- 8/11/2009
GAO Issues Critical Report of Federal Regulators Enforcement of Fair Lending Laws
Washington, DC - House Financial Services Committee members Reps. Al Green (D-TX), Maxine Waters (D-CA), and Luis V. Gutierrez (D-IL), and the committee’s chairman Barney Frank (D-MA) today released a Government Accountability Office (GAO) report which is critical of federal regulators’ ability to effectively and efficiently enforce the nation’s fair lending laws. In the report, GAO found that “[f]ederal enforcement agencies and depository institution regulators face challenges in consistently, efficiently, and effectively overseeing and enforcing fair lending laws due in part to data limitations and the fragmented U.S. financial regulatory structure.”
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- 7/31/2009
House Passes Executive Compensation Reform
Washington, DC – Today, the House of Representatives approved legislation to rein in compensation practices that encourage excessive risk-taking at the expense of companies, shareholders, employees, and ultimately the American taxpayer. H.R. 3269, the Corporate and Financial Institution Compensation Fairness Act, was approved by a vote of 237-185. It represents the first piece of a larger regulatory reform package being crafted by the Financial Services Committee to address the causes of the recent financial crisis. A summary of H.R. 3269 can be viewed here.
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- 7/31/2009
Today: Executive Compensation Reform on House Floor
Washington, DC - Today, the House of Representatives will consider H.R. 3269, the Corporate and Financial Institution Compensation Fairness Act of 2009. The bill would rein in executive compensation practices that led to excessive, reckless risk-taking and contributed to the recent financial collapse. An updated version of the bill can be viewed here. A summary of the bill can be viewed here.
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