News List

  • H.R. 1539, the Asset-Backed Market Stabilization Act
    Apr 26, 2011 - The Dodd-Frank Act included a liability provision for credit rating agencies if their ratings were determined to be inaccurate. Within days of the Dodd-Frank Act becoming law, this liability provision temporarily shut down the asset-backed securities market, forcing the Securities and Exchange Commi... More
  • H.R. 1082, the Small Business Capital Access and Job Preservation Act
    Apr 26, 2011 - The Financial Services Committee has received testimony regarding the role private equity firms play in preserving existing jobs and creating new ones by providing capital to struggling and growing companies. The Dodd-Frank Act requires most advisers to private investment funds to register with the ... More
  • H.R. 1610, the Business Risk Mitigation and Price Stabilization Act
    Apr 26, 2011 - The Dodd-Frank Act requires derivatives transactions to be cleared through a registered clearing house, and exempts swaps and security based swaps from this clearing requirement if one of the counterparties is not a financial entity. The Business Risk Mitigation and Price Stabilization Act exempts t... More
  • H.R. 1573
    Apr 26, 2011 - 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... More
  • H.R. 1121, the Responsible Consumer Financial Protection Regulations Act
    Apr 26, 2011 - 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 Commiss... More
  • H.R. 1315, the Consumer Financial Protection Safety and Soundness Improvement Act
    Apr 26, 2011 - 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 Stabilit... More
  • H.R. 1182, the GSE Bailout Elimination and Taxpayer Protection Act
    Apr 26, 2011 - H.R. 1182 ends the taxpayer-funded bailouts of Fannie Mae and Freddie Mac and put these two companies on a path towards privatization. The failures of the two government-sponsored enterprises (GSEs) have directly cost taxpayers more than $150 billion. H.R. 1182 is sponsored by Rep. Jeb Hensarling. More
  • Chairman Bachus: Speed of Dodd-Frank Rules “No Excuse” to Limit Public Comment
    Apr 19, 2011 - WASHINGTON-- Financial Services Committee Chairman Spencer Bachus issued the following comment in response to Deputy Treasury Secretary Neal Wolin’s defense of the rapid pace of the Dodd-Frank Act rulemaking process. In early March, all Republican members of the Committee wrote to regulators to expr... More
  • Chairman Bachus Comments on Indictments of Internet Casino Operators
    Apr 15, 2011 - 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 op... More
  • Key House Lawmakers Introduce Bill to Extend Deadline for Derivatives Title of Dodd-Frank
    Apr 15, 2011 - U.S. 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 regul... More