The Financial Services Committee, chaired by Rep. Spencer Bachus, approved legislation today to give regulators additional time to write and review the rules governing derivatives. H.R. 1573, approved by a vote of 30 to 24, addresses concerns raised by both Republicans and Democrats that the proposed Dodd-Frank rules governing derivatives could put U.S. firms at a competitive… Read more »
Financial Services Committee Chairman Spencer Bachus made the following statement today during consideration of H.R. 1573, legislation to restore order to the Dodd-Frank derivatives rulemaking process, promote regulatory coordination, and ensure the U.S. economy is not placed at a competitive disadvantage with other countries
“The Committee meets this morning to markup important… Read more »
Insurance, Housing and Community Opportunity Subcommittee Chairman Judy Biggert announced today the Subcommittee will meet for a legislative hearing on reforming the Federal Housing Administration, the Rural Housing Service, and Ginnie Mae. The hearing will take place on Wednesday, May 25 at 10 a.m. in room 2128 Rayburn.
The hearing is part of the Financial Services Committee’s ongoing… Read more »
Capital Markets and Government Sponsored Enterprises Subcommittee Chairman Scott Garrett announced today the Subcommittee will convene for a hearing entitled “Transparency, Transition and Taxpayer Protection: More Steps to End the GSE Bailout” on Wednesday, May 25th at 2 p.m. in room 2128 Rayburn.
The hearing continues the Financial Services Committee’s ongoing effort to end the… Read more »
WASHINGTON: Financial Services Committee Chairman Spencer Bachus announced today that the Committee will hold a hearing next week on allegations of mismanagement and waste in the HOME Investment Partnership Program administered by the Department of Housing and Urban Development (HUD).
HOME is HUD’s largest federal block grant program for affordable housing projects. A recent series… Read more »
The International Monetary Policy and Trade Subcommittee, chaired by Rep. Gary G. Miller, will hold a hearing on Tuesday, May 24 to review legislation reauthorizing the Export–Import Bank. The Ex-Im Bank’s charter is set to expire on September 30, 2011. The hearing will take place in room 2128 Rayburn at 2:00 p.m.
Subcommittee Chairman Miller said, “To get our economy back on… Read more »
In order to get our economy growing, Congress must reduce government spending. Our nation faces a record-breaking deficit of $1.4 trillion dollars and a record-breaking debt of more than $14 trillion. We must get America’s fiscal house in order and stop spending money we don’t have.
Republicans on the Financial Services Committee understand this fact and have worked since… Read more »
Three leaders of the Financial Services Committee are asking HUD Secretary Shaun Donovan for detailed information about delayed housing projects and the agency’s oversight of its HOME program, which provides $2 billion a year to local housing agencies to build and renovate homes across the country.
Committee Chairman Spencer Bachus, Oversight and Investigations Subcommittee Chairman… Read more »
In recent interviews two Democrat officials warned about some of the unintended consequences of the Dodd-Frank Act. These quotes are of particular interest as the Financial Services Committee will consider common-sense legislation next week to promote a functioning derivatives market by giving regulators more time to write the rules and ensure coordination among regulators. H.R. 1573… Read more »
POLITICO’s “Morning Money” reports today that members of NY’s congressional delegation, including several Democrats on the Financial Services Committee, have written regulators to express their concerns that proposed rules governing derivative margin requirements “will inevitably result in significant competitive disadvantages for U.S. firms operating globally.” Could it be possible… Read more »
