Financial Services Committee Chairman Spencer Bachus today released the following statement at a subcommittee hearing on the economic impact of derivatives regulations contained in Title VII of the Dodd-Frank Act:
"The Dodd-Frank Act is comprised of 16 titles totaling some 2,300 pages. Title VII is the Act’s longest, totaling 444 pages. Now, obviously, the derivatives… Read more »
The House Financial Services Committee will include eight new Republican members when the 113th Congress convenes in January.
"These new members, combined with the expertise of the committee's returning Republicans, give us an outstanding team that will promote solutions for a stronger economy, an end to too big to fail, and smarter regulations that protect consumers without killing… Read more »
As the Senate Banking, Housing and Urban Affairs Committee meets today for a hearing on the fiscal challenges facing the Federal Housing Administration (FHA), bipartisan legislation approved 402-7 in the House to help the FHA meet those challenges awaits Senate action.
The bill approved by the House in September is the FHA Emergency Fiscal Solvency Act sponsored by Chairman Judy… Read more »
Financial Services Committee Chairman Spencer Bachus released the following statement today on the resignation of Securities and Exchange Commission Chairman Mary Schapiro:
“As Chairman of the Financial Services Committee, I have witnessed firsthand Chairman Schapiro’s strong commitment to public service and her thoughtful leadership of the SEC. She served during a very difficult… Read more »
Financial Services Committee Chairman Spencer Bachus on Friday announced the Committee’s hearing schedule for the week of November 26.
The Committee’s schedule remains tentative and will depend upon the availability of witnesses and other factors that may require changes. Therefore, each meeting will become final only when the official notice is distributed. Additional… Read more »
The House Financial Services Subcommittee on Oversight and Investigations, chaired by Rep. Randy Neugebauer, released the full results of its year-long majority staff investigation into the collapse of MF Global on Thursday.
The report chronicles the demise of the 230-year old commodities brokerage firm, which declared bankruptcy in October 2011. MF Global’s failure was the eighth… Read more »
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 »
