News List

House Financial Services Committee Chairman Spencer Bachus today issued the following statement after the U.S. Labor Department reported that only 18,000 jobs were created in June and that the unemployment rate increased to 9.2 percent: “The trend in recent jobs reports is disheartening and unmistakable.  Even though the recession technically ended over two years ago, the economy… Read more »

Financial Services Committee Chairman Spencer Bachus made the following statement concerning today's Subcommittee hearing on legislative proposals regarding bank examination practices. "Every member of Congress has heard the concerns of small business owners and bankers about overzealous regulators. "No one wants regulators to allow unsafe practices, but no one wants regulators… Read more »

Subcommittee to Vote on 7 Bills Next Week That Protect Taxpayers From Bailout WASHINGTON -The Financial Services Committee will continue moving forward next week with needed reforms of Fannie Mae and Freddie Mac to end the taxpayer-funded bailout of the government sponsored enterprises. The Capital Markets and Government Sponsored Enterprises Subcommittee will meet on Tuesday, July… Read more »

The Consumer Financial Protection Bureau (the government bureaucracy that’s supposed to “nudge” you to make decisions about your life that it deems are correct) doesn’t start operating until July 21.  The President still has not even nominated someone to lead the agency yet.  But it does have an office softball team and it is hiring at a rate of more than 80 new government… Read more »

Two Financial Services subcommittees will hold a joint hearing on Thursday, July 7 to review the role of Federal regulators in the ongoing mortgage servicing settlement negotiations and the development of new mortgage servicing standards.  Witnesses will include regulators from the Office of the Comptroller of the Currency, the FDIC, and the Consumer Financial Protection Bureau, and… Read more »

Yesterday, Financial Service Committee Chairman Spencer Bachus presided over a field hearing that highlighted the role of the National Computer Forensics Institute (NCFI) in Hoover, Alabama in fighting cybercrime. “The National Computer Forensics Institute is providing valuable training to the state and local law enforcement officials who are our first line of defense against… Read more »

  The Capital Markets and Government Sponsored Enterprises Subcommittee gathered on Friday, June 24th for a hearing titled, "Oversight of the Mutual Fund Industry: Ensuring Market Stability and Investor Confidence". Subcommittee Chairman Scott Garrett stated the intent of the hearing was to “to focus …on different efforts and proposals meant to provide more certainty to… Read more »

WASHINGTON – The Subcommittee on Capital Markets and Government Sponsored Enterprises will conduct a hearing on the state of the mutual fund industry on Friday, June 24.  It will be the first Financial Services Committee oversight hearing focusing on the mutual fund industry since 2005. The Subcommittee hearing, entitled “Oversight of the Mutual Fund Industry: Ensuring Market… Read more »

Domestic Monetary Policy and Technology Subcommittee Chairman Ron Paul announced today that the subcommittee will hold a hearing on legislation calling for a full audit of U.S. gold reserves. H.R. 1495, the “Gold Reserve Transparency Act of 2011,” calls for an audit by the Treasury that gives a full and thorough accounting of the U.S. government’s gold reserves, requiring an inventory… Read more »

The Financial Services Committee today approved the Small Company Capital Formation Act (H.R. 1070) introduced by Rep. David Schweikert. The bill makes it easier for small businesses to access capital, which will permit greater investment in these companies and will allow them to grow and create new jobs. “I am extremely pleased that the Financial Services Committee passed my Small… Read more »