News List

Financial Services Committee Chairman Spencer Bachus released the following statement on Friday to mark the second anniversary of the Dodd-Frank Act becoming law: “When President Obama signed Dodd-Frank into law two years ago, he promised it would provide ‘certainty to everyone from bankers to farmers to business owners to consumers.’  Today we look at the sad shape of our economy… Read more »

Financial Services Committee Chairman Spencer Bachus will deliver the following statement at today's committee hearing with Federal Reserve Chairman Ben Bernanke on the state of the U.S. economy: "We’re honored to have Federal Reserve Chairman Ben Bernanke before us today.  Thank you, Chairman Bernanke, for appearing before our Committee once again and for your… Read more »

Financial Services Committee Chairman Spencer Bachus on Tuesday announced the Committee’s schedule of upcoming hearings. The Committee’s schedule remains tentative and will depend upon witness availability and other factors that may require changes.  Therefore, each meeting will become final only when the official notice is distributed.  Additional information about each… Read more »

A subcommittee hearing on Thursday will examine how the consequences of the Dodd-Frank Act are felt far from Wall Street at a hearing to examine the law’s impact on families, communities and small businesses. Rep. Randy Neugebauer, chairman of the Financial Services Subcommittee on Oversight and Investigations, said, “The Dodd-Frank Act was supposed to rein in risky bets at the biggest… Read more »

Financial Services Committee launches online survey to demonstrate how Dodd-Frank impacts our daily lives Supporters of the Dodd-Frank Act promoted it to the American people as “Wall Street reform.”  But in reality, the true impact of this mammoth 2,300-page law is felt far from Wall Street. With the law’s second anniversary approaching later this month, the Financial Services… Read more »

Financial Services Committee Chairman Spencer Bachus made the following statement during a Subcommittee hearing on the impact of the Dodd-Frank Act on jobs, the economy, and consumers. "Dodd-Frank was enacted in response to the financial crisis of 2008.  The law was not intended to hinder the ability of American businesses to utilize the capital markets or to unduly hamper the… Read more »

The House today voted overwhelmingly to approve bipartisan legislation eliminating a regulatory provision that has become the source of frivolous lawsuits aimed at operators of automated teller machines (ATMs). A regulation issued under current law requires a sign notifying consumers about transaction fees to be attached to ATMs in addition to a separate notice that appears on the… Read more »

Financial Services Committee Chairman Spencer Bachus made the following comments about the June jobs report that was released on Friday morning: “This latest lackluster report is further proof that the Administration’s policies have failed.  The blizzard of red tape emanating from Washington packs a wallop that is only making the economy worse.  Whether it’s the President’s… Read more »

A Financial Services Subcommittee hearing on Tuesday, July 10 will focus on how the Dodd-Frank Act’s rules and red tape make it harder for American companies to raise capital, hedge risks and obtain credit – activities that are necessary for businesses to grow and hire workers. The hearing before the Capital Markets and Government Sponsored Enterprises Subcommittee will focus… Read more »

With this month marking the second anniversary of passage of the Dodd-Frank Act, the Financial Services Committee is focusing attention throughout July on the burdens this law’s 2,300 pages and more than 400 new rules layer on American companies, financial markets and consumers. Supporters of Dodd-Frank sold it to the public as “tough Wall Street reform,” but in reality its red tape… Read more »