The House Financial Services Committee will today consider legislation which would eliminate an entire title of the 2010 Wall Street Reform and Consumer Protection Act and also hobble the Consumer Financial Protection Bureau. The legislative language crafted by Committee Republicans lays out recommendations for deep budget cuts in areas under the Committee’s jurisdiction.  The… Read more »

Click below for text of amendments offered (and vote tallies recorded) at the April 18th mark -up of the House Financial Services Committee to consider budget reconciliation legislative recommendations.  Final House Financial Services Committee budget reconciliation legislative recommendations AGREED TO, as amended, by a recorded vote of 31 ayes and 26 nays, FC-76.  An… Read more »

Congressman Barney Frank, Ranking Member of the House Financial Services Committee, today released the following statement in response to the announcement by the Obama administration that it would take further steps to restrict speculation in oil markets. Click here to view the White House fact sheet on this issue.  Congressman Frank’s statement appears below: The package of… Read more »

Congressman Barney Frank, Ranking Member of the House Financial Services Committee, today released the following statement vowing to fight Republican efforts to substantially weaken provisions of the 2010 Wall Street Reform and Consumer Protection Act.  In his statement, Frank strongly criticizes two bills which would create substantial loopholes in parts of the law dealing with the… Read more »

Congressman Barney Frank, Ranking Member of the House Financial Services Committee, today released a statement regarding the implementation of the Volcker Rule.  The Volcker Rule is a provision of the Wall Street Reform and Consumer Protection Act which would prohibit banks and their affiliates from conducting proprietary trading – speculative investments for their own profit… Read more »

WASHINGTON – Democratic Members of the House Financial Services Committee sent a letter to Chairman Spencer Bachus, requesting that he call a legislative hearing on a bill introduced by Rep. Kevin Brady (R-TX) which would strip the legal mandate that the Federal Reserve pursue policies that seek to sustain maximum employment.

Republican Members of the House Financial Services Committee today voted to reject an amendment which calls for fully meeting the President’s funding request for the Securities and Exchange Commission.  Twenty-five Republicans voted against the amendment and seventeen Democrats voted in favor of it. The amendment was introduced by Congressman Barney Frank, Ranking Member of the… Read more »

(February 29, 2012) – Reps. Ed Markey (D-Mass.), Barney Frank (D-Mass.), Henry Waxman (D-Calif.) and Elijah Cummings (D-Md.) today assailed efforts by financial trade organizations to undermine current law which, if fully implemented, would help to restrict speculation in oil prices.  Most economists agree that speculation in oil markets is part of the reason for spikes in the… Read more »

The House Financial Services Committee today passed four bills, including controversial legislation (H.R. 2308) which would require the Securities and Exchange Commission to conduct cost-benefit analyses and periodic reviews on all rulemakings and most orders that it issues.    The effect of the legislation would be to cripple the ability of the SEC to carry out its regulatory… Read more »

The House Financial Services Committee will mark up four bills this morning beginning at 10 a.m.    At least one of these bills will draw significant controversy, the “SEC Regulatory Accountability Act” (H.R. 2308) introduced by Congressman Scott Garrett.  The bill would greatly increase requirements on the Security and Exchange Commission to conduct cost-benefit analyses… Read more »

Congressman Barney Frank, Ranking Member of the House Financial Services Committee, today released the following statement regarding news reports that Chairman Spencer Bachus will be investigated by the Office of Congressional Ethics.   I do not believe that Members of Congress should comment on specific ongoing ethics investigations.   In my dealings over the years with Spencer… Read more »

Congressmen Barney Frank, Michael Capuano and Stephen Lynch – all three Members of the House Financial Services Committee representing Congressional districts in the state of Massachusetts – today released the attached letter to Ed DeMarco, Director of the Federal Housing Finance Agency.  The FHFA is the federal agency which is the regulator and conservator of Fannie Mae and Freddie… Read more »

WASHINGTON – Congressman Barney Frank today released the following statement about President Obama’s plan to help homeowners and to hasten recovery in the housing market.

Congresswoman Maxine Waters, ranking member of the House Financial Services Committee, today released a letter to Ben Bernanke, chairman of the Federal Reserve, and Thomas Curry, comptroller of the currency, asking for detailed information about the abrupt termination of the Independent Foreclosure Review (IFR) process. Ranking Member Waters, a leading advocate for foreclosure… Read more »

Congressman Barney Frank, Ranking Member of the House Financial Services Committee, released the following statement about the announcement made yesterday by Federal Reserve Chairman Ben Bernanke on behalf of the Federal Open Market Committee. Yesterday’s decision by the Federal Open Market Committee to “maintain a highly accommodative stance for monetary policy” and to… Read more »

WASHINGTON – Congressman Barney Frank today released the following statement in the wake of the passage on Wednesday evening of two bills in the Capital Markets Subcommittee of the House Financial Services Committee which would eviscerate two important provisions of the Wall Street Reform and Consumer Protection Act.

WASHINGTON – Congressman Barney Frank today released the following statement about the successful Republican efforts in the Senate to block the nomination of Richard Cordray to head the Consumer Financial Protection Bureau:

Congressman Barney Frank today urged Financial Services Committee Chairman Spencer Bachus to hold a hearing on allegations of misconduct by Ally Financial in its dealings with homeowners. In his letter to Mr. Bachus, Frank expressed his support for a request for a hearing on Ally Financial by Massachusetts Attorney General Martha Coakley.  Yesterday, Coakley sent a letter to House… Read more »

WASHINGTON – On Tuesday at 2:30 PM, Congressman Barney Frank will hold a press conference to answer questions about his recent announcement that he will not run for re-election in 2012.

Congressman Barney Frank today announced that he will not run for Congress in the 2012 election. Frank began his political career in 1967 as the Executive Assistant to Mayor Kevin White of Boston.  In 1971, he served as the Administrative Assistant to Congressman Michael Harrington of Massachusetts.  In 1972, he was elected to the Massachusetts House of Representatives – he… Read more »

WASHINGTON – Congressman Barney Frank today released a letter to Spencer Baucus, Chairman of the House Financial Services Committee, urging him to take action on the STOCK Act.

Click here to read the letter.

WASHINGTON – Democratic Members of the House Financial Services Committee today released a joint letter to Senator Minority Leader Mitch McConnell (R-KY), calling for him to agree to a vote of the full Senate on the nomination of Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB).

WASHINGTON – During a markup in the Financial Services Committee today, Democrats cited evidence that Republicans are less committed to limiting compensation of executives of Fannie Mae and Freddie Mac than might be suggested by their support of the legislation under consideration, H.R. 1221, the “Equity in Government Compensation Act of 2011.”