Continuing the Financial Services Committee’s efforts to identify and fix government policies standing in the way of job creation and economic growth, the Committee today approved a bill sponsored by Rep. Nan Hayworth to help companies utilize their resources for new jobs and investment.
The Burdensome Data Collection Relief Act (H.R. 1062) repeals a costly requirement the Dodd-Frank Act… Read more »
The Financial Services Committee on Wednesday will consider legislation to establish a framework that allows U.S. financial institutions to issue covered bonds.
Covered bonds, seen by many as a vital alternative to the securitization model, have been used in Europe for centuries to finance mortgages and public sector loans. Covered bonds are a form of debt in which specific assets –… Read more »
FHFA Must Implement Reforms Suggested By Inspector General Report Says Bachus
Financial Services Committee Chairman Spencer Bachus made the following statement regarding a report released today by the Inspector General of the Federal Housing Finance Agency (FHFA) which found the FHFA lacks assurance that complaints regarding the operations of Fannie Mae and Freddie Mac, including those… Read more »
Three national real estate groups voiced support for H.R.940, the U.S. Covered Bond Act, on Tuesday. Introduced by Congressman Scott Garrett, H.R. 940 would create a legislative framework to allow U.S. financial institutions to issue covered bonds. Covered bonds are a form of debt in which specific assets – typically loans – are pooled for the benefit of bondholders. A joint letter… Read more »
Mortgage guarantees made by Fannie Mae and Freddie Mac in the coming decade are expected to cost the government another $42 billion, the Congressional Budget Office said Thursday.
The mortgage giants were seized by regulators and placed into a federal conservatorship in September 2008 as housing prices tumbled nationwide and foreclosures climbed.
Through the end of March, the government… Read more »
Continuing the Committee’s focus on promoting job creation, improving the economy and reforming the nation’s housing system, Financial Services Committee Chairman Spencer Bachus announced the planned Committee schedule for the remainder of June.
From the start of the 112th Congress, under Chairman Bachus’ leadership, the Committee has focused on promoting policies that… Read more »
John Solomon, a former Associated Press reporter who is now at the Center for Public Integrity, recently wrote about an issue for the Daily Beast that deserves more attention than it gets:
Over the last two years, the Obama administration has approved a
whopping $34.4 million in compensation to the top six executives of
the financially troubled Fannie Mae and Freddie Mac… Read more »
The Obama administration's approval of $34.4 million for six top officials, with little or no market guidance, is raising new questions about the inner workings of the failing mortgage giants. John Solomon and Julie Vorman, of the Center for Public Integrity's iWatch News, report. Read more »
The Financial Services Committee, chaired by Rep. Spencer Bachus, approved legislation today to give regulators additional time to write and review the rules governing derivatives. H.R. 1573, approved by a vote of 30 to 24, addresses concerns raised by both Republicans and Democrats that the proposed Dodd-Frank rules governing derivatives could put U.S. firms at a competitive… Read more »
Financial Services Committee Chairman Spencer Bachus made the following statement today during consideration of H.R. 1573, legislation to restore order to the Dodd-Frank derivatives rulemaking process, promote regulatory coordination, and ensure the U.S. economy is not placed at a competitive disadvantage with other countries
“The Committee meets this morning to markup important… Read more »
