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Statement by Ranking Member Spencer Bachus Regarding the Fed's proposed HOEPA regulations
Dec 18, 2007
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"Today the Federal Reserve Board released its proposed new regulations under the Home Ownership Equity Protection Act (HOEPA). The regulations complement recent efforts on the part of Congress and the Administration to help struggling homebuyers. Specifically, the proposed regulations include sever...
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Ranking Member Spencer Bachus on the S.E.C. Announcement Regarding Accounting Rules for Smaller Companies
Dec 12, 2007
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Rep. Spencer Bachus, Ranking Member of the House Financial Services Committee, praised S.E.C. Chairman Christopher Cox's decision to delay until 2009 the requirement that small companies report on the state of their internal financial controls. Last week Bachus sent a letter to Chairman Cox asking ...
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Statement by Ranking Member Spencer Bachus responding to Secretary Paulson's speech regarding subprime lending issues
Dec 3, 2007
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"Members of the Financial Services Committee as well as members of the full House share Secretary Paulson's view that we must address the housing finance crisis. Two key elements of a reform plan - FHA and GSE reform legislation - passed the House during both the 109th and 110th Congresses. The Sen...
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Bachus on passage of subprime reform legislation
Nov 15, 2007
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Today House Financial Services Committee Ranking Member Spencer Bachus cosponsored and voted for bipartisan legislation to combat predatory lending practices. H.R. 3915, The "Mortgage Reform and Anti-Predatory Lending Act of 2007," passed the House by a bipartisan vote. "Chairman Frank and I worked...
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Remarks Prepared for Delivery by Ranking Member Spencer T. Bachus On H.R. 2634, the "Jubilee Act for Responsible Lending and Expanded Debt Cancellation of 2007"
Nov 8, 2007
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Thank you, Mr. Chairman, for holding this important hearing on the Jubilee Act, and thanks to Chairman Waters for her leadership on this issue. I have been proud to work with her on debt-reduction and poverty-alleviation legislation for nearly a decade, and I am happy to say these efforts have been...
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Bachus announces support for subprime reform legislation
Nov 5, 2007
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House Financial Services Committee Ranking Member Spencer Bachus has announced his sponsorship of bipartisan legislation to combat predatory lending practices. Bachus will now be a co-sponsor of the manager's amendment to The Mortgage Reform and Anti-Predatory Lending Act of 2007 (H.R. 3915). "The ...
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Statement by Ranking Member Spencer Bachus Regarding Introduction of Democratic Subprime Legislation
Oct 22, 2007
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"Chairman Frank should be commended for introducing legislation to address the current problems in the mortgage market. House Republicans look forward to a vigorous discussion on the Chairman's bill and related proposals. "There is a bipartisan recognition of the need to address the problems associ...
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Statement by Ranking Member Spencer Bachus Regarding Senate action on reauthorizing the Terrorism Risk Insurance Act (TRIA)
Oct 17, 2007
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"The TRIA reauthorization bill passed by the Senate Banking Committee earlier today represents a good deal that protects consumers and taxpayers. "TRIA is necessary to keep our commercial insurance markets functioning well, despite the ongoing threat of terrorism. As an original co-author of TRIA, ...
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Statement by Ranking Member Spencer Bachus in response to GAO report regarding Home Mortgage Default and Foreclosure Trends
Oct 16, 2007
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"Last April, Chairman Frank and I asked the Government Accountability Office to analyze the scope and magnitude of recent default and foreclosure trends. The GAO has completed and released its report on this very important issue. The GAO's data will help us better understand the complexities of the...
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Statement by Ranking Member Spencer Bachus Regarding Subprime Lending Reform
Oct 3, 2007
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"Democratic complaints about a lack of progress on subprime lending reform ring hollow in the face of recent history. "The fact is that Democrats have failed on at least two occasions to move a subprime lending reform bill. On September 28, 2006, I circulated a subprime legislative draft to then-Ra...
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