In January, Rep. Randy Neugebauer, R-Tex., will become chairman of a House Financial Services subcommittee where he will conduct extensive oversight hearings on regulatory implementation of the Dodd-Frank Act.
The Texas congressman told a Consumer Federation of America conference recently that he is "not a big fan of the consumer protection piece of that legislation."
He expects Congress will work on a Dodd-Frank technical corrections bill next year and he wants to bring the new Consumer Financial Protection Bureau under tight congressional control. "That would be one thing on the top of my list," Neugebauer said.
Rep. Spencer Bachus, R-Ala., the incoming chairman of the House Financial Services Committee, also appointed Rep. Scott Garrett, R-N.J. to chair the capital markets and GSE subcommittee, where he can play a key role in determining the future of Fannie Mae and Freddie Mac.
Rep. Judy Biggert, R-Ill., will chair the housing subcommittee with jurisdiction over the Federal Housing Administration. And Rep. Shelley Moore Capitol, R-W.Va., will chair the financial institutions subcommittee.
"By working together, we will honor our commitment to aggressive oversight, reform of the GSEs and monitoring the implementation of the Dodd-Frank Act to ensure more jobs aren't lost to unnecessary regulations on community banks and businesses," Rep. Bachus said.
(See related story on this website about Reps. Bachus and Issa being confirmed as committee chairs.)
