Washington, DC – Today, Congressman Barney Frank (D-MA), Ranking Member of the House Committee on Financial Services, announced the Committee’s six subcommittee Ranking Members.  These recommendations will be forwarded to the Democratic Caucus for final approval.  In addition, the Democratic membership for the six subcommittees was also announced. 

Washington, D.C. – Congressman Barney Frank, Ranking Member of the House Financial Services Committee, released the following statement in response to the Department of Labor’s December 2010 jobs report released today:

Washington, D.C. – Congressman Barney Frank, Ranking Member of the House Financial Services Committee, released the following statement in response to Congresswoman Michele Bachmann’s effort to repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act:

WASHINGTON, D.C. – House Financial Services Chairman Barney Frank today issued the following statement:

“Some recent press reports have suggested that the Dodd-Frank Act requires only a one-time audit of the Federal Reserve System. That is incorrect. In fact, the act requires an unprecedented and permanent increase in Fed transparency; new authority for the GAO to audit the Fed whenever it chooses, and a requirement that the Fed itself, on a regular basis, publically disclose detailed information about discount window transactions and open market operations as well any transactions undertaken by any new facility that the Board of Governors may create.”

WASHINGTON, D.C. -- House Financial Services Chairman Barney Frank today issued the following statement:

“Spencer Bachus’ statement to the Birmingham News that ‘Washington and the regulators are there to serve the banks,’ followed ‘later’ according to the News by a clarification, makes two things very clear.  First, the assault he intends to lead against improved financial regulation is based on a seriously flawed view of the relationship that should exist between financial institutions and those who set the rules governing safety and soundness.  Second, Representative Bachus’ staff is going to be very busy getting him to retract statements in which he reveals what he really believes about a fundamental issue before the Committee.

Washington, D.C. – House Financial Services Committee Chairman Barney Frank (D-MA) issued the following statement today regarding Republican attacks on efforts by the Federal Reserve to use well-understood monetary policy tools in order to help boost the U.S. economy:

WASHINGTON, D.C. – House Financial Services Committee Chairman Barney Frank (D-MA) issued the following statement today on the Federal Housing Administration’s annual report to Congress, which shows that the economic value of the FHA’s Mutual Mortgage Insurance Fund (MMIF) has improved by $1 billion since last year:

House Financial Services Committee Chairman Barney Frank (D-MA) and House Ways and Means Committee Chairman Sander M. Levin (D-MI) issued the following statement today on the quantitative easing undertaken by the Federal Reserve.

WASHINGTON – Congressman Paul E. Kanjorski (D-PA), the Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, today joined in releasing and commented on the report of the staffs of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) to the Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues regarding the findings of the events of May 6, 2010, when major equities indices, individual stocks, and exchange traded funds rapidly fell and quickly recovered within a matter of minutes.  Chairman Kanjorski convened the first congressional hearing on the “flash crash” on May 11, 2010.

WASHINGTON, D.C. – House Financial Services Committee Chairman Barney Frank (D-MA) issued the following statement today on House passage of S. 3717:

Washington, DC – House Financial Services Committee Chairman Barney Frank (D-MA) issued the following statement on President Obama’s decision to appoint Elizabeth Warren as Assistant to the President:

Washington, DC – Today, Congressman Barney Frank (D-MA), Chairman of the House Financial Services Committee, and Congressman Paul E. Kanjorski (D-PA), Chairman of the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises released letters to the White House calling for the Federal Housing Finance Administration (FHFA) to use all of its powers to recover money from companies that used fraud and deceptive practices to shift losses on to Fannie Mae and Freddie Mac.

Newton, MA – Congressman Barney Frank, Chairman of the House Financial Services Committee, announced that the Committee will hold a hearing in September in order to explore concerns raised about the provision of the Wall Street Reform and Consumer Protection Act, which provides some exemption to the Securities and Exchange Commission regarding the Freedom of Information Act (FOIA).

Washington, DC – Congressman Paul E. Kanjorski (D-PA), the Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, announced today that he will convene a September hearing to assess the limitations of the Securities Investor Protection Act (SIPA), a law that works to return money and securities to the customers of failed brokerages.  The hearing comes at the request of Congressman Gary L. Ackerman (D-NY), the Vice Chairman of the Capital Markets Subcommittee, and builds on legislation recently enacted into law.  This Capital Markets Subcommittee hearing will be the second in the 111th Congress on SIPA.

Washington DC—House Financial Services Committee Chairman Barney Frank and Capital Markets, Insurance and Government Sponsored Enterprises Subcommittee Chairman Paul E. Kanjorski today announced that the committee will continue its series of hearings on the future of housing finance in September.  Chairman Kanjorski will conduct an oversight hearing of the GSEs, and the full committee will continue its examination of policy options for restructuring the nation’s housing finance system.

Washington, DC - Today, the House Financial Services Committee passed legislation to enable Americans to bet online and put an end to an inappropriate interference with their personal freedom.  H.R. 2267, the Internet Gambling Regulation, Consumer Protection, and Enforcement Act of 2009 would establish a federal regulatory and enforcement framework under which Internet gambling operators could obtain licenses authorizing them to accept bets and wagers from individuals in the United States.

Washington, DC – The House Financial Services Committee today passed the Public Housing Reinvestment and Tenant Protection Act (H.R. 5814),  legislation introduced by Congresswoman Maxine Waters (D-CA) to preserve and revitalize the nation’s public housing.

Washington, DC - House Financial Services Committee today approved H.R. 4868, the Housing Preservation and Tenant Protection Act of 2010, comprehensive affordable housing legislation introduced by Chairman Frank that helps to stem the loss of affordable rental housing units across the country and prevent the displacement of low-income tenants, many of who are elderly or disabled.

Chairman Frank, on behalf of the House conferees, released the House offer on the title listed below.  The title will be subject to debate when the House-Senate Conference Committee convenes in room SD-106, Dirksen Senate Office Building, at 9:30 a.m. tomorrow.

Chairman Frank, on behalf of the House conferees, released the House offer on the titles listed below.  The issues will be subject to debate when the House-Senate Conference Committee convenes in room SD-106, Dirksen Senate Office Building, at 1:00 p.m. tomorrow.

Today House and Senate conferees again met on the bill to bring accountability to Wall Street.

Last week was a successful week for the House and Senate conferees for the bill to bring accountability to Wall Street.  The bill creates a new consumer financial protection watchdog, ends too big to fail bailouts, sets up an early warning system to predict and prevent the next crisis, and brings transparency and accountability to exotic instruments such as derivatives.