The Dodd-Frank Act will result in a bigger and more expensive Federal government.
That’s the point the Financial Services Committee is driving home in a video released on Wednesday. The video, which can be viewed on the Committee’s website and on YouTube, coincides with a hearing of the Oversight and Investigations Subcommittee on the budgetary and economic costs of… Read more »
Financial Services Committee Chairman Spencer Bachus released the following statement about the proposals introduced today by several Republicans on the Committee to reform Fannie Mae and Freddie Mac:
“In our Pledge to America, House Republicans said: ‘We will reform Fannie Mae and Freddie Mac by ending their government takeover, shrinking their portfolios, and establishing… Read more »
The House of Representatives voted on Tuesday to terminate another failed government program by passing a bill that ends the Administration’s highly criticized Home Affordable Modification Program (HAMP). H.R. 839, introduced by Rep. Patrick McHenry, terminates the troubled program that received TARP funds while preserving the contracts made prior to the bill’s enactment. The… Read more »
Financial Services Committee Chairman Spencer Bachus today announced the planned schedule for the month of April.
Chairman Bachus said: "We continue to focus on solutions that protect taxpayers, encourage economic activity, and promote job creation in the private sector. In April, the Committee will begin consideration of bills to reform regulation of the housing finance system,… Read more »
Financial Services Committee Chairman Spencer Bachus made the following statement during a Subcommittee hearing on the Consumer Financial Protection Bureau.
“The Consumer Financial Protection Bureau was the crown jewel of the 2,300-page Dodd-Frank Act that President Obama signed into law last July. This new bureaucracy, which will be headed by one person, a director as opposed to… Read more »
Financial Services Committee Chairman Spencer Bachus today introduced legislation that will facilitate robust consumer financial protection. “The Responsible Consumer Financial Protection Regulations Act” establishes a bipartisan commission of five members at the Consumer Financial Protection Bureau (CFPB).
Chairman Bachus said, “It always seemed clear to me that the Dodd-Frank Act put… Read more »
The Financial Services Committee, chaired by Congressman Spencer Bachus, approved legislation on Wednesday that ends two ineffective government spending programs. The bills, which terminate the troubled Home Affordable Modification Program (HAMP) and the Neighborhood Stabilization Program (NSP), prevent more than $30 billion in additional spending on the programs.
Approval by the… Read more »
The Financial Services Committee, chaired by Congressman Spencer Bachus, approved bills that terminate two failed and ineffective federal foreclosure programs and cancel their $9 billion in funding.
Chairman Bachus said, “We should not waste taxpayer dollars on failed government programs that do not work and actually make things worse for struggling homeowners. These programs may… Read more »
Financial Services Committee Chairman Spencer Bachus made the following statement during a Full Committee hearing on the Federal Reserve’s semi-annual monetary policy report.
“Chairman Bernanke, welcome and thank you for your testimony today.
“Although the National Bureau of Economic Research declared the recession ended in June 2009 -- some 21 months ago -- the economy… Read more »
Financial Services Committee Chairman Spencer Bachus made the following statement during a Full Committee hearing to review the Administration’s report on housing finance.
“The collapse of Fannie Mae and Freddie Mac in 2008 helped trigger a financial crisis from which our economy is still trying to recover. A toxic combination of implicit government guarantees, lax underwriting… Read more »
