The Capital Markets and Government Sponsored Enterprises Subcommittee gathered on Friday, June 24th for a hearing titled, "Oversight of the Mutual Fund Industry: Ensuring Market Stability and Investor Confidence". Subcommittee Chairman Scott Garrett stated the intent of the hearing was to “to focus …on different efforts and proposals meant to provide more certainty to… Read more »
The Financial Services Committee today approved the Small Company Capital Formation Act (H.R. 1070) introduced by Rep. David Schweikert.
The bill makes it easier for small businesses to access capital, which will permit greater investment in these companies and will allow them to grow and create new jobs.
“I am extremely pleased that the Financial Services Committee passed my Small… Read more »
The Financial Services Committee approved legislation by Rep. Robert Hurt removing a costly Dodd-Frank Act mandate to allow small businesses easier access to private capital. The Small Business Capital Access and Job Preservation Act (H.R. 1082) exempts private equity fund advisers from having to register with the Securities and Exchange Commission so long as the fund does not… Read more »
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 »
