News List

Bachus says Financial Services Committee hearing will examine threat posed by hackers WASHINGTON –Reports that the CIA was the victim of a cyberattack on Thursday underscore the seriousness of the threat posed by hackers and cybercriminals, said Financial Services Committee Chairman Spencer Bachus. The reported attack on the CIA comes as the Financial Services Committee prepares to… Read more »

WASHINGTON – Financial Services Committee Chairman Spencer Bachus made the following statement today during a Full Committee hearing to examine the international implications of the Dodd-Frank Act on U.S. economic competitiveness: “When President Obama signed the Dodd-Frank Act into law last summer, he set in motion the most ambitious changes to financial institution regulation since… Read more »

WASHINGTON -- The Financial Services Committee will examine the international implications of the Dodd-Frank Act on U.S. economic competitiveness during a hearing on Thursday. “There is a widespread and growing concern that the Dodd-Frank Act with its 400 new regulations will lead to industry, capital and jobs leaving the United States.  This is a concern that many of us on the… Read more »

During the June 14th Financial Institutions and Consumer Credit Subcommittee hearing that examined whether the Dodd-Frank Act really ended “too big to fail” (as some Democrats claim it did), Ranking Member Barney Frank said it is the Republicans’ fault for creating a “false perception” that “too big to fail” lives on:  “The only people who are arguing that…if a large financial… Read more »

The crushing burden of more and more regulations from Washington (400 new rule-makings due to the Dodd-Frank Act alone) has led one columnist to conclude that if the United States enters another depression, “the likely reason will be new financial rules.” If through ineptitude and inattention the federal… Read more »

When President Obama signed the Dodd-Frank Act into law last summer, he set in motion the most ambitious changes to financial institution regulation since the Great Depression.  The supporters of Dodd-Frank held out the promise that by increasing government control over the economy to an unprecedented degree, the Act would “end too big to fail” and “protect the American taxpayer by… Read more »

The Financial Services Committee, chaired by Rep. Spencer Bachus, will hold a hearing on June 29 at the National Computer Forensics Institute in Hoover, Alabama on the threat cybercriminals pose to individuals and financial institutions. The National Computer Forensics Institute trains law enforcement officers from across the country on how to detect, prevent and prosecute cyber… Read more »

The Financial Services Committee, chaired by Rep. Spencer Bachus, will receive testimony from Treasury Secretary Timothy Geithner on the state of the international financial system at a hearing on Wednesday, June 15 at 10 a.m. in room 2128 Rayburn. Financial Services Committee Chairman Spencer Bachus said, “The Dodd-Frank Act has injected uncertainty into our financial system and… Read more »

Mortgage guarantees made by Fannie Mae and Freddie Mac in the coming decade are expected to cost the government another $42 billion, the Congressional Budget Office said Thursday. The mortgage giants were seized by regulators and placed into a federal conservatorship in September 2008 as housing prices tumbled nationwide and foreclosures climbed. Through the end of March, the government… Read more »

Financial Services Committee Chairman Spencer Bachus delivered the following statement today at a full committee hearing on HUD’s management of the Home Investment Partnerships Program:   “The HOME Investment Partnerships Program is the federal government’s largest housing construction program for the poor.  Administered by the Department of Housing and Urban Development, it… Read more »