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As Senate Committee Holds Hearing on FHA Fiscal Problems, Bipartisan House Bill Waits for Action
Dec 6, 2012
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As the Senate Banking, Housing and Urban Affairs Committee meets today for a hearing on the fiscal challenges facing the Federal Housing Administration (FHA), bipartisan legislation approved 402-7 in the House to help the FHA meet those challenges awaits Senate action. The bill approved by the House...
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Chairman Bachus Releases Statement on Resignation of SEC Chairman Schapiro
Nov 26, 2012
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Financial Services Committee Chairman Spencer Bachus released the following statement today on the resignation of Securities and Exchange Commission Chairman Mary Schapiro: “As Chairman of the Financial Services Committee, I have witnessed firsthand Chairman Schapiro’s strong commitment to public se...
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Schedule of Financial Services Committee Hearings Announced
Nov 16, 2012
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Financial Services Committee Chairman Spencer Bachus on Friday announced the Committee’s hearing schedule for the week of November 26. The Committee’s schedule remains tentative and will depend upon the availability of witnesses and other factors that may require changes. Therefore, each meeting wil...
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Financial Services Subcommittee Report Finds Decisions by Corzine, Lack of Communication Between Regulators Led to MF Global Bankruptcy and Loss of Customer Funds
Nov 15, 2012
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The House Financial Services Subcommittee on Oversight and Investigations, chaired by Rep. Randy Neugebauer, released the full results of its year-long majority staff investigation into the collapse of MF Global on Thursday. The report chronicles the demise of the 230-year old commodities brokerage ...
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Subcommittee Investigation Reveals Decisions by Corzine Led to MF Global Bankruptcy and Missing Customer Funds
Nov 14, 2012
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Decisions by Jon Corzine to chart a radically different course for MF Global and try to turn the 230-year-old commodities broker into a full-service investment bank were the cause of the firm’s bankruptcy and failure to protect customer funds, Republican members of a congressional subcommittee will ...
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JOBS Act is Working to Boost Economy
Oct 22, 2012
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The bipartisan JOBS Act, which originated in the Financial Services Committee and was passed by Congress earlier this year, is working to boost the economy. A report in the Charlotte Observer notes that provisions of the act are helping community banks to trim regulatory costs and save money – money...
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Chairman Bachus Releases Committee Analysis on Dodd-Frank Act’s Perpetuation of “Too Big to Fail” and Bailouts
Oct 17, 2012
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Financial Services Committee Chairman Spencer Bachus today released “The Dodd-Frank Act, the Persistence of ‘Too Big to Fail,’ and the Institutionalization of Government Bailouts.” The report is a seven-page analysis prepared by Committee staff that refutes claims made by Dodd-Frank supporters that ...
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We Listened: What Small Banks and Small Businesses Are Saying About the Dodd-Frank Act
Oct 10, 2012
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Some Washington politicians and supposed media “fact checkers” have been falling over themselves the last few days busily defending the Dodd-Frank Act. But rather than rely on what the politicians and Beltway pundits think, Republicans on the House Financial Services Committee actually did somethin...
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Free checking being wiped out by Dodd-Frank’s burden
Oct 4, 2012
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The following article was published this week on the website BankCreditNews.com: Free checking being wiped out by Dodd-Frank’s burden The average required minimum balance for free checking rose to $723 this year, data reported by Bankrate.com showed on Monday. Banks, in response to the economic clim...
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Wall Street Journal: A $447 Million Consumer Alert
Sep 20, 2012
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Oversight and Investigations Subcommittee Chairman Randy Neugebauer writes in today's edition of the Wall Street Journal about the lack of transparency and accountability at the Consumer Financial Protection Bureau, a government bureaucracy created by the Dodd-Frank Act: A $447 Million Consumer Aler...
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