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Committee Acts To Eliminate Provision In Dodd-Frank That Shut Down Segment Of Economy
Jul 20, 2011
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During a markup today, the Financial Services Committee continued its effort to eliminate some of the job destroying provisions in the Dodd-Frank Act. In approving H.R. 1539, introduced by Rep. Steve Stivers, the Committee repealed Section 939G of the Dodd-Frank Act, which completely shut down the a...
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Dodd-Frank Act Receives Failing Grades on Promises
Jul 15, 2011
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Report Card Issued to Mark First Year of Failures When Democrats passed the Dodd-Frank Act a year ago, among the promises they made were that the 2,300-page bill and its 400 new rules would strengthen the economy, stabilize the housing market, end “too big to fail” and streamline the regulatory proc...
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Chairman Bachus Delivers Statement At Hearing On Monetary Policy Report
Jul 13, 2011
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WASHINGTON -Financial Services Committee Chairman Spencer Bachus made the following statement during the hearing on the Federal Reserve's monetary policy report to the Congress. "Chairman Bernanke, welcome back to the Committee. "Thank you for your service to our country during these challenging tim...
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GAO Report Confirms Concerns that Dodd-Frank Puts U.S. Firms at Disadvantage Globally
Jul 13, 2011
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WASHINGTON -Financial Services Committee Chairman Spencer Bachus said a report released today by the Government Accountability Office (GAO) backs up concerns that provisions of the Dodd-Frank Act put U.S. firms at a competitive disadvantage in the global economy. “The GAO report confirms that neithe...
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Data Security at the Office of Financial Research to Be Focus of Oversight Subcommittee Hearing
Jul 13, 2011
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The Oversight and Investigations Subcommittee on Thursday will hold a hearing on the new Office of Financial Research (OFR) and pay particular attention to the data security risks inherent with OFR’s mission of collecting sensitive, private financial information. The Office of Financial Research, cr...
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Subcommittee To Evaluate Mortgage Origination Law Impact On Funding, Private Sector Participation
Jul 12, 2011
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WASHINGTON -Continuing the Financial Services Committee’s ongoing efforts to thoroughly review government policies and regulations, the Insurance, Housing and Community Opportunity Subcommittee will meet for a hearing to evaluate recent changes to mortgage origination laws. The Subcommittee hearing ...
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Reducing Fannie And Freddie’s Role In Mortgage Market Approved By Subcommittee
Jul 12, 2011
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WASHINGTON - The Capital Markets and Government Sponsored Enterprises Subcommittee approved legislation today sponsored by Rep. Robert Hurt to reduce the government’s role in the mortgage market. The Market Transparency and Taxpayer Protection Act directs the Federal Housing Finance Agency (FHFA) Di...
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House Overwhelmingly Approves Reforms, Reauthorization of National Flood Insurance Program
Jul 12, 2011
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WASHINGTON - The U.S. House of Representatives today overwhelmingly approved legislation to reauthorize and significantly reform the National Flood Insurance Program (NFIP). The reforms included in the legislation will ensure the continued economic viability of the NFIP by eliminating unnecessary fe...
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Second Round Of Bills Reforming Fannie, Freddie Approved By Subcommittee
Jul 12, 2011
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WASHINGTON - In continuing the Committee’s efforts to end the bailout of Fannie Mae and Freddie Mac, the Capital Markets and Government Sponsored Enterprises Subcommittee considered and advanced six proposals today to protect taxpayers by reforming Fannie Mae and Freddie Mac. Financial Services Comm...
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Financial Services Committee Chairman Spencer Bachus Comments on Latest Abysmal Jobs Report
Jul 8, 2011
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House Financial Services Committee Chairman Spencer Bachus today issued the following statement after the U.S. Labor Department reported that only 18,000 jobs were created in June and that the unemployment rate increased to 9.2 percent: “The trend in recent jobs reports is disheartening and unmistak...
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