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Chairman Bachus: Tsunami of Regulatory Mandates Could Push Jobs “Right Out of the Country”

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WASHINGTON – Financial Services Committee Chairman Spencer Bachus made the following statement today during a Full Committee hearing to examine the international implications of the Dodd-Frank Act on U.S. economic competitiveness: “When President Obama signed the Dodd-Frank Act into law last summer, he set in motion the most ambitious changes to financial institution regulation since…

Financial Services Committee to Examine Impact of Dodd-Frank Regulations on Jobs and U.S. Competitiveness

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WASHINGTON -- The Financial Services Committee will examine the international implications of the Dodd-Frank Act on U.S. economic competitiveness during a hearing on Thursday. “There is a widespread and growing concern that the Dodd-Frank Act with its 400 new regulations will lead to industry, capital and jobs leaving the United States.  This is a concern that many of us on the…

Financial Services Committee Hearing in Alabama Will Focus on Cybercrime Threat

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The Financial Services Committee, chaired by Rep. Spencer Bachus, will hold a hearing on June 29 at the National Computer Forensics Institute in Hoover, Alabama on the threat cybercriminals pose to individuals and financial institutions. The National Computer Forensics Institute trains law enforcement officers from across the country on how to detect, prevent and prosecute cyber…

Chairman Bachus: Jobs Are Top Concern as Committee Readies To Receive Treasury’s Report On International Financial System

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The Financial Services Committee, chaired by Rep. Spencer Bachus, will receive testimony from Treasury Secretary Timothy Geithner on the state of the international financial system at a hearing on Wednesday, June 15 at 10 a.m. in room 2128 Rayburn. Financial Services Committee Chairman Spencer Bachus said, “The Dodd-Frank Act has injected uncertainty into our financial system and…

Chairman Bachus: “HUD Must Ensure Every Dollar Dedicated to Affordable Housing is Used Responsibly and Any Misused or Misappropriated Funds Are Promptly Repaid”

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Financial Services Committee Chairman Spencer Bachus delivered the following statement today at a full committee hearing on HUD’s management of the Home Investment Partnerships Program:   “The HOME Investment Partnerships Program is the federal government’s largest housing construction program for the poor.  Administered by the Department of Housing and Urban Development, it…

Bachus: Weak Job Report Underscores Importance Of Committee’s Work

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Continuing the Committee’s focus on promoting job creation, improving the economy and reforming the nation’s housing system, Financial Services Committee Chairman Spencer Bachus announced the planned Committee schedule for the remainder of June.    From the start of the 112th Congress, under Chairman Bachus’ leadership, the Committee has focused on promoting policies that…

Subcommittee Approves Bill To Promote American Jobs Through Exports

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The International Monetary Policy and Trade Subcommittee, chaired by Rep. Gary G. Miller, today unanimously approved legislation to help U.S. companies create jobs by reauthorizing the Export–Import Bank for four years.  The Securing American Jobs Through Exports Act supports the exporting of U.S. goods and services while instituting new transparency measures to protect taxpayer…

Chairman Spencer Bachus Statement on House Republican Meeting with President Obama

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Financial Services Committee Chairman Spencer Bachus made the following statement after meeting with President Obama and House Republicans at the White House this morning to discuss deficit reduction:  “Several times during the meeting today, the President said he will not submit a plan to reduce the deficit that could be verified by the Congressional Budget Office. …

Chairman Bachus Statement On Federal Reserve Data Disclosure

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Financial Services Committee Chairman Spencer Bachus released the following statement regarding the Domestic Monetary Policy Subcommittee hearing on the Federal Reserve data disclosure. “This is an important hearing on the use of the Federal Reserve’s emergency lending facilities during the financial crisis.  This hearing touches on an important issue: balancing the independence…

Paul: Subcommittee To Explore Fed Data Dump

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Domestic Monetary Policy and Technology Subcommittee Chairman Ron Paul announced today the Subcommittee will hold a hearing entitled, “Federal Reserve Lending Disclosure: FOIA, Dodd-Frank, and the Data Dump.”   The hearing will explore the information disclosed by the Federal Reserve in compliance with the Dodd-Frank Act and the Freedom of Information Act regarding its emergency…