The financial services sector in Minnesota is an impressive part of our business community and key industry throughout our state. In Minnesota's Sixth Congressional District alone we have 146 banks and 8 credit unions with nearly 60,000 of Minnseotans in this district employed in finance related fields. On top of those who work directly with the financial industry in Minnesota, there are thousands of additional constituents in my district who are employed by one of Minnesota’s 18 Fortune 500 companies. These companies rely heavily on the financial industry for capital formation and insurance.
For more information on Rep. Emmer's efforts on the Financial Services Committee click here.
On May 17, 2016, Rep. Emmer spoke at the Monetary Policy and Trade hearing which covered interest on reserves and the Fed's balance sheet.
More on Financial Services
Washington, D.C. - Today, Congressman Tom Emmer (MN-06) applauded the Consumer Financial Protection Bureau (CFPB) for further fostering innovation and reducing burdensome regulations that stifle the growth of financial technologies, or fintech. The CFPB issued three new policies: the No-Action Letter (NAL) Policy, Trial Disclosure Program (TDP) Policy, and Compliance Assistance Sandbox (CAS) Policy.
WASHINGTON, DC - Blockchain industry groups are voicing their support for Congressman Tom Emmer's (MN-06) trio of bills to support these new and promising technologies. Specifically, the legislation expresses support for the industry and development of blockchain and digital asset technologies in the United States; provides regulatory clarity to entities that never take control of consumer funds; and establishes a safe harbor for taxpayers with “forked” digital assets.
Emmer was also recently selected as a Co-Chair of the Congressional Blockchain Caucus.
WASHINGTON, DC - Today the U.S. House of Representatives passed Congressman Tom Emmer's (MN-06) Main Street Growth Act (H.R. 5877) which will create jobs, improve capital formation and encourage more early-stage Initial Public Offerings (IPOs) by facilitating the creation of venture exchanges. The bill passed 56-0 out of the Financial Services Committee last month.
“Today, the House took an important step to add to this economy’s growing momentum by passing the Main Street Growth Act,” said Congressman Emmer.
OPINION: Nothing Ventured, Nothing Gained
By Rob Daly
June 13, 2018
WASHINGTON, DC - Today Congressman Tom Emmer (MN-06) attended the White House Signing Ceremony for S. 2155 – Economic Growth, Regulatory Relief, and Consumer Protection Act.
WASHINGTON, DC - Today the House passed, and Congressman Tom Emmer (MN-06) supported, the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) which includes Congressman Emmer's Home Mortgage Disclosure Adjustment Act (HMDAA) and the Keeping Capital Local for Underserved Communities Act.
The Home Mortgage Disclosure Adjustment Act will bring relief to community financial institutions and small lenders across the country.
WASHINGTON, DC - Congressman Tom Emmer (MN-06), a member of the House Financial Services Committee, introduced the Preventing Excessive Mutual Fund Litigation Act to help protect the security of Americans' mutual fund investments, which are heavily regulated and too often the target of lengthy and costly lawsuits.
WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) announced its intent to provide relief for community financial institutions seeking to comply with excessive Dodd-Frank data collection and reporting requirements.