Press Releases

The Financial Services Committee continued its efforts to promote job creation by easing the burden government regulations impose on the private sector with the approval today of three bills that fix derivatives provisions of the Dodd-Frank Act. Since January, the Committee has led efforts to identify and fix job-killing provisions in the Dodd-Frank Act, as well as remove regulatory… Read more »

“The action of the Federal Reserve announced this morning to extend existing bilateral swap arrangements with European and other foreign central banks is a recognition of the interconnected nature of the global economy. Since early 2005, I have stated my concern that the interconnectedness of the global economy makes it necessary for U.S. policymakers to recognize we are not immune from… Read more »

The Financial Services Committee will convene a hearing on Thursday with Federal officials and industry experts to evaluate the financial health of the Federal Housing Administration (FHA), the government agency that insures nearly 40 percent of new home mortgages in the U.S. The hearing comes on the heels of an independent auditor’s report released on November 15 that the FHA may need a… Read more »

The Financial Services Committee released a revised agenda for its markup of legislation on Wednesday, November 30. The Committee will meet at 10 a.m. in room 2128 Rayburn to consider three bills: H.R. 2682, the Business Risk Mitigation and Price Stabilization Act of 2011 H.R. 2779, to exempt inter-affiliate swaps from certain regulatory requirements put in place by the… Read more »

The Financial Services Committee announced its planned schedule for the week of December 12th. The list of Committee hearings and mark ups is tentative and is contingent upon the House of Representatives being in session that week. Witnesses for the hearings will be announced at later dates. Tuesday, December 13: The Capital Markets and Government Sponsored Enterprises Subcommittee… Read more »

Financial Services Committee Chairman Spencer Bachus on Monday announced the Committee’s planned hearing and mark up schedule for the weeks of November 28 and December 5. Witnesses for each hearing will be announced at later dates. Tuesday, November 29:  The Insurance, Housing and Community Opportunity Subcommittee will hold a field hearing in Danville, Virginia on “The State… Read more »

Financial Services Committee Chairman Spencer Bachus announced on Thursday his committee will hold a hearing on H.R. 1148, the STOCK Act, on December 6. “Existing law clearly prohibits insider trading by Members of Congress.  However, the American public deserves for there to be no question or equivocation concerning Members of Congress or any citizen being exempted from laws… Read more »

A bill authored by Financial Services Committee Chairman Spencer Bachus to stop future bonuses at Fannie Mae and Freddie Mac and suspend the current multi-million dollar compensation packages for the top executives was overwhelmingly approved by the Committee. The vote on the bill was 52 to 4. Earlier this month, the Federal Housing Finance Agency announced the CEO of Fannie Mae… Read more »

A bill introduced by Financial Services Committee Chairman Spencer Bachus that would suspend the compensation packages of top executives at Fannie Mae and Freddie Mac will be considered by the Committee on Tuesday. Chairman Bachus introduced the legislation during the 111th Congress and re-introduced the bill in March of this year.  The bill, H.R. 1221, the Equity in Government… Read more »

The Financial Services Committee released its planned events for next week.  All hearings and mark ups will take place in the Financial Services Committee’s main hearing room, 2128 Rayburn. Witnesses for hearings will be announced at later dates. Tuesday, November 15: The Financial Services Committee will consider legislation (H.R. 1221) introduced by Chairman Spencer… Read more »