News List

Decisions by Jon Corzine to chart a radically different course for MF Global and try to turn the 230-year-old commodities broker into a full-service investment bank were the cause of the firm’s bankruptcy and failure to protect customer funds, Republican members of a congressional subcommittee will report this week. The House Financial Services Subcommittee on Oversight and… Read more »

The bipartisan JOBS Act, which originated in the Financial Services Committee and was passed by Congress earlier this year, is working to boost the economy.  A report in the Charlotte Observer notes that provisions of the act are helping community banks to trim regulatory costs and save money – money that can be pumped back into local economies, start small businesses and create… Read more »

Financial Services Committee Chairman Spencer Bachus today released “The Dodd-Frank Act, the Persistence of ‘Too Big to Fail,’ and the Institutionalization of Government Bailouts.”  The report is a seven-page analysis prepared by Committee staff that refutes claims made by Dodd-Frank supporters that the 2,300-page law ends “too big to fail” and ends bailouts. The report coincides… Read more »

  Some Washington politicians and supposed media “fact checkers” have been falling over themselves the last few days busily defending the Dodd-Frank Act.  But rather than rely on what the politicians and Beltway pundits think, Republicans on the House Financial Services Committee actually did something quite remarkable by Washington standards:  we asked small town… Read more »

The following article was published this week on the website BankCreditNews.com: Free checking being wiped out by Dodd-Frank’s burden The average required minimum balance for free checking rose to $723 this year, data reported by Bankrate.com showed on Monday. Banks, in response to the economic climate and new regulations like Dodd-Frank and the Durbin Amendment, have been… Read more »

Oversight and Investigations Subcommittee Chairman Randy Neugebauer writes in today's edition of the Wall Street Journal about the lack of transparency and accountability at the Consumer Financial Protection Bureau, a government bureaucracy created by the Dodd-Frank Act: A $447 Million Consumer Alert By Randy Neugebauer Should an unelected Washington bureaucrat be given… Read more »

"The Federal Reserve’s action today is a scathing indictment of this Administration’s economic policies which, after almost four years, have failed to produce a sustainable recovery or put Americans back to work.  The Federal Reserve cannot rescue the Administration from the consequences of failed economic and regulatory policies.  “The President promised us his policies… Read more »

(Bloomberg) -- A panel of U.S. regulators created to monitor financial stability faces challenges in achieving its mission of identifying risks and should improve its transparency, according to a report by the Government Accountability Office. The Dodd-Frank law created the Financial Stability Oversight Council to highlight systemic risk to the economy and enhance cooperation among its… Read more »

(Reuters) - The new U.S. financial risk council should publicly share more details about its closed-door meetings on emerging risks to markets, a congressional watchdog report has found. The Government Accountability Office said the Financial Stability Oversight Council, a group made up of the top U.S. regulators, fails to provide insight, even on information that is not… Read more »

A Financial Services Subcommittee hearing on Tuesday will examine the capacity of the insurance industry to offer terrorism risk insurance without a Federal backstop. The Terrorism Risk Insurance Act (TRIA), a temporary risk sharing program created in 2002 to ensure consumers have access to terrorism insurance, is set to expire at the end of 2014.  Members of the Insurance,… Read more »