Press Releases

- In a video released today by House Financial Services Committee Republicans, Democratic Senator Mark Warner calls Chairman Barney Frank out for creating a list of designated financial companies as "systemically significant."   During the same conference meeting on June 17th, Chairman Frank claimed there is no list, while House Republicans argued against such a list, stating… Read more »

  June 17, 2010   - Financial Services Committee Ranking Member Spencer Bachus today expressed disappointment as House Democrats defeated a series of amendments offered by Republicans to put an end to, or even limit, taxpayer-funded bailouts, including those for government sponsored enterprises Fannie Mae and Freddie Mac.  "Even though Democrats in… Read more »

  June 16, 2010   - Financial Services Committee Ranking Member Spencer Bachus today said Congress is long overdue in addressing reform of Fannie Mae and Freddie Mac, the two government-sponsored (and now operated) enterprises that fueled the financial crisis.  Earlier today, the Federal Housing Finance Agency directed Fannie Mae and Freddie Mac, now operating… Read more »

-House Conferees today adopted an amendment offered by Rep. Ed Royce and Ranking Member Spencer Bachus that will restructure the Securities and Exchange Commission (SEC) to improve the ability of the Agency to protect investors. Rep. Ed Royce said, "This amendment is an attempt to hold the SEC more accountable to ensure we have a more competent regulatory body overseeing our… Read more »

- House Financial Services Committee Ranking Member Spencer Bachus today sent a letter signed by the House Republican conferees to Chairman Barney Frank demanding that Democrats release conference rules and procedures and calling for answers to questions pertaining to how business will be conducted before the committee holds the next meeting on June 15. Click here to view the… Read more »

"The only way to make sure that taxpayers are protected from paying for Wall Street's mistakes is bankruptcy, not bailouts." June 9, 2010 - Financial Services Committee Ranking Member Spencer Bachus today offered a Motion to Instruct Conferees on the financial regulatory reform conference, directing the conference to end the "too big to fail" bailouts once… Read more »

- Financial Services Committee Ranking Member Spencer Bachus joined five fellow committee Members to serve as the House Republican conferees appointed to deliberate the House and Senate passed financial regulatory reform bills, and called on Democrats to ensure all negotiations occur in the open. "This upcoming conference will provide an opportunity to highlight the… Read more »

- Financial Services Committee Ranking Member Spencer Bachus today made the following statement regarding the May jobs report that found only 41,000 private sector jobs were created. "The job creation estimates for May are disappointing, especially given the unreliability of Census hiring predictions in 1990 and 2000.  "It is even more disturbing that only… Read more »

- Financial Services Committee Ranking Member Spencer Bachus today released the following statement as the YouCut program announced that reforming Fannie and Freddie is the current leader with 45 percent of the votes cast this week. "It's a telling sign of the failures of financial reform when reforming Fannie Mae and Freddie Mac is pulling in 45 percent of votes online but… Read more »

Bachus Questions The Ability of Democrats To Include New Spending In An Extension Bill May 28, 2010  - Financial Services Committee Ranking Member Spencer Bachus made the following statement regarding the Democrats' so-called tax extenders package that contains $1 billion in funding for the National Housing Trust Fund. The trust fund was included in the Democrats' Government… Read more »