Full Committee

The Financial Institutions and Consumer Credit Subcommittee met outside the Washington, D.C. beltway on Tuesday to ask community bankers and regulators if overly stringent federal bank examination standards are impeding an economic recovery. Read more »

Financial Services Committee Chairman Spencer Bachus announced the Committee’s planned schedule for the weeks of May 23 and May 30. The schedule shows the Committee will continue focusing on policies that encourage economic growth and job creation.   “Promoting policies that will strengthen our economy and create jobs remains our Committee’s top priority,” said Chairman… Read more »

WASHINGTON – Attacks from Democrats claiming a bipartisan commission to oversee the Consumer Financial Protection Bureau (CFPB) is somehow “anti-consumer” ring hollow in light of the record.  Until recently, many of these same Democrats supported, proposed and voted for exactly such a commission.  Below is a timeline showing the evolution of Democratic support for a… Read more »

Representatives Spencer Bachus (R-AL), Frank Lucas (R-OK), K. Michael Conaway (R-TX), and Scott Garrett (R-NJ) introduced H.R. 1573, which would extend the deadline by 18 months for implementing Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill gives the regulatory agencies more time to effectively meet the objectives of the derivatives title, to… Read more »

The Responsible Consumer Financial Protection Regulations Act establishes a bipartisan commission of five members at the Consumer Financial Protection Bureau (CFPB). H.R. 1121, introduced by Chairman Spencer Bachus facilitates robust consumer financial protection by empanelling a  five-member Commission to carry out all of the duties that would otherwise fall to the… Read more »

The expansive powers given to the CFPB to write rules will have far-reaching implications. Yet, the Dodd-Frank Act makes the CFPB’s judgments essentially unreviewable. The Dodd-Frank Act did include a review process, but the process is essentially meaningless . The Act allows the Financial Stability Over-sight Council to review rulemaking by the CFPB, but it must meet virtually… Read more »

Financial Services Committee Chairman Spencer Bachus, who co-authored the Unlawful Internet Gambling Enforcement Act which passed in 2006, issued the following statement on Friday about the indictments of some of the largest Internet casinos and their operators.   “Off-shore Internet gambling sites operating in the United States are all illegal and therefore, by definition, are… Read more »

  WASHINGTON:   Financial Services Committee Chairman Spencer Bachus today announced the committee’s planned hearing schedule for May 2011. The May hearing and markup schedule builds upon the Committee’s efforts to thoroughly review government policies, programs and regulations and assess their impact on economic activity, job creation, and capital formation.  During the… Read more »

A stunning development today in the ongoing controversy over whether someone on Capitol Hill is pretending to be Barney Frank. Financial Services Committee Chairman Spencer Bachus announced a videotape of the apparent impersonator has surfaced.  Chairman Bachus on Thursday made the videotape available to the press. Although Rep. Frank did not express concerns about a possible… Read more »

Financial Services Committee Chairman Spencer Bachus issued this statement about someone impersonating Ranking Member Barney Frank:   “There certainly does need to be an investigation into who is impersonating Barney Frank because someone who looks and sounds exactly like him said on June 29, 2010, and this is verbatim: ‘I believe we will need a technical corrections bill that… Read more »