News List

The legislation, introduced by Rep. Steve Pearce, requires the Treasury Department to approve any new debt issuance by the GSEs. If Treasury approves a debt issuance, it must explain and justify its decision to Congress and the FHFA within seven days. The legislation limits the amount of GSE risk taking. H.R. 1225 was approved on a vote of 18-0-1 by the Capital Markets… Read more »

The Oversight and Investigations Subcommittee, chaired by Rep. Randy Neugebauer, will meet for a hearing to explore the progress of the Financial Stability Oversight Council (FSOC).  The Subcommittee will focus on the coordination among the FSOC Members and the FSOC’s implementation of the Dodd-Frank Act.   The hearing will take place on Thursday, April 14 at 10 a.m. in room… Read more »

A stunning development today in the ongoing controversy over whether someone on Capitol Hill is pretending to be Barney Frank. Financial Services Committee Chairman Spencer Bachus announced a videotape of the apparent impersonator has surfaced.  Chairman Bachus on Thursday made the videotape available to the press. Although Rep. Frank did not express concerns about a possible… Read more »

Witnesses testifying before a House Subcommittee on Wednesday expressed support for legislation to change the leadership structure of the new Consumer Financial Protection Bureau (CFPB) so it is governed by a bipartisan commission rather than a single director appointed by the President.   The Subcommittee on Financial Institutions and Consumer Credit on Wednesday held a hearing to… Read more »

The Capital Markets and Government Sponsored Enterprises Subcommittee approved eight bills on Wednesday that provide for immediate reforms to protect taxpayers by fundamentally reforming Fannie Mae and Freddie Mac. The bills include reforms that suspend lavish compensation for executives at Fannie Mae and Freddie Mac, eliminate the affordable housing goals, increase the guarantee fees,… Read more »

Financial Services Committee Chairman Spencer Bachus issued this statement about someone impersonating Ranking Member Barney Frank:   “There certainly does need to be an investigation into who is impersonating Barney Frank because someone who looks and sounds exactly like him said on June 29, 2010, and this is verbatim: ‘I believe we will need a technical corrections bill that… Read more »

Financial Services Committee Member Rep. Carolyn Maloney spoke out today against a proposal that places the new Consumer Financial Protection Bureau under the leadership of a bipartisan commission. At a subcommittee hearing Wednesday morning, Rep. Maloney named the Federal Reserve, the Commodity Futures Trading Commission, and the Office of the Comptroller of the Currency as examples… Read more »

The Insurance, Housing and Community Opportunity Subcommittee, chaired by Rep. Judy Biggert, approved legislation today to reform the National Flood Insurance Program (NFIP). H.R. 1309, introduced by Subcommittee Chairman Biggert, provides for long-term reauthorization of the NFIP and includes important reforms to improve its financial stability, reduce the burden on taxpayers, and… Read more »

Letters to the Editor Putting the Spike in Fannie and Fred 6 April 2011 The Wall Street Journal   Regarding your editorial "Blinking on Fannie and Fred" (March 31): The need to end the taxpayer-funded bailout of Fannie Mae and Freddie Mac is an urgent matter. That's why, on March 17, we introduced H.R. 1182, which completely removes Fannie and Freddie from the permanent… Read more »

WASHINGTON: Financial Services Committee Member Rep. Carolyn Maloney spoke out today against a proposal that places the new Consumer Financial Protection Bureau under the leadership of a bipartisan commission.  At a subcommittee hearing Wednesday morning, Rep. Maloney named the Federal Reserve, the Commodity Futures Trading Commission, and the Office of the Comptroller of the… Read more »