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Subcommittee Investigation Reveals Decisions by Corzine Led to MF Global Bankruptcy and Missing Customer Funds
Nov 14, 2012
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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 ...
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JOBS Act is Working to Boost Economy
Oct 22, 2012
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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...
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Chairman Bachus Releases Committee Analysis on Dodd-Frank Act’s Perpetuation of “Too Big to Fail” and Bailouts
Oct 17, 2012
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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 ...
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We Listened: What Small Banks and Small Businesses Are Saying About the Dodd-Frank Act
Oct 10, 2012
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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 somethin...
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Free checking being wiped out by Dodd-Frank’s burden
Oct 4, 2012
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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 clim...
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Wall Street Journal: A $447 Million Consumer Alert
Sep 20, 2012
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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 Aler...
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Financial Services Committee Chairman Spencer Bachus Reacts to Today’s Action by the Federal Reserve
Sep 13, 2012
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"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 ec...
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U.S. Financial Rules Panel Should Improve Transparency, GAO Says
Sep 13, 2012
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(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 Overs...
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U.S. financial risk council could use more sunlight: GAO
Sep 13, 2012
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(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...
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Hearing To Examine Ways To Facilitate A Private Terrorism Risk Insurance Marketplace
Sep 6, 2012
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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 terroris...
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