News List

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 »

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 »