In Homewood, Alabama, retiree Lynn Arnold says the U.S. government should crack down on Wall Street after bond and derivative deals arranged by JPMorgan Chase & Co. left Jefferson County in fiscal purgatory.
The chairman of the U.S. House Financial Services Committee said he expects “full exoneration” from an ethics investigation following reports he made securities trades after being briefed by Federal Reserve Chairman Ben Bernanke during the 2008 fiscal crisis.
Two years after his party’s leaders stripped much of his power as the top Republican on the House Financial Services Committee, Representative Spencer Bachus is within reach of taking the chairmanship from Democrat Barney Frank during the biggest regulatory overhaul since the 1930s.
U.S. Representative Spencer Bachus said the Securities and Exchange Commission may need more money to make changes he has proposed to address structural flaws and “organizational incoherence” at the agency.
U.S. Representative Spencer Bachus , the chairman of the House Financial Services Committee, said his proposal to change the leadership of the Consumer Financial Protection Bureau is “hardly a radical concept.”
Hours after Republicans secured control of the U.S. House, the council of federal regulators studying how to implement the so-called Volcker rule received a warning from the lawmaker in line to be their new overseer.