Press Releases

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  • Bachus Statement Regarding SEC's Actions to Examine Industry Controls Against Manipulation
    Jul 13, 2008 - Ranking Member Spencer Bachus (AL) today made the following statement regarding the Securities and Exchange Commission announcement of actions to prevent the spread of false information to manipulate stock prices. "The announcement by the SEC that they and FINRA are undertaking sweep examinations o... More
  • Bachus Statement Regarding GSEs
    Jul 11, 2008 - Ranking Member Spencer Bachus (AL) made the following statement today regarding Fannie Mae and Freddie Mac. Ranking Member Spencer Bachus said, "I have spoken to Secretary Paulson and Director Lockhart as late as this afternoon and they continue to assure me Fannie and Freddie are adequately capita... More
  • Bachus Statement on SEC's Findings Regarding Credit Rating Agencies
    Jul 8, 2008 - Today, Ranking Member Spencer Bachus (AL) made the following statement regarding the Securities and Exchange Commission's results of their examination into the three major credit rating agencies. Ranking Member Bachus said, "This examination report is yet another reminder of the need for increased ... More
  • Bachus Urges Treasury, Fed to Implement UIGEA
    Jun 26, 2008 - Following yesterday's Committee defeat of legislation designed to repeal the Unlawful Internet Gambling Enforcement Act, Ranking Member Spencer Bachus urged Treasury and the Federal Reserve to finalize rules implementing the Act in a letter. Click here for a copy of Ranking Member Bachus's letter. ... More
  • Bachus Statement on Committee Vote to Protect UIGEA
    Jun 25, 2008 - Ranking Member Spencer Bachus (AL) released the following statement regarding the Committee's defeat of legislation to block the implementation of regulations to enforce the Unlawful Internet Gambling Enforcement Act (UIGEA). Ranking Member Bachus said, "Today's vote was a victory for young people ... More
  • Bachus Op-ed: Blocking Web Gambling Rules Would Be Mistake
    Jun 24, 2008 - American Banker After a decade of taking billions of dollars illegally from American consumers, offshore internet gambling interests have spent millions over the last two years on lobbying to overturn the law that would shut them down. Unfortunately, their efforts to recapture illicit profits might... More
  • Bachus Applauds SEC's Decision to Extend SOX Compliance for Small Businesses
    Jun 20, 2008 - Ranking Member Spencer Bachus (AL) released the following statement regarding the Securities and Exchange Commission’s (SEC) approval of a one year extension for small businesses. Ranking Member Bachus said, “I commend the SEC for extending the deadline for small businesses to comply with Section 4... More
  • Bachus Statement Regarding "Operation Malicious Mortgage"
    Jun 20, 2008 - Ranking Member Spencer Bachus (AL) today commented on actions by the Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) to investigate fraud in the mortgage lending industry. Ranking Member Bachus said, “For far too long unscrupulous brokers and lenders have thrived because o... More
  • Republicans Demand Congressional Action Regarding High Energy Prices
    Jun 11, 2008 - Republican Members of the House Financial Services Committee led by Ranking Member Spencer Bachus (AL) today urged the Committee to focus on the rising cost of high energy prices and the burden it creates on our economy. Ranking Member Bachus said, "It is time for Congress and this Committee to foc... More
  • Bachus Statement on SEC's Proposed Rules regarding Credit Ratings
    Jun 11, 2008 - Ranking Member Spencer Bachus (AL) today released the following statement on the Securities and Exchange Commission's (SEC) proposed rules relating to Nationally Recognized Statistical Rating Organizations (NRSROs). "Today's action by the SEC is a vital step to begin restoring confidence in the rat... More