Press Releases

An amendment based on legislation first proposed by Financial Services Committee Chairman Spencer Bachus to stop bonuses and limit the pay of Fannie Mae and Freddie Mac executives was approved by the Senate on Thursday.  The two failed mortgage companies had to be bailed out by taxpayers back in 2008 and have received more than $170 billion from the taxpayers since. “The… Read more »

Financial Services Committee Chairman Spencer Bachus released the following statement about the Obama Administration's latest housing plan. "This is not a serious plan to help the nation’s housing market.  This is just more of the same from an administration that offers expensive program after expensive program, none of which have worked to help struggling homeowners. … Read more »

The Financial Institutions and Consumer Credit Subcommittee will meet on Wednesday to review bipartisan legislation that aims to improve the clarity, consistency and fairness of federal regulatory examinations on financial institutions. H.R. 3461, the Financial Institutions Examination Fairness and Reform Act, was introduced by Subcommittee Chairman Shelley Moore Capito and Ranking… Read more »

Financial Services Committee Chairman Spencer Bachus again called on President Obama to urge Senate action on bipartisan bills that will create jobs.  “Today President Obama called on Congress to send him bipartisan legislation that increases access to capital for entrepreneurs and small businesses.  Mr. President, we’re trying to but the Democrat-controlled Senate is… Read more »

A congressional subcommittee on Thursday will continue its investigation into the collapse of MF Global and how $1.2 billion of the firm’s customer funds went missing. This will be the second hearing the Financial Services Committee’s Oversight and Investigations Subcommittee has held on MF Global.  The Subcommittee began its investigation shortly after the failed brokerage firm… Read more »

Republican leaders of the House Financial Services Committee are seeking assurances from the Obama Administration that U.S. taxpayers will not bear the burden of bailing out debt-ridden European governments. In a letter sent Wednesday to Treasury Secretary Timothy Geithner, Chairman Spencer Bachus, Vice Chairman Jeb Hensarling and the chairmen of the Committee’s six subcommittees ask for… Read more »

Financial Services Committee Chairman Spencer Bachus on Wednesday announced the Committee’s schedule for the first two weeks of February. All Committee activity will take place in room 2128 Rayburn House Office Building.  Witnesses for the hearings will be announced at later dates. Wednesday, February 1:  The Subcommittee on Insurance, Housing and Community Opportunity… Read more »

During his State of the Union address next week, President Obama should call on the Senate to pass legislation that helps small businesses access capital so they can create jobs, said Financial Services Committee Chairman Spencer Bachus. Four bills that originated in the Financial Services Committee and later passed the House would make it easier for small businesses to access capital,… Read more »

Financial Services Committee Chairman Spencer Bachus announced two changes to the committee’s staff leadership on Friday. Larry Lavender is leaving his position as Chief of Staff for the Financial Services Committee to manage the primary re-election campaign of Chairman Bachus and then later join the Washington, DC office of the law firm Jones Walker.  Lavender has served as the… Read more »

Alabama will receive $55 million in disaster relief funding to help achieve long-term recovery, restore housing and infrastructure, and promote economic revitalization, said Financial Services Committee Chairman Spencer Bachus. The Department of Housing and Urban Development (HUD) will provide community development block grant (CDBG) funding to the city of Tuscaloosa in the amount of… Read more »