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Hurt Bill Removing Costly Dodd-Frank Mandate Approved By Committee
Jun 22, 2011
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The Financial Services Committee approved legislation by Rep. Robert Hurt removing a costly Dodd-Frank Act mandate to allow small businesses easier access to private capital. The Small Business Capital Access and Job Preservation Act (H.R. 1082) exempts private equity fund advisers from having to re...
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Hayworth Bill To Eliminate Unnecessary Regulation On Job Creators Passes Committee
Jun 22, 2011
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Continuing the Financial Services Committee’s efforts to identify and fix government policies standing in the way of job creation and economic growth, the Committee today approved a bill sponsored by Rep. Nan Hayworth to help companies utilize their resources for new jobs and investment. The Burdens...
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Bill to Facilitate a Robust Covered Bond Market Scheduled For Committee Consideration
Jun 21, 2011
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The Financial Services Committee on Wednesday will consider legislation to establish a framework that allows U.S. financial institutions to issue covered bonds. Covered bonds, seen by many as a vital alternative to the securitization model, have been used in Europe for centuries to finance mortgages...
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Chairman Bachus: Taxpayers Deserve Better Management of Bailed Out Companies Fannie, Freddie
Jun 21, 2011
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FHFA Must Implement Reforms Suggested By Inspector General Report Says Bachus Financial Services Committee Chairman Spencer Bachus made the following statement regarding a report released today by the Inspector General of the Federal Housing Finance Agency (FHFA) which found the FHFA lacks assurance...
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Support for U.S. Covered Bond Act Grows
Jun 21, 2011
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Three national real estate groups voiced support for H.R.940, the U.S. Covered Bond Act, on Tuesday. Introduced by Congressman Scott Garrett, H.R. 940 would create a legislative framework to allow U.S. financial institutions to issue covered bonds. Covered bonds are a form of debt in which specific ...
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WSJ: CBO: Fannie, Freddie Guarantees to Cost Government $42 Billion
Jun 3, 2011
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Mortgage guarantees made by Fannie Mae and Freddie Mac in the coming decade are expected to cost the government another $42 billion, the Congressional Budget Office said Thursday. The mortgage giants were seized by regulators and placed into a federal conservatorship in September 2008 as housing pri...
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Bachus: Weak Job Report Underscores Importance Of Committee’s Work
Jun 3, 2011
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Continuing the Committee’s focus on promoting job creation, improving the economy and reforming the nation’s housing system, Financial Services Committee Chairman Spencer Bachus announced the planned Committee schedule for the remainder of June. From the start of the 112th Congress, under Chairman B...
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Obama’s Millions for Fannie, Freddie Execs. But Who’s Counting?
Jun 1, 2011
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John Solomon, a former Associated Press reporter who is now at the Center for Public Integrity, recently wrote about an issue for the Daily Beast that deserves more attention than it gets: Over the last two years, the Obama administration has approved a whopping $34.4 million in compensation to the ...
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ICYMI: Obama's Millions for Fannie, Freddie Execs. But Who's Counting?
May 26, 2011
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The Daily Beast Over the last two years, the Obama administration has approved a whopping $34.4 million in compensation to the top six executives of the financially troubled Fannie Mae and Freddie Mac mortgage giants, and lacks the necessary protections to ensure such compensation is even warranted....
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Committee Approves Legislation To Ensure Regulators Have Time To Get Derivatives Rules Right
May 24, 2011
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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 propose...
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