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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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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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Financial Services Committee Chairman Spencer Bachus Reacts to Today’s Action by the Federal Reserve
Sep 13, 2012
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"The Federal Reserve’s action today is a scathing indictment of this Administration’s economic policies which, after almost four years, have failed to produce a sustainable recovery or put Americans back to work. The Federal Reserve cannot rescue the Administration from the consequences of failed ec...
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Hearing To Examine Ways To Facilitate A Private Terrorism Risk Insurance Marketplace
Sep 6, 2012
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A Financial Services Subcommittee hearing on Tuesday will examine the capacity of the insurance industry to offer terrorism risk insurance without a Federal backstop. The Terrorism Risk Insurance Act (TRIA), a temporary risk sharing program created in 2002 to ensure consumers have access to terroris...
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Financial Services Committee Releases September Schedule
Aug 31, 2012
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Financial Services Committee Chairman Spencer Bachus on Thursday announced the Committee’s hearing schedule for the month of September. Hearing on the Terrorism Risk Insurance Act: On Tuesday, September 11, the Subcommittee on Insurance, Housing and Community Opportunity will hold a hearing to exami...
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Chairman Bachus Says Treasury Action Makes It Less Likely Taxpayers Will Be Repaid for $200 Billion GSE Bailout
Aug 17, 2012
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Financial Services Committee Chairman Spencer Bachus issued the following statement about the Treasury Department's decision on Friday to reduce the dividend rate paid to the Secretary of the Treasury on Senior Preferred Stock of Fannie Mae and Freddie Mac: “The Administration took its first step to...
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