News List

-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 »

Financial Services Committee Chairman Spencer Bachus released the following statement on the Committee's plan to hold a hearing on the JPMorgan Chase trading loss that was disclosed last week: "More facts about the trading loss by JPMorgan Chase are coming out every day.  We know more today than we did yesterday, and we will know more tomorrow and in the coming days as new… Read more »

The Oversight and Investigations Subcommittee will vote Wednesday on whether to subpoena documents from the Department of Housing and Urban Development related to the agency’s administration of the HOME Investment Partnership Program. The HOME program is the nation’s largest federal public housing construction program and has received more than $30 billion from the taxpayers. Over the… Read more »

Small financial institutions are being hit especially hard by the rising cost of regulations, and the impact of more red tape is a threat to the existence of small town community banks and credit unions, witnesses told a House subcommittee on Wednesday. “Each new law or regulation in isolation might be manageable, but wave after wave, one on top of another, will certainly over-run many… Read more »