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.
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.
The Federal Housing Administration will need billions of dollars in aid from the U.S. Treasury before the end of the year to fill a financial hole caused by defaults on mortgages it insures, House Financial Services Committee Chairman Spencer Bachus said today.
U.S. House Financial Services Committee Chairman Spencer Bachus said he has been cleared by a congressional ethics office of allegations he improperly traded securities after he and other lawmakers were briefed by Federal Reserve Chairman Ben Bernanke during the 2008 financial crisis.
The top Republicans on the House Financial Services Committee will support Alabama Representative Spencer Bachus ’s bid for the panel’s chairmanship over a challenge from Representative Ed Royce of California, according to two House aides briefed on the matter.
U.S. Representative Spencer Bachus , the Alabama Republican who leads the House Financial Services Committee, said Congress should move quickly on a bill to overhaul U.S.-run mortgage companies Fannie Mae and Freddie Mac .
Legislation authorizing one or more self-regulatory organizations to oversee registered investment advisers is “directionally, exactly what we want,” said Stephen Luparello, vice chairman of the Financial Industry Regulatory Authority.
U.S. House lawmakers will wait for the Senate to introduce changes to the Federal Reserve’s proposal that would cap debit-card “swipe” fees, House Financial Services Committee Chairman Spencer Bachus said.