Dodd-Frank Act

By Bill Britt Alabama Political Reporter As the administration of President Donald J. Trump moves to dismantle Obama-era regulations on lending, the opposite is true here in Alabama, where some legislators are pushing for more rules, not less. Earlier this month, the Trump administration signaled its intentions to roll back and limit the powers of … Continued

By Brandon Moseley Alabama Politcal Reporter Tuesday, December 8, US Senator Richard Shelby (R-Alabama) urged legislators to repeal the controversial Dodd-Frank Act. Sen. Richard Shelby said in a statement, “More than five years ago, the 2,300 page financial overhaul known as Dodd-Frank was signed into law. Since its enactment, the negative impacts of Dodd-Frank on … Continued

By Brandon Moseley Alabama Political Reporter U.S. Senator Richard Shelby (R) from Alabama issued a written statement after remarks he made on Thursday at a hearing on the Financial Stability Oversight Council’s Annual Report to Congress.  Sen. Shelby is the ranking Republican on the Committee on Banking, Housing and Urban Affairs. Sen. Shelby said, ““In … Continued

By Brandon Moseley Alabama Political Reporter Congressman Spencer Bachus (R) from Vestavia announced in a written statement that the House Final Services Committee will be holding hearings throughout the month of July to examine the impact that the Dodd–Frank Wall Street Reform and Consumer Protection Act (H.R. 4173) was having on jobs, the economy, and … Continued

By Brandon Moseley Alabama Political Reporter Congressman Spencer Bachus (R) from Vestavia released a statement following the House Financial Services Committee hearing on the recent JPMorgan Chase loss in speculative trading.  Representative Bachus is the Chairman of the House Financial Services Committee. Rep. Bachus said, “When America’s largest bank reveals it has suffered an unexpected … Continued

By Brandon Moseley Alabama Political Reporter Congressman Spencer Bachus (R) from Vestavia issued a written statement Wednesday criticizing  new federal regulations that could prevent stay-at-home moms and other spouses who earn less than their husband or wife from qualifying for credit. During a House Financial Services Committee subcommittee hearing, Bachus called the rule “discriminatory.”  Rep. … Continued

By Brandon Moseley Alabama Political Reporter Congressman Spencer Bachus (R) from Vestavia stated on Monday that the House Financial Institutions and Consumer Credit Subcommittee of the House Committee on Financial Services will be holding a hearing on the cost of new federal regulations on the banking and lending industries. Representative Bachus said, “More than 400 … Continued

By Brandon Moseley Alabama Political Reporter The House Financial Services Committee will vote on legislation Wednesday that reduces the deficit by $35 billion.  The plan would help avert “catastrophic” automatic spending cuts to national security. Rep. Spencer Bachus (R) from Vestavia is the Chairman of the Financial Services Committee.  Rep Bachus said in a written … Continued