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 »
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 »
