News List

Chairman Spencer Bachus announced that Federal Reserve Chairman Ben Bernanke will appear before the House Financial Services Committee to deliver the semi-annual monetary policy report to Congress on Wednesday, February 29 at 10 a.m. The Federal Reserve reports to the House Financial Services Committee and the Senate Banking Committee twice a year on the conduct of monetary policy and… Read more »

The Insurance, Housing and Community Opportunity Subcommittee approved a bill today providing the Federal Housing Administration (FHA) with the tools it needs to shore up the health of the FHA mortgage insurance fund. The FHA currently insures more than $1 trillion worth of mortgages on more than 7 million loans.  An independent auditor’s report released last year found that… Read more »

Members of the Financial Services Committee continue advancing reforms that will bring much-needed accountability and oversight to the Consumer Financial Protection Bureau, a massive new government bureaucracy created by the Dodd-Frank Act. On Wednesday, the Financial Institutions and Consumer Credit Subcommittee will hold a hearing on three CFPB reform bills.  Last year, the… Read more »

The Washington Times Monday, February 6, 2012 Though Fannie Mae and Freddie Mac sparked the housing collapse that crippled the economy, President Obama now wants them to play an even greater role. The president on Wednesday announced his "blueprint for an America built to last," which would have the government-backed mortgage giants underwrite more loans. "We need to do everything in… Read more »

By Rep. Lynn Westmoreland On Wednesday, the House Financial Services Committee held a hearing on H.R. 3461, a bill to improve the examination of depository institutions, and featured testimony from representatives from the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Federal Reserve Board, and the National Credit Union… Read more »

An amendment based on legislation first proposed by Financial Services Committee Chairman Spencer Bachus to stop bonuses and limit the pay of Fannie Mae and Freddie Mac executives was approved by the Senate on Thursday.  The two failed mortgage companies had to be bailed out by taxpayers back in 2008 and have received more than $170 billion from the taxpayers since. “The… Read more »

Financial Services Committee Chairman Spencer Bachus released the following statement about the Obama Administration's latest housing plan. "This is not a serious plan to help the nation’s housing market.  This is just more of the same from an administration that offers expensive program after expensive program, none of which have worked to help struggling homeowners. … Read more »

The Financial Institutions and Consumer Credit Subcommittee will meet on Wednesday to review bipartisan legislation that aims to improve the clarity, consistency and fairness of federal regulatory examinations on financial institutions. H.R. 3461, the Financial Institutions Examination Fairness and Reform Act, was introduced by Subcommittee Chairman Shelley Moore Capito and Ranking… Read more »

Financial Services Committee Chairman Spencer Bachus again called on President Obama to urge Senate action on bipartisan bills that will create jobs.  “Today President Obama called on Congress to send him bipartisan legislation that increases access to capital for entrepreneurs and small businesses.  Mr. President, we’re trying to but the Democrat-controlled Senate is… Read more »

A congressional subcommittee on Thursday will continue its investigation into the collapse of MF Global and how $1.2 billion of the firm’s customer funds went missing. This will be the second hearing the Financial Services Committee’s Oversight and Investigations Subcommittee has held on MF Global.  The Subcommittee began its investigation shortly after the failed brokerage firm… Read more »