News List

The Insurance, Housing, and Community Opportunity Subcommittee, chaired by Rep. Judy Biggert, approved three bills on Thursday regarding data collection regulations on insurance companies, home warranties and homeless veterans. The bills approved by the Subcommittee are: H.R. 3559, Insurance Data Protection Act, sponsored by Rep. Steve Stivers This bill addresses concerns raised… Read more »

Financial Services Committee Chairman Spencer Bachus on Thursday issued the following statement, commending senators who refused to confirm an unaccountable director for the Consumer Financial Protection Bureau (CFPB) unless and until structural reforms are made to the bureaucracy: “The CFPB under the direction of a single person embodies the Obama Administration’s seemingly endless… Read more »

The Financial Services Subcommittee on Oversight and Investigations, chaired by Rep. Randy Neugebauer, has voted unanimously to subpoena Jon Corzine, the former executive of MF Global. Corzine is being directed to testify before the Subcommittee on Thursday, December 15 at 1 p.m. when the Subcommittee will hold a hearing to examine the causes and consequences of MF Global’s… Read more »

The Committee on Financial Services announced today that the markup of H.R. 1148, the STOCK Act, previously scheduled for December 14 will be postponed. A significant number of members of the Committee on both sides of the aisle have indicated a desire for additional time to study this issue before the Committee moves forward with the markup that was announced for December 14.  In… Read more »

The Committee on Financial Services held a field hearing on “Regulatory Reform: Examining How New Regulations are Impacting Financial Institutions, Small Businesses and Consumers in Illinois” earlier today.   At this hearing, representatives from community financial institutions and small businesses explained how new financial regulations are affecting the ability of financial… Read more »

The Subcommittee on Oversight and Investigations, chaired by Rep. Randy Neugebauer, will meet on Wednesday, December 7 at 3 p.m. to consider a subpoena for Jon Corzine, the former chairman and CEO of MF Global. The Subcommittee meeting will take place in room 2128 Rayburn. Subcommittee Chairman Neugebauer said, “Mr. Corzine is the only person who can provide a thorough account of the… Read more »

The Financial Services Subcommittee on Oversight and Investigations is examining hundreds of pages of documents and requesting other materials surrounding the bankruptcy of MF Global as it prepares for its hearing later this month. Subcommittee Chairman Randy Neugebauer has requested information from regulators who were responsible for overseeing MF Global, and he continues working with… Read more »

The Financial Services Committee continued its efforts to promote job creation by easing the burden government regulations impose on the private sector with the approval today of three bills that fix derivatives provisions of the Dodd-Frank Act. Since January, the Committee has led efforts to identify and fix job-killing provisions in the Dodd-Frank Act, as well as remove regulatory… Read more »

“The action of the Federal Reserve announced this morning to extend existing bilateral swap arrangements with European and other foreign central banks is a recognition of the interconnected nature of the global economy. Since early 2005, I have stated my concern that the interconnectedness of the global economy makes it necessary for U.S. policymakers to recognize we are not immune from… Read more »

The Financial Services Committee will convene a hearing on Thursday with Federal officials and industry experts to evaluate the financial health of the Federal Housing Administration (FHA), the government agency that insures nearly 40 percent of new home mortgages in the U.S. The hearing comes on the heels of an independent auditor’s report released on November 15 that the FHA may need a… Read more »