News List

The Subcommittee on Capital Markets and Government Sponsored Enterprises will meet for a hearing on Thursday to examine recent actions taken by the Obama Administration that have favored particular groups at the expense of U.S. investors. “We are holding this hearing to examine a number of actions taken by the Obama administration where they have sided with big banks, deadbeat foreign… Read more »

The Financial Services Committee will meet on Wednesday to discuss bipartisan legislation designed to protect investors by increasing the examination rate of retail investment advisers. The legislation, introduced by Chairman Spencer Bachus and Rep. Carolyn McCarthy, authorizes one or more self-regulatory organizations (SROs) for investment advisers. The establishment of one or more… Read more »

A Financial Services Subcommittee on Wednesday will examine a Federal Reserve rule that discriminates against stay-at-home moms and other spouses who earn less than their husband or wife. The Federal Reserve rule requires lenders to consider individual rather than household income when determining whether someone qualifies for a credit card.  Prior to the rule, which was mandated by… Read more »

-Financial Services Committee Chairman Spencer Bachus released the following statement concerning the May jobs report released on Friday: “The Administration’s policies are just not working.  This month marks the third anniversary of what was technically the end of the recession.  But for millions of Americans who are still out of work, it’s clear the recession never really… Read more »

By Chairman Spencer Bachus CNBC Supporters of the Dodd-Frank Act boldly promised that by increasing government control over the economy to an unprecedented degree, they would end "too big to fail" and thus save taxpayers from future AIG-style bailouts. But as we approach the second anniversary of Dodd-Frank and the fourth anniversary of the bailouts of AIG, Fannie Mae and Freddie… Read more »

Financial Services Committee Chairman Spencer Bachus announced the Committee’s schedule of upcoming hearings. May 31: The Financial Services Committee will mark up H.R. 1588, the Consumer Rental Purchase Agreement Act, and H.R. 3128.  The markup will take place at 10 a.m. in room 2128 Rayburn House Office Building. June 1: The Capital Markets and Government Sponsored… Read more »

Rep. Jeb Hensarling (R-TX) Washington Times The news of J.P. Morgan Chase's recent trading loss has raised the cry of "I told you so" from proponents of the almost 2-year-old Dodd-Frank Act. They say the law's Volcker rule would have prevented such a loss and that without more regulation, financial institutions will continue to make poor investment decisions. As an opponent of… Read more »

  By REP. SCOTT GARRETT Investor's Business Daily Posted 05/14/2012 06:14 PM ET Are you fed up with our lackluster recovery and stubbornly high unemployment?  Do you wonder why, three years after we officially pulled out of the Great Recession, we still haven't hit our economic stride? Look no further than the current occupant of 1600 Pennsylvania Avenue. The reason… Read more »

The Financial Services Committee continues its in-depth look at the 2,300-page Dodd-Frank Act with a subcommittee hearing on Wednesday examining the designation of non-bank financial institutions as “systemically important” – a euphemism for these institutions being deemed by government as “Too Big to Fail.” The Financial Stability Oversight Council (FSOC) – an interagency body of… Read more »

- The Financial Services Committee will hold a hearing on Thursday to examine the settlement practices of federal financial regulators. Federal regulators often settle enforcement actions against defendants to quickly impose and collect fines or institute corrective actions rather than litigate lengthy and expensive trials whose outcomes are uncertain.  However, these settlements… Read more »