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STATEMENT BY RANKING MEMBER SPENCER BACHUS (R-AL) REGARDING PASSAGE OF CFIUS REFORM BILL
Jul 11, 2007
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"Today the House once again overwhelmingly passed legislation that reforms the way the Committee on Foreign Investment in the United States (CFIUS) assesses the safety and security consequences of proposed foreign investment in the United States economy. The clarity this legislation brings should l...
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Statement by Ranking Member Spencer Bachus Regarding the Financial Services Forum's new report, "Succeeding in the Global Economy: A New Policy Agenda for the American Worker"
Jun 28, 2007
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"Let me commend the Financial Services Forum for commissioning such a thorough, thought-provoking paper. While globalization presents clear challenges, I believe the vast opportunities it presents, ranging from improved quality of life for workers to businesses made strong through vibrant competiti...
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STATEMENT BY RANKING MEMBER SPENCER BACHUS REGARDING TREASURY SECRETARY PAULSON'S FINCEN ANNOUNCEMENT
Jun 22, 2007
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"Since 9/11, financial institutions have worked hard to combat terrorist financing. But the numerous paperwork requirements imposed on them have led to excessive cost, duplication, and outright waste. Superfluous paperwork requirements actually make it harder for the law enforcement community to fo...
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STATEMENT OF RANKING MEMBER SPENCER BACHUS
Jun 5, 2007
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HOUSE FINANCIAL SERVICES COMMITTEE "U.S. INTERESTS IN REFORM OF CHINA'S FINANCIAL SERVICES SECTOR" WEDNESDAY, JUNE 6, 2006 Mr. Chairman, this is as important a hearing as we have had in this Committee this year, and I commend you for scheduling it. When it comes to the issue of U.S. access to China...
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Senior Financial Services Committee Members Express Concern Over "Liar Loans"
May 23, 2007
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Today, Congressman Spencer Bachus (R-AL) the Ranking Member of the House Financial Services Committee, Congressman Paul Gillmor (R-OH) the Ranking Member of the Subcommittee on Financial Institutions and Congresswoman Judy Biggert (R-IL) the Ranking Member of the Subcommittee on Housing, sent the fo...
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Frank, Bachus Letter to House Agriculture Committee Regarding the Farm Credit System
May 22, 2007
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House Financial Services Committee Chairman Barney Frank (D-MA) and Ranking Member Spencer Bachus (R-AL), sent a letter Friday to House Agriculture Committee Chairman Collin Peterson (D-MN) and Ranking Member Bob Goodlatte (R-VA), regarding the possible expansion of the Farm Credit System as it cou...
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Summary of H.R. 1427, Federal Housing Finance Reform Act
May 17, 2007
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Background Fannie Mae and Freddie Mac were chartered by Congress to establish and maintain a secondary mortgage market for the U.S. housing finance system. These Government Sponsored Enterprises (GSEs) have been embroiled in major accounting irregularities in recent years. This has prompted calls f...
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Statement by Ranking Member Spencer Bachus Regarding The Unlawful Internet Gambling Enforcement Act
Apr 26, 2007
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Congressman Spencer Bachus (AL-06) today issued the following statement regarding legislation introduced by U.S. Rep. Barney Frank (D-MA) that would remove restrictions on illegal Internet gambling: “It should come as no surprise that I fundamentally oppose any attempts to repeal or weaken The Unla...
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STATEMENT BY RANKING MEMBER SPENCER BACHUS (R-AL) REGARDING GAO TITLE INSURANCE REPORT
Apr 17, 2007
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“Homeownership is a source of pride and satisfaction for many families. Purchasing title insurance is a small but important component of the home buying experience. Title insurers play a key role in identifying and addressing any problems prior to closing and protecting consumers against the threat...
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STATEMENT BY RANKING MEMBER SPENCER BACHUS (R-AL) REGARDING SUPREME COURT RULING IN WATTERS V. WACHOVIA BANK
Apr 17, 2007
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“The Court’s decision preserves the ability of the nation’s banks to conduct their business according to clear and certain legal standards. Moving forward, the Office of the Comptroller of the Currency (OCC) should work cooperatively with states and other regulators to promote uniformity in oversig...
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