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Issa, Bachus Request Information On Financial Health Of FHA
Nov 4, 2009
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-Oversight and Government Reform Committee Ranking Member Darrell Issa (R-CA) and Financial Services Committee Ranking Member Spencer Bachus (R-AL) sent a letter to Housing Secretary Shaun Donovan requesting information on the financial health of the Federal Housing Administration (FHA). FHA recentl...
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Bachus: CIT Bankruptcy Highlights Folly Of Legislative Proposal To Make Federal Reserve The Systemic Risk Regulator
Nov 1, 2009
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Statement of Congressman Spencer Bachus, the top Republican on the Financial Services Committee, on reports that CIT has filed for Chapter 11 bankruptcy protection: "Today's news that CIT has filed for bankruptcy protection, and that taxpayers' $2.33 billion TARP investment in the company is likely...
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Banking Regulator Acknowledges Not Having Time To Read Obama Administration's Financial Industry Reform Plan
Oct 29, 2009
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- At a House Financial Services Committee hearing today on the Obama Administration's 253 page draft legislation to reform the financial regulatory system, Members of the Committee and witnesses alike admitted to not having had a chance to read the complex proposals which the Committee is scheduled...
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Bachus Rejects Frank's Assertion Regarding Credit Czar
Oct 29, 2009
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- Congressman Spencer Bachus, the Ranking Republican on the House Financial Services Committee, made the following response to Chairman Barney Frank's statement that "Going from a single executive able to act promptly and efficiently to a five-member commission with staggered terms will weaken the ...
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Committee Republicans To Frank: Arbitrary Deadline On Financial Regulatory Reform Will Result In Bad Bill
Oct 29, 2009
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- Financial Services Committee Republicans, led by Ranking Member Spencer Bachus, urged Chairman Barney Frank to allow more time to study and understand the 253-page draft legislation released on October 27 before the Committee considers the legislation. Frank announced that the Committee will mark...
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Bachus Rejects Administration's Plan For Permanent Taxpayer Bailout Authority, Proposes Bankruptcy For Resolving Failing Non-Bank Financial Firms
Oct 28, 2009
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- Congressman Spencer Bachus, the Ranking Republican on the House Financial Services Committee, today raised strong objections to legislation submitted by the Obama Administration and released by Committee Chairman Barney Frank to reform the financial regulatory structure. The sweeping proposal cal...
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Bachus Amendment To The Private Fund Investment Advisers Registration Act Is Accepted By Committee
Oct 27, 2009
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- During consideration of H.R. 3818, the Private Fund Investment Advisers Registration Act, Financial Services Committee Ranking Member Spencer Bachus offered an amendment that protects the fiduciary obligations that investment advisers owe their clients. The Democrats' legislation gives the Securi...
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Bachus Amendment To Promote Greater Investor Due Diligence Is Approved By Committee
Oct 27, 2009
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- The Financial Services Committee approved an amendment by Ranking Member Spencer Bachus to H.R. 3890, the Accountability and Transparency in Rating Agencies Act, that will help restore market discipline and promote greater investor due diligence. The amendment, which is part of the Republican reg...
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Bachus, Garrett Amendment To Reduce Reliance On Credit Ratings Approved By Committee
Oct 27, 2009
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- The Financial Services Committee today approved an amendment by Ranking Member Spencer Bachus and Capital Markets Subcommittee Ranking Member Scott Garrett to H.R. 3890, the Accountability and Transparency in Rating Agencies Act, that will reduce the reliance on credit ratings by investors. The a...
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Democrats Vote To Give ACORN Regulatory Authority Over Financial Institutions
Oct 22, 2009
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- During consideration of H.R. 3126, legislation to establish a Consumer Financial Protection Agency (CFPA), Democrats on the House Financial Services Committee voted to pass an amendment offered by Rep. Maxine Waters (D-CA) that will make ACORN eligible to play a role in setting regulations for fi...
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