News List

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 »

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 »