Subcommittee on Financial Institutions

Financial Services Committee Chairman Spencer Bachus made the following comments on Monday after receiving a letter from Elizabeth Warren concerning her now-confirmed “active” participation in ongoing mortgage settlement talks.   “Professor Warren’s clarification of her role in these talks is welcomed. Whereas she had previously resisted calling herself a participant, we now… Read more »

Financial Services Committee Chairman Spencer Bachus and Financial Institutions and Consumer Credit Subcommittee Chairman Shelley Moore Capito are asking Elizabeth Warren, the Obama Administration official charged with setting up the Consumer Financial Protection Bureau, if she wants to clarify or correct her recent testimony regarding the Bureau’s role in the ongoing mortgage servicing… Read more »

The Independent Community Bankers of America is supporting legislation introduced by Financial Services Committee Chairman Spencer Bachus to replace the Director of the Consumer Financial Protection Bureau with a five-member commission.   A commission would “build in a system of checks and balances that a single director form of governance simply can’t do,” ICBA President and CEO… Read more »

Appearing on CNBC today, Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau Elizabeth Warren attempted to push back against criticism that the new agency she is currently leading is “too powerful.”  Unfortunately, in doing so, she made incorrect statements.  The Financial Services Committee presents the… Read more »

The consumer finance czar answers to no one and sets her own budget. A House subcommittee will hold an "oversight" hearing today on the new Consumer Financial Protection Bureau, the über-regulator that will soon have jurisdiction over most of the country's credit-making institutions. We put "oversight" in quotes because Congress has little say over either the new bureau or its unofficial… Read more »

Financial Services Committee Chairman Spencer Bachus today appointed Rep. Michael Grimm (NY) to serve on the Financial Institutions and Consumer Credit Subcommittee. Chairman Bachus said, “Michael has only been in Congress for two months and already he has proven to have the expertise and leadership skills to effectively contribute to the issues the Committee will tackle. Michael has… Read more »

Financial Institutions and Consumer Credit Subcommittee Chairman Shelley Moore Capito announced the Subcommittee will question Assistant to the President and Advisor to the Treasury Secretary Elizabeth Warren during its hearing on the new Consumer Financial Protection Bureau (CFPB) on Wednesday, March 16 at 10 a.m. in room 2128 Rayburn. Subcommittee Chairman Capito said, “The… Read more »

The unchecked, unelected, unaccountable Elizabeth Warren. Fred Barnes The Consumer Financial Protection Bureau (CFPB) is forgotten but not gone. It’s housed, quietly and temporarily, in the Treasury Department as it prepares to become an official, stand-alone federal agency on July 21. The CFPB is hiring. It already has an acting director, an enforcement chief, and a growing… Read more »

Financial Institutions Subcommittee Chairman Shelley Moore Capito announced today the Subcommittee will convene a hearing to examine the impact of the Dodd-Frank Act on small financial institutions and small businesses. The hearing will take place on Wednesday, March 2nd at 2 pm in room 2128 Rayburn. Subcommittee Chairman Capito said, “When the House and Senate passed the Dodd-Frank Act,… Read more »

Published: Wednesday, 15 Sep 2010 | 8:30 AM ET  CNBC As we mark the second anniversary of the Lehman bankruptcy and the AIG bailout, I am reminded of a joke that economists tell about themselves that goes something like this:   A physicist, a chemist and an economist are stranded on an island, with nothing to eat. A can of soup washes ashore. The physicist says,… Read more »