government's (LFUCG) Department of Housing Advocacy and Community Development is seeking public comment on its application for federal grant funding from the U.S. Department of Housing and Urban Development's (HUD) Pathways to Removing Obstacles to Housing (PRO Housing) funding opportunity.
Mayor Linda Gorton, Police Chief Lawrence Weathers and several members of the Urban County Council today cut a ribbon to officially open the new East Sector Roll Call, a satellite office where police officers who work in the eastern section of the city report for duty.
In a recent development, Congressman Andy Barr, Chairman of the Subcommittee on Financial Institutions and Monetary Policy, has led a group of 23 Republicans on the House Financial Services Committee in demanding transparency from Federal Reserve Chairman Jerome Powell. The demand comes in response to a leak of nonpublic confidential supervisory information (CSI) involving multiple financial firms that occurred on August 30.The lawmakers have expressed their concerns about the leaks of confidential, market-moving information from the Federal Reserve regarding supervisory...
Washington, D.C. - Congressman Andy Barr (KY-06) has expressed his concerns regarding the recent guidance issued by the Consumer Financial Protection Bureau (CFPB) on junk fees charged by large banks for basic consumer services.In a statement released this week, Barr criticized the CFPB's guidance, stating that it is "overly vague" and puts smaller and regional institutions at a disadvantage. He emphasized the importance of financial service providers being responsive to consumer requests for information without imposing unreasonable obstacles.However, Barr believes...
Washington, D.C.– Today, Congressman Andy Barr (KY-06) expressed his elation at the completion of the Blue Grass Chemical Agent-Destruction Pilot Plant's mission to destroy the last chemical weapons on the Blue Grass Army Depot property. The Congressman commended the efforts of the BGCAPP team and highlighted the significance of this achievement in meeting the United States' international treaty obligations."I am thrilled to celebrate the efforts taken by the Blue Grass Chemical Agent-Destruction Pilot Plant (BGCAPP) team in the elimination of America's last chemical...
Washington, D.C.– Congressman Andy Barr (KY-06) has spoken out in support of Israel's ongoing counterterrorism efforts against Hamas. In a statement released today, Barr emphasized the importance of defending Israel's national security and holding the perpetrators of recent attacks accountable.Barr stated, "Israel is fully justified to pursue terrorists in Gaza to defend its own national security, deter further rocket and missile strikes, and bring to justice those who have carried out these brutal and murderous attacks against innocent Israeli civilians."He further...