Press Releases

: Financial Services Committee Chairman-elect Spencer Bachus today released the following statement in response to the primer on the causes of the financial crisis issued earlier today by the Republican Commissioners on the Financial Crisis Inquiry Commission (FCIC).   "The FCIC Republican commissioners plainly stated what most Americans have known all along but that… Read more »

-Financial Services Committee Chairman-elect Spencer Bachus today welcomed the new Members appointed to the Committee in the 112th Congress.   Chairman-elect Bachus said, "Our new members are all strong advocates for American taxpayers and Main Street businesses. Our Committee will be at the forefront of ending the bailout of Fannie Mae and Freddie Mac and the discredited… Read more »

: Financial Services Committee Chairman-elect Spencer Bachus today announced his appointments for committee leadership positions in the 112th Congress.  In addition to naming the vice chairman and subcommittee leaders, Bachus announced plans to modify subcommittee jurisdictions to promote a more efficient and balanced work-load for committee members. "This is the… Read more »

: The House Republican Conference today confirmed the Steering Committee's choice of Congressman Spencer Bachus (R-AL) as Chairman of the House Financial Services Committee.  Bachus has been a member of the Financial Services Committee since 1993, and has served as Ranking Member since 2007. "This is a tremendous honor and I'm grateful for the support from incoming House… Read more »

-  Financial Services Committee Ranking Member Spencer Bachus issued the following statement regarding the Democrats' claim that the Troubled Asset Relief Program (TARP) will end on October 3rd. "The TARP program is alive and actively funding the Democrats' liberal agenda. While Americans want an end to TARP and all taxpayer-funded bailouts, Democrats are intent on continuing… Read more »

Financial Services Committee Ranking Member Spencer Bachus today joined Pennsylvania Governor and former DNC Chairman Ed Rendell on CNBC's "Squawk Box" to discuss the need to reform Fannie Mae and Freddie Mac, the two government sponsored entities at the heart of the financial crisis that are propped up by unlimited taxpayer support. During the interview, Rendell expressed agreement with… Read more »

-  Financial Services Committee Ranking Member Spencer Bachus said the Democrats voted once again to extend taxpayer-funded bailouts by rejecting this week's YouCut submission, offered by Rep. Eric Paulsen (R-MN), that would permanently end TARP and the billions of dollars in programs that were created under its authority. "Extending the taxpayer-funded bailouts is a clear… Read more »

"The failure of the Democrats to even consider meaningful reforms to fix Fannie Mae and Freddie Mac - the two government sponsored entities at the heart of the financial crisis that are propped up by unlimited taxpayer support - is irresponsible, and a total abdication of congressional responsibility.  Committee Republicans have offered plans to shut off the $150 billion (and… Read more »

-  Financial Services Committee Ranking Member Spencer Bachus made the following statement during House consideration of legislation to repeal section 929I of the Dodd-Frank Act. "Madam Speaker, I rise in support of S. 3717, legislation to amend and repeal a provision of the Dodd-Frank Act - Section 929I- that grants the Securities and Exchange Commission a broad exemption… Read more »

- Financial Services Committee Ranking Member Spencer Bachus issued the following statement on the release of A Pledge to America, which was presented today by House Republicans after an unprecedented initiative of  listening to the views and concerns of Americans across the country. "America is the largest economy in the world, larger than our four next… Read more »