News List

Rep. Barney Frank, Ranking Member of the Financial Services Committee, on Thursday responded to criticism that regulators have completed “less than half” of the 400 new regulations in the Dodd-Frank Act by blaming House Republicans for cutting the budgets of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). “It is true that when the… Read more »

Financial Services Committee Chairman Spencer Bachus submitted the following statement for the record at a hearing on the Financial Stability Oversight Council's annual report.  Treasury Secretary Timothy Geithner appeared before the Committee to deliver FSOC's report. "When financial reform was debated by Congress two years ago, Republicans suggested an alternative that… Read more »

Financial Services Committee Chairman Spencer Bachus issued the following statement regarding Wednesday’s report from the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) on AIG’s bailout: “Four years after regulators forced taxpayers to rescue AIG from the brink of failure, we have not seen any progress made on a plan to bring an end to this bailout. Today,… Read more »

Sen. Kaufman:  From “Aye” on Dodd-Frank to “Will Not Protect Us” in Just 2 Years For someone who voted for the Dodd-Frank Act, former Senator Ted Kaufman (D-Del.) sure doesn’t have many nice things to say about the massive 2,300-page law. Marking the two-year anniversary of President Obama’s signing of the Dodd-Frank Act, Senator Kaufman used a guest column in The Hill to level… Read more »

The Financial Services Committee has taken note of former Senator Ted Kaufman’s recent tough criticisms of the Dodd-Frank Act. The Committee posted on its blog “The Bottom Line” (found at republicans-financialservices.house.gov) that Kaufman, who voted for Dodd-Frank, now acknowledges the law does not end “too big to fail” as promised, does not end taxpayer bailouts as promised, and… Read more »

The House of Representatives is expected to vote tomorrow on a bill introduced by Rep. Ron Paul, Chairman of the Financial Services Subcommittee on Domestic Monetary Policy and Technology, to authorize a full audit of the Federal Reserve System. H.R. 459 removes existing restrictions on the Government Accountability Office’s ability to fully audit the Fed and calls for an audit to be… Read more »

A subcommittee will mark the 10th anniversary of passage of the Sarbanes-Oxley Act by holding a hearing on Thursday to examine the law’s benefits and burdens on businesses and evaluate the need for reforms. “As we approach the 10-year anniversary of the Sarbanes-Oxley Act, the Capital Markets Subcommittee will examine the impact the law has had on our nation’s public companies and the… Read more »

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 »