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 »
The House on Friday passed bipartisan legislation that includes a five-year extension of the National Flood Insurance Program and reforms that are expected to save taxpayers more than $2 billion over 10 years.
Among the reforms are those that eliminate subsidized flood insurance rates for vacation and second homes, properties with repetitive flood claims and commercial properties.
The… Read more »
As the second anniversary of the signing of the 2,300-page Dodd-Frank Act arrives in July, the Financial Services Committee will hold hearings throughout the month examining the impact the law is having on the economy, jobs, housing and credit.
“When President Obama signed Dodd-Frank into law, he promised it would provide ‘certainty to everyone from bankers to farmers to business… Read more »
Bipartisan legislation that eliminates a redundant fee disclosure requirement on automated teller machines (ATMs) was approved on Wednesday by the House Financial Services Committee.
The current law, which requires a sticker or sign about transaction fees to be attached to the ATM in addition to an on-screen notice, has spawned lawsuits by enterprising plaintiffs and vandals who remove… Read more »
The JOBS Act, passed by Congress and signed by the President earlier this year, reduces government barriers to entrepreneurship, innovation and capital formation. It combines six separate proposals that originated in the Financial Services Committee into one bill. These six proposals were part of the Committee’s plan announced in January 2011 to help small companies gain… Read more »
Financial Services Committee Chairman Spencer Bachus, who has introduced legislation approved by the House to place the Consumer Financial Protection Bureau (CFPB) under the leadership of a five-member, bipartisan commission, released the following statement about a lawsuit filed in federal court today challenging the constitutionality of the Dodd-Frank Act:
“There is no question the… Read more »
Financial Services Committee Chairman Spencer Bachus today delivered the following statement at the committee's hearing on bank supervision and risk management in relation to the recent JPMorgan Chase trading loss:
"Today the Committee meets to examine bank supervision and risk management in light of the recent trading loss at JP Morgan Chase.
"When America’s largest bank… Read more »
Financial Services subcommittee hearing on Wednesday will examine the U.S. equity markets and how the current market structure impacts smaller issuers.
“Ensuring we have the deepest, most vibrant capital markets in the world is my top priority as Chairman of the Capital Markets Subcommittee. I’m looking forward to hosting a wide swath of market participants to examine ways… Read more »
Financial Services Committee Chairman Spencer Bachus today announced the schedule for the remainder of June 2012.
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 hearing,… Read more »
Financial Services Committee Chairman Spencer Bachus on Wednesday delivered the following statement at a hearing on the "Investment Adviser Oversight Act of 2012," bipartisan legislation he has introduced to improve investor protections.
"This morning the Committee will examine bipartisan legislation, the Investment Adviser Oversight Act, that Congresswoman McCarthy and I introduced to… Read more »
