Press Releases

Capital Markets Subcommittee Chairman Scott Garrett announced a Subcommittee hearing to conduct oversight of the Securities and Exchange Commission (SEC)  and review the agency’s budget request for Fiscal Year 2012. The hearing will take place on Thursday, March 10 at 10 am in room 2128 Rayburn. Subcommittee Chairman Garrett said, “It will be instructive for members of the… Read more »

The Financial Services Committee, chaired by Congressman Spencer Bachus, approved bills that terminate two failed and ineffective federal foreclosure programs and cancel their $9 billion in funding. Chairman Bachus said, “We should not waste taxpayer dollars on failed government programs that do not work and actually make things worse for struggling homeowners.  These programs may… Read more »

Financial Services Committee Chairman Spencer Bachus made the following statement during a Full Committee hearing on the Federal Reserve’s semi-annual monetary policy report.   “Chairman Bernanke, welcome and thank you for your testimony today.   “Although the National Bureau of Economic Research declared the recession ended in June 2009 -- some 21 months ago -- the economy… Read more »

Insurance, Housing and Community Opportunity Subcommittee Chairman Judy Biggert announced the witnesses who will testify at a legislative hearing on bills to terminate failed and ineffective housing foreclosure programs. The Subcommittee hearing will take place on Wednesday, March 2nd at 2 pm in room 2220 Rayburn. The bills would terminate the Home Affordable Modification Program… Read more »

Financial Services Committee Chairman Spencer Bachus made the following statement during a Full Committee hearing to review the Administration’s report on housing finance. “The collapse of Fannie Mae and Freddie Mac in 2008 helped trigger a financial crisis from which our economy is still trying to recover.  A toxic combination of implicit government guarantees, lax underwriting… Read more »

Financial Institutions Subcommittee Chairman Shelley Moore Capito announced today the Subcommittee will convene a hearing to examine the impact of the Dodd-Frank Act on small financial institutions and small businesses. The hearing will take place on Wednesday, March 2nd at 2 pm in room 2128 Rayburn. Subcommittee Chairman Capito said, “When the House and Senate passed the Dodd-Frank Act,… Read more »

Financial Services Committee Chairman Spencer Bachus announced a subcommittee hearing and full committee markup of four bills that will terminate failed and ineffective housing foreclosure programs. The four proposals – which terminate the troubled Home Affordable Modification Program (HAMP), the Neighborhood Stabilization Program, the FHA Refinance Program, and the Emergency Homeowner… Read more »

Financial Services Committee Chairman Spencer Bachus today announced the Committee will convene a hearing on the Department of Housing and Urban Development’s budget request for Fiscal Year 2012.  Secretary Shaun Donovan will be the hearing’s only witness.  The hearing will take place on Tuesday, March 1st at 2 pm in room 2128 Rayburn.   Chairman Bachus said, “America… Read more »

Financial Services Committee Chairman Spencer Bachus today announced the Committee will convene a hearing with Treasury Secretary Timothy Geithner to review the Obama Administration’s report on housing finance. The hearing will be held on Tuesday, March 1st at 10 am in room 2128 Rayburn. Chairman Bachus said, “Bringing a real end to the bailout of Fannie Mae and Freddie Mac is one of… Read more »

:   Financial Services Committee Chairman Spencer Bachus today announced the committee’s planned hearing schedule for March 2011.   Chairman Bachus said, “The Committee will continue our efforts to promote economic recovery and job creation.  We are committed to ensuring government policies promote, rather than hinder, a stronger economy and more jobs. … Read more »