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Chairman Bachus: Congress Must Take Action To Reform Fannie Mae, Freddie Mac
Mar 31, 2011
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Financial Services Committee Chairman Spencer Bachus made the following statement today during the Capital Markets Subcommittee hearing on legislative proposals to reform Fannie Mae and Freddie Mac. “As recent statistics show, our housing markets remain very fragile. Housing is a tremendously import...
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Hensarling-Bachus Bill Ending Bailout of Fannie Mae and Freddie Mac Introduced in the Senate
Mar 31, 2011
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Financial Services Committee Chairman Spencer Bachus and Committee Vice-Chairman Jeb Hensarling on Thursday joined Senator John McCain and Senator Orrin Hatch to discuss the introduction of the Government Sponsored Enterprise Bailout Elimination and Taxpayer Protection Act in the Senate. The bill, w...
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VIDEO RELEASE: Fixing The Failed Dodd-Frank Act
Mar 30, 2011
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The Dodd-Frank Act will result in a bigger and more expensive Federal government. That’s the point the Financial Services Committee is driving home in a video released on Wednesday. The video, which can be viewed on the Committee’s website and on YouTube, coincides with a hearing of the Oversight an...
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Garrett Announces Subcommittee Hearing On Legislative Proposals For Immediate Reforms Of Fannie, Freddie
Mar 30, 2011
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The Capital Markets and Government Sponsored Enterprises Subcommittee, chaired by Rep. Scott Garrett, will convene for a hearing to examine eight legislative proposals that provide immediate reforms to Fannie Mae and Freddie Mac. At a press conference yesterday, Financial Services Committee Members ...
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Bachus and Capito Invite Warren To Clarify or Correct Her Testimony Regarding CFPB’s Involvement in Mortgage Settlement Process
Mar 30, 2011
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Financial Services Committee Chairman Spencer Bachus and Financial Institutions and Consumer Credit Subcommittee Chairman Shelley Moore Capito are asking Elizabeth Warren, the Obama Administration official charged with setting up the Consumer Financial Protection Bureau, if she wants to clarify or c...
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Statement of Financial Services Committee Chairman Spencer Bachus on Republican Reform Plan for Fannie Mae and Freddie Mac
Mar 29, 2011
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Financial Services Committee Chairman Spencer Bachus released the following statement about the proposals introduced today by several Republicans on the Committee to reform Fannie Mae and Freddie Mac: “In our Pledge to America, House Republicans said: ‘We will reform Fannie Mae and Freddie Mac by en...
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House Votes To Terminate Another Failed Government Program, Prevents $29 Billion In TARP Funds From Being Spent
Mar 29, 2011
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The House of Representatives voted on Tuesday to terminate another failed government program by passing a bill that ends the Administration’s highly criticized Home Affordable Modification Program (HAMP). H.R. 839, introduced by Rep. Patrick McHenry, terminates the troubled program that received TAR...
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Independent Community Bankers Declare Support for Bill to Create Five-Member Commission Over Consumer Financial Protection Bureau
Mar 28, 2011
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The Independent Community Bankers of America is supporting legislation introduced by Financial Services Committee Chairman Spencer Bachus to replace the Director of the Consumer Financial Protection Bureau with a five-member commission. A commission would “build in a system of checks and balances th...
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Biggert Announces Second Subcommittee Hearing On National Flood Insurance Program
Mar 28, 2011
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The Insurance, Housing and Community Opportunity Subcommittee, chaired by Rep. Judy Biggert, will convene to receive testimony from Federal Emergency Management Agency (FEMA) Administrator Craig Fugate on reforming the National Flood Insurance Program (NFIP). This is the second legislative hearing t...
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Chairman Bachus: ‘Cash for Keys’ Yet Another Bad Bailout Idea
Mar 25, 2011
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Financial Services Committee Chairman Spencer Bachus issued the following statement today regarding reports that financial regulators have floated a so-called “cash for keys” program that will reward some borrowers who default on their mortgages with a $20,000 government check. The “cash for keys” p...
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