Financial Services Committee Chairman Jeb Hensarling today announced subcommittee assignments for the panel's Republican members.

"Given the state of our struggling economy, the work of our committee and subcommittees has perhaps never been more important to hard-working taxpayers. The fact is that during the past few years, we've seen a mind-numbing, innovation-choking, job-killing flood of federal red tape.  We've watched the mother of all bailouts - the one for Fannie Mae and Freddie Mac - take nearly $200 billion out of taxpayers' pockets. And we've observed how Congress enshrined a 'too big to fail' bailout scheme into law.

The NAIC officially announced that former Nebraska Senator Ben Nelson has been named Chief Executive Officer (CEO) of the National Association of Insurance Commissioners (NAIC).

Nelson will lead the NAIC's efforts to meet the needs of its members and represent their interests as the primary advocate and chief spokesperson in Washington, D.C. His responsibilities will include outreach to federal and international governmental entities, as well as state government associations, consumers and insurance industry representatives. 

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Former U.S. Attorney Mary Jo White to Head Securities and Exchange Commission

President Obama is tapping Mary Jo White, a former United States attorney turned white-collar defense lawyer, to be the next chairwoman of the Securities and Exchange Commission, according to the White House.

Mr. Obama is set to announce the nomination at the White House on Thursday afternoon. As part of the event, the White House will also re-nominate Richard Cordray to lead the Consumer Financial Protection Bureau, a role he has held for the last year under a recess appointment.

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