Press Releases

A Subcommittee hearing on Thursday will examine the emergence of alternative forms of money, or parallel currencies, and the effects they could have on the economy and monetary policy. The Financial Services Domestic Monetary Policy and Technology Subcommittee, chaired by Rep. Ron Paul, will also look at the obstacles to circulation faced by alternative forms of… Read more »

Financial Services Committee Chairman Spencer Bachus on Tuesday made the following comment about a ruling from the Federal Housing Finance Administration (FHFA) against forgiving mortgage principal on Fannie Mae and Freddie Mac mortgages: “The Administration put incredible political pressure on Director DeMarco, and he deserves praise for standing up for the best interests of the… Read more »

Financial Services Committee Chairman Spencer Bachus submitted the following statement for the record at a hearing on the Financial Stability Oversight Council's annual report.  Treasury Secretary Timothy Geithner appeared before the Committee to deliver FSOC's report. "When financial reform was debated by Congress two years ago, Republicans suggested an alternative that… Read more »

Financial Services Committee Chairman Spencer Bachus issued the following statement regarding Wednesday’s report from the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) on AIG’s bailout: “Four years after regulators forced taxpayers to rescue AIG from the brink of failure, we have not seen any progress made on a plan to bring an end to this bailout. Today,… Read more »

The Financial Services Committee has taken note of former Senator Ted Kaufman’s recent tough criticisms of the Dodd-Frank Act. The Committee posted on its blog “The Bottom Line” (found at republicans-financialservices.house.gov) that Kaufman, who voted for Dodd-Frank, now acknowledges the law does not end “too big to fail” as promised, does not end taxpayer bailouts as promised, and… Read more »

The House of Representatives is expected to vote tomorrow on a bill introduced by Rep. Ron Paul, Chairman of the Financial Services Subcommittee on Domestic Monetary Policy and Technology, to authorize a full audit of the Federal Reserve System. H.R. 459 removes existing restrictions on the Government Accountability Office’s ability to fully audit the Fed and calls for an audit to be… Read more »

A subcommittee will mark the 10th anniversary of passage of the Sarbanes-Oxley Act by holding a hearing on Thursday to examine the law’s benefits and burdens on businesses and evaluate the need for reforms. “As we approach the 10-year anniversary of the Sarbanes-Oxley Act, the Capital Markets Subcommittee will examine the impact the law has had on our nation’s public companies and the… Read more »

Financial Services Committee Chairman Spencer Bachus released the following statement on Friday to mark the second anniversary of the Dodd-Frank Act becoming law: “When President Obama signed Dodd-Frank into law two years ago, he promised it would provide ‘certainty to everyone from bankers to farmers to business owners to consumers.’  Today we look at the sad shape of our economy… Read more »

Financial Services Committee Chairman Spencer Bachus will deliver the following statement at today's committee hearing with Federal Reserve Chairman Ben Bernanke on the state of the U.S. economy: "We’re honored to have Federal Reserve Chairman Ben Bernanke before us today.  Thank you, Chairman Bernanke, for appearing before our Committee once again and for your… Read more »

Financial Services Committee Chairman Spencer Bachus on Tuesday announced the Committee’s schedule of upcoming hearings. The Committee’s schedule remains tentative and will depend upon witness availability and other factors that may require changes.  Therefore, each meeting will become final only when the official notice is distributed.  Additional information about each… Read more »