March 31 

Fireside Sessions

Assessing our Financial Institutions

This week, my colleagues and I on the House Financial Services Committee demanded information from the Fed and the FDIC regarding their regulatory activities for the past two years leading up to the collapse of both banks. Specifically, I asked our panel of witnesses if they took any level of responsibility for the bank failures. 

ImageI was pleased to hear multiple individuals answer yes, in response. Now it is time for our national financial institutions to fix the underlining problems to guard against any future “moral hazard,” giving insured banks incentives to pursue added risks by maximizing profits while shifting losses to the federal government.
I will continue my work as the Senior Texan on the House Financial Services Committee by providing stronger oversight, not just more regulation. I believe regulators must be directed by Congress to stick to their mandate of safety and soundness, rather than political and social agendas.
You can watch my remarks during the hearing here.

Protecting American Citizens

As Chairman of the Subcommittee on Government Operations and the Federal Workforce, I held a hearing this week to assess the rampant fraud and corruption within the Government Services Administration (GSA) and their government-wide single-sign-on service Login.gov. Login.gov is a security service that is provided to all federal agencies as a one-stop verification hub for Americans, who wish to access benefits, make requests, and other applications requiring secure identity verification. A recent GSA Inspector General report revealed that the former Login.gov leadership misled federal agencies that relied on its identity-proofing services, charging them for the services they did not provide, and continued this practice over the course of years. Login.gov was engaged in abuse and fraud wasting taxpayer dollars and opening a potentially significant security risk for millions of Americans. Login.gov was also likely a weak point that fraudsters used to take advantage of pandemic relief programs.

ImageDuring the hearing, we confirmed the misdeeds of the GSA. Login.gov did not meet the National Institute of Security Technology (NIST) digital identity requirements as they claimed. The GSA knowingly billed 22 federal agencies over than $10 MILLION for services they did not render.
We will be following up with Login.gov and the GSA to determine if the changes they are making are sufficient. Additionally, we will examine rumors that the Biden Administration may do away with current standardized requirements altogether, due to erroneous equity concerns.
You can watch my opening remarks here.

2023 Congressional Art Competition

The Congressional Art Competition is a decades-long tradition meant to encourage and recognize the rich talent of young artists throughout the country. Every spring, Congressman Sessions invites students from the 17th District to join this annual competition and showcase their artistic skills. 

The Congressional Art Competition is open to all students grades 9–12 who reside or attend school in the 17th District. The winner from Texas' 17th District will have their artwork displayed for one year in the U.S. Capitol; student-winners will also be sent a copy of a full-color book that exhibits each first-place artwork. The exhibit in Washington, D.C., will include the winning artwork from all participating districts from around the country. The winning artwork is also featured on the Congressional Art Competition page.

This year’s theme for Texas’ 17th Congressional District will be “Patriotism in America” as an opportunity for students to showcase why they are proud to be an American. All submissions must fit within the artist's interpretation of the theme. If you would like to submit your artwork, you can visit my website here.


In the News

National

MSN: Congress Grills Top Federal Financial Officials Over Recent Bank Failures

The Daily Wire: Black Democrat Slams Leftist Feds for Lying, Wasting Money in the Name of 'Equity'

Yahoo Finance: Lawmakers Agree Fed Wasn't Tough Enough with SVB. They Disagree on Fixes.

 

Sincerely,
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Pete Sessions
Member of Congress

 

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