Chairman Spencer Bachus

News List

  • We Listened: What Small Banks and Small Businesses Are Saying About the Dodd-Frank Act
    Oct 10, 2012 - 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... More
  • Free checking being wiped out by Dodd-Frank’s burden
    Oct 4, 2012 - 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... More
  • Wall Street Journal: A $447 Million Consumer Alert
    Sep 20, 2012 - 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... More
  • Financial Services Committee Chairman Spencer Bachus Reacts to Today’s Action by the Federal Reserve
    Sep 13, 2012 - "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... More
  • U.S. Financial Rules Panel Should Improve Transparency, GAO Says
    Sep 13, 2012 - (Bloomberg) -- A panel of U.S. regulators created to monitor financial stability faces challenges in achieving its mission of identifying risks and should improve its transparency, according to a report by the Government Accountability Office. The Dodd-Frank law created the Financial Stability Overs... More
  • U.S. financial risk council could use more sunlight: GAO
    Sep 13, 2012 - (Reuters) - The new U.S. financial risk council should publicly share more details about its closed-door meetings on emerging risks to markets, a congressional watchdog report has found. The Government Accountability Office said the Financial Stability Oversight Council, a group made up of the top U... More
  • Hearing To Examine Ways To Facilitate A Private Terrorism Risk Insurance Marketplace
    Sep 6, 2012 - 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... More
  • Financial Services Committee Releases September Schedule
    Aug 31, 2012 - 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... More
  • Dodd-Frank is aimed at Wall Street. So why is it hurting the construction industry?
    Aug 24, 2012 - More evidence of the unintended consequences of the Dodd-Frank Act: “With passage of the Dodd-Frank law, the banking and financial services industries face uncertainty that has locked credit markets and access to capital. Many companies have viable, low-risk projects or contracts that simply need fu... More
  • Wall Street regulation is felt on Main Street
    Aug 22, 2012 - The following editorial appeared in the Aug. 22, 2012 edition of the Charleston Daily Mail: Wall Street regulation is felt on Main Street In the aftermath of the 2008 financial meltdown, Democrats were in control of both houses of Congress. They passed another law to rein in the banking industry, al... More