News List

The Financial Services Committee approved legislation by Rep. Robert Hurt removing a costly Dodd-Frank Act mandate to allow small businesses easier access to private capital.  The Small Business Capital Access and Job Preservation Act (H.R. 1082) exempts private equity fund advisers from having to register with the Securities and Exchange Commission so long as the fund does not… Read more »

Continuing the Financial Services Committee’s efforts to identify and fix government policies standing in the way of job creation and economic growth, the Committee today approved a bill sponsored by Rep. Nan Hayworth to help companies utilize their resources for new jobs and investment. The Burdensome Data Collection Relief Act (H.R. 1062) repeals a costly requirement the Dodd-Frank Act… Read more »

The leadership of the Financial Services Committee and the Oversight and Government Reform Committee continue to express concerns about a lack of transparency and accountability at the new Consumer Financial Protection Bureau (CFPB).  Leaders of these two House committees on Monday sent a letter to Treasury Secretary Timothy Geithner requesting documents reflecting coordination… Read more »

The Financial Services Committee on Wednesday will consider legislation to establish a framework that allows U.S. financial institutions to issue covered bonds. Covered bonds, seen by many as a vital alternative to the securitization model, have been used in Europe for centuries to finance mortgages and public sector loans. Covered bonds are a form of debt in which specific assets –… Read more »

FHFA Must Implement Reforms Suggested By Inspector General Report Says Bachus Financial Services Committee Chairman Spencer Bachus made the following statement regarding a report released today by the Inspector General of the Federal Housing Finance Agency (FHFA) which found the FHFA lacks assurance that complaints regarding the operations of Fannie Mae and Freddie Mac, including those… Read more »

Financial Services Committee Chairman Spencer Bachus said today the Committee will continue to focus on policies that promote jobs and economic development, build a stronger housing finance system, and protect taxpayers during the month of July. “Americans continue to suffer from the devastating impact that Washington’s over-spending and over-regulating has on the economy. 14 million… Read more »

Three national real estate groups voiced support for H.R.940, the U.S. Covered Bond Act, on Tuesday. Introduced by Congressman Scott Garrett, H.R. 940 would create a legislative framework to allow U.S. financial institutions to issue covered bonds.  Covered bonds are a form of debt in which specific assets – typically loans – are pooled for the benefit of bondholders. A joint letter… Read more »

The Financial Services Committee on Wednesday will vote on several bills designed to spur private sector job growth and remove government barriers to job creation. “The burden of excessive regulations makes it harder for companies, particularly small businesses, to hire new workers.  In fact, the Small Business Administration reports smaller firms spend almost $11,000 per employee… Read more »

The Insurance, Housing, and Community Opportunity Subcommittee, chaired by Rep. Judy Biggert, will examine a legislative proposal to improve the nation’s largest affordable housing program during a hearing on Thursday. The Section 8 housing voucher program, administered by the Department of Housing and Urban Development (HUD), serves over two million low-income households. … Read more »

Financial Services Committee Chairman Spencer Bachus announced today that Federal Reserve Chairman Ben Bernanke will appear before the Committee on July 13 to deliver the semiannual Monetary Policy Report to the Congress.   Chairman Bachus said, “Chairman Bernanke’s report comes at a critical time as the state of our economy remains deeply troubling.  Washington’s… Read more »