Chairman-elect Jeb Hensarling today announced he has selected his leadership team for the Financial Services Committee of the 113th Congress.
“I look forward to working alongside my colleagues to pass laws to help foster the deepest, most liquid, competitive, efficient, innovative, and transparent capital markets the world has ever known,” said Hensarling. “This… Read more »
Financial Services Committee Chairman Spencer Bachus today delivered the following statement at a hearing on the Volcker Rule, a controversial provision of the Dodd-Frank Act designed to prohibit proprietary trading by U.S. banks. The committee's hearing examined the harmful impacts the Volcker Rule will have on job creation, the economy and investors.
"This morning the Committee… Read more »
Two important bipartisan bills that came out of the Financial Services Committee earlier this year are headed to the president’s desk for his signature.
One bill, sponsored by Rep. Blaine Luetkemeyer and Rep. David Scott, eliminates a redundant fee disclosure requirement on automatic teller machines (ATMs) that has spawned lawsuits by unscrupulous plaintiffs and vandals who sue ATM… Read more »
The House on Wednesday passed bipartisan legislation that eliminates confusion for consumers and ends duplicative and bureaucratic paperwork requirements for financial institutions.
The bill, the Eliminate Privacy Notice Confusion Act, ends the annual privacy notice requirement for financial institutions if the institutions have not made any changes to their privacy practices over the… Read more »
Financial Services Committee Chairman Spencer Bachus today released the following statement at a subcommittee hearing on the economic impact of derivatives regulations contained in Title VII of the Dodd-Frank Act:
"The Dodd-Frank Act is comprised of 16 titles totaling some 2,300 pages. Title VII is the Act’s longest, totaling 444 pages. Now, obviously, the derivatives… Read more »
The House Financial Services Committee will include eight new Republican members when the 113th Congress convenes in January.
"These new members, combined with the expertise of the committee's returning Republicans, give us an outstanding team that will promote solutions for a stronger economy, an end to too big to fail, and smarter regulations that protect consumers without killing… Read more »
As the Senate Banking, Housing and Urban Affairs Committee meets today for a hearing on the fiscal challenges facing the Federal Housing Administration (FHA), bipartisan legislation approved 402-7 in the House to help the FHA meet those challenges awaits Senate action.
The bill approved by the House in September is the FHA Emergency Fiscal Solvency Act sponsored by Chairman Judy… Read more »
Financial Services Committee Chairman Spencer Bachus released the following statement today on the resignation of Securities and Exchange Commission Chairman Mary Schapiro:
“As Chairman of the Financial Services Committee, I have witnessed firsthand Chairman Schapiro’s strong commitment to public service and her thoughtful leadership of the SEC. She served during a very difficult… Read more »
Financial Services Committee Chairman Spencer Bachus on Friday announced the Committee’s hearing schedule for the week of November 26.
The Committee’s schedule remains tentative and will depend upon the availability of witnesses and other factors that may require changes. Therefore, each meeting will become final only when the official notice is distributed. Additional… Read more »
The House Financial Services Subcommittee on Oversight and Investigations, chaired by Rep. Randy Neugebauer, released the full results of its year-long majority staff investigation into the collapse of MF Global on Thursday.
The report chronicles the demise of the 230-year old commodities brokerage firm, which declared bankruptcy in October 2011. MF Global’s failure was the eighth… Read more »
