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Chairman Bachus: ‘Cash for Keys’ Yet Another Bad Bailout Idea
Mar 25, 2011
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Financial Services Committee Chairman Spencer Bachus issued the following statement today regarding reports that financial regulators have floated a so-called “cash for keys” program that will reward some borrowers who default on their mortgages with a $20,000 government check. The “cash for keys” p...
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Neugebauer Announces Subcommittee Hearing To Review Economic And Budgetary Costs of Dodd-Frank Implementation
Mar 24, 2011
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The Oversight and Investigations Subcommittee, chaired by Rep. Randy Neugebauer, will hold a hearing to examine the costs and economic impact associated with implementing the Dodd-Frank Act. The hearing will take place on Wednesday, March 30 at 2 p.m. in room 2128 Rayburn. Subcommittee Chairman Neug...
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Administration Could Help Small Business Gain Access to Capital by Helping Pass the Small Company Capital Formation Act
Mar 22, 2011
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Financial Services Committee Chairman Spencer Bachus commended the Treasury Department for convening today’s conference on “Access to Capital” since small businesses are essential to a growing economy. “Small businesses generate the ideas and innovation necessary to grow and sustain a robust economy...
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FACT CHECK on Elizabeth Warren’s “Powerful Restraints”
Mar 22, 2011
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Appearing on CNBC today, Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau Elizabeth Warren attempted to push back against criticism that the new agency she is currently leading is “too powerful.” Unfortunately, in doing so, s...
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Chairman Bachus Announces Committee Schedule
Mar 18, 2011
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Financial Services Committee Chairman Spencer Bachus today announced the planned schedule for the month of April. Chairman Bachus said: "We continue to focus on solutions that protect taxpayers, encourage economic activity, and promote job creation in the private sector. In April, the Committee will...
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ICYMI: WSJ Editorial: President Warren's Empire
Mar 16, 2011
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The consumer finance czar answers to no one and sets her own budget. A House subcommittee will hold an "oversight" hearing today on the new Consumer Financial Protection Bureau, the über-regulator that will soon have jurisdiction over most of the country's credit-making institutions. We put "oversig...
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Chairman Bachus Statement During Oversight Hearing on Consumer Financial Protection Bureau
Mar 16, 2011
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Financial Services Committee Chairman Spencer Bachus made the following statement during a Subcommittee hearing on the Consumer Financial Protection Bureau. “The Consumer Financial Protection Bureau was the crown jewel of the 2,300-page Dodd-Frank Act that President Obama signed into law last July. ...
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Chairman Bachus Introduces Bill To Promote Robust Consumer Financial Protection
Mar 16, 2011
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Financial Services Committee Chairman Spencer Bachus today introduced legislation that will facilitate robust consumer financial protection. “The Responsible Consumer Financial Protection Regulations Act” establishes a bipartisan commission of five members at the Consumer Financial Protection Bureau...
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House Votes To End Billion Dollar Bailout Of Lenders And Real Estate Speculators
Mar 16, 2011
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Today, by a vote of 242-182, the House of Representatives approved legislation to end a bailout program for lenders and real estate speculators. The legislation, H.R. 861 introduced by Rep. Gary Miller, ends the so-called Neighborhood Stabilization Program (NSP). This is the third bill approved by t...
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Chairman Bachus Appoints Grimm To Financial Institutions Subcommittee
Mar 16, 2011
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Financial Services Committee Chairman Spencer Bachus today appointed Rep. Michael Grimm (NY) to serve on the Financial Institutions and Consumer Credit Subcommittee. Chairman Bachus said, “Michael has only been in Congress for two months and already he has proven to have the expertise and leadership...
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