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Garrett Introduces Amendment to Study FAS 166 and 167
Nov 18, 2009
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Rep. Scott Garrett (R-NJ) offered an amendment to conduct a study of FAS 166 and 167 during the Financial Services Committee markup of the Financial Stability Improvement Act of 2009. This amendment would require the Financial Accounting Standards Board (FASB) to conduct a study of the combined impa...
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Garrett Amendment Strikes New Fed Powers
Nov 18, 2009
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Rep. Scott Garrett (R-NJ) offered an amendment to strike the new powers given to the Federal Reserve within the Financial Stability Improvement Act of 2009, during the Financial Services Committee markup of the legislation.
Section 1104, subsection (5) is included below:
MITIGATION OF SYSTEMIC ...
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Garrett Expresses Further Concern Regarding FHA Capital Ratio
Nov 12, 2009
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Rep. Scott Garrett (R-NJ) issued the following statement in response to the Federal Housing Administration (FHA) announcement that the capital reserve ratio dropped below the 2% Congressionally-mandated level to 0.53%:
“The American taxpayers are tired of bailouts. The FHA announcement that their c...
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Garrett Statement on Committee Passage of SOX Amendment
Nov 4, 2009
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Rep. Scott Garrett’s (R-NJ) Sarbanes-Oxley amendment to the Investor Protection Act of 2009, cosponsored by Rep. John Adler (D-NJ), was approved by the Financial Services Committee today by a roll call vote of 37-32.
This amendment would exempt small businesses from the burdensome reporting require...
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Garrett Introduces SOX Exemption for Small Businesses
Oct 8, 2009
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Rep. Scott Garrett (R-NJ) introduced legislation today to exempt small businesses from Section 404(b) of the Sarbanes-Oxley (SOX) Act of 2002.
Garrett’s bill, the “Small Business SOX Compliance Relief Act” is aimed at permanently exempting small businesses (non-accelerated filers) from the burdenso...
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Garrett Opening Statement for Federal Reserve Regulatory Reform Hearing
Oct 1, 2009
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Rep. Scott Garrett (R-NJ) released the following opening statement for today’s House Financial Services hearing entitled “Federal Reserve Perspectives on Financial Regulatory Reform Proposals”:
“I thank Chairman Frank for holding this hearing and I welcome Chairman Bernanke back to the Committee...
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Garrett Introduces FHA Bill Requiring 5% Down Payment
Oct 1, 2009
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Rep. Scott Garrett (R-NJ) is introducing legislation today to require borrowers under Federal Housing Administration (FHA)-insured mortgages to make down payments of at least 5%.
Garrett’s bill, the “FHA Taxpayer Protection Act of 2009” is aimed at shielding taxpayers from the risk that the FHA ...
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Garrett Statement on Credit Rating Agencies for Financial Services Hearing
Sep 30, 2009
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Rep. Scott Garrett (R-NJ) released the following opening statement for today’s House Financial Services Subcommittee on Capital Markets hearing entitled “Reforming Credit Rating Agencies”:
“Thank you, Chairman Kanjorski, for holding this important hearing today and for all of the hard work you a...
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Garrett Introduces Taxpayer-Friendly Solution for Infrastructure Funding
Sep 16, 2009
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Rep. Scott Garrett (R-NJ) re-introduced the STATE (Surface Transportation and Taxation Equity) Act today, H.R. 3595, which returns primary responsibility for transportation and infrastructure projects back to the states without increasing taxes. Under this legislation, states would have the ability ...
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