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Democrats Vote "Present" On Grayson's Financial Autopsy Amendment
Oct 22, 2009
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- During consideration of H.R. 3126, legislation to establish a Consumer Financial Protection Agency (CFPA), Rep. Alan Grayson (D-FL) offered an amendment that would require the CFPA Director to conduct an annual financial autopsy of bankruptcies and foreclosures. The Grayson amendment would provid...
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Democrats Vote to Increase Taxes on Small Businesses And Consumers of Financial Products and Services
Oct 22, 2009
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- During consideration of H.R. 3126, legislation to create a so-called Consumer Financial Protection Agency, Democrats on the House Financial Services Committee rejected an amendment offered by Congressmen Don Manzullo (R-IL) and Leonard Lance (R-NJ) to limit the CFPA's authority to impose fees and...
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Democrats Vote To Reward Trial Lawyers At The Expense Of Consumers
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 against two amendments offered by Republicans that would prevent abusive litigation. One amendment offered by Congressman Patrick Mc...
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Democrats Vote To Delegate Unprecedented Rulemaking Authority To An Unaccountable Credit Czar
Oct 22, 2009
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October 22, 2009 - During consideration of H.R. 3126, legislation to establish a Consumer Financial Protection Agency (CFPA), Democrats on the House Financial Services Committee voted against an amendment offered by Congressman Kenny Marchant (R-TX) that would subject all CFPA's rulemaking authorit...
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Frank Shuts Down Debate On Legislation That Represents The Largest Expansion Of Financial Regulation
Oct 22, 2009
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- Congressman Spencer Bachus, the top Republican on the Financial Services Committee, objected to the decision by Chairman Barney Frank (D-MA) to shut down debate on H.R. 3126, legislation to create a so-called Consumer Financial Protection Agency: "I am disappointed the Chairman ended debate on th...
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Federal Reserve Board Chairman Bernanke Raises Implementation Concerns With Legislation To Accelerate The CARD Act
Oct 21, 2009
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- Federal Reserve Board Chairman Ben Bernanke noted that legislation to accelerate the effective date of the Credit Card Accountability Responsibility and Disclosure (CARD) Act would have a detrimental impact on small credit card issuers, raising concerns that the legislation could hurt our economy...
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Democrats Vote to Authorize Unelected Bureaucrats to Subjectively Ban Commonly Used Financial Products
Oct 21, 2009
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- During consideration of H.R. 3126, legislation to create a so-called Consumer Financial Protection Agency, Democrats on the House Financial Services Committee defeated an amendment offered by Congressman Jeb Hensarling (R-TX) that would have limited the unprecedented discretion of the Director of...
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Democrats Vote to Undermine Consumer Financial Protection Regulation
Oct 21, 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 against an amendment offered by Congressman Jeb Hensarling (R-TX) that would have ensured that consumers of financial products and s...
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Democrats Vote To Undermine Safety And Soundness Of Financial Institutions
Oct 21, 2009
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-During consideration of H.R. 3126, legislation to create a so-called Consumer Financial Protection Agency, Democrats on the House Financial Services Committee rejected an amendment offered by Congressman Ed Royce (R-CA) that would address widespread concerns from bank regulators and industry exper...
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RECAP: Financial Services Committee Markup of Financial Product Approval Agency And Derivatives Legislation
Oct 19, 2009
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- Last week, the Financial Services Committee convened for a markup session of H.R. 3795, the Democrats' derivatives legislation and H.R. 3126, legislation to create a Financial Product Approval Agency. Excerpts from the last week's markup follow: Democrats On The Need To Continue Using Taxpayer Fu...
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