NEWS

House Financial Services Committee Will be Led by Spencer Bachus

Chad Outler | December 17, 2010

Dec. 17, 2010 -- The New York Times reports that the congressman representing Alabama's 6th District, Spencer Bachus, has been named the chairman of the House Financial Services Committee for the 112th Congress. Bachus formerly served as Chairman of the House Subcommittee on Financial Institutions and Consumer Credit.

According to Rep. Bachus's congressional website, the legislator "has been named Guardian of Small Business by the National Federation of Independent Business, Friend of the Taxpayer by Americans for Tax Reform, Friend of the Family by the Christian Coalition and has received the Spirit of Free Enterprise Award from the U.S. Chamber of Commerce."

The following are the top ten contributors to Bachus's campaign by interest group:

InterestContributions
Insurance$182,000
Real Estate$173,000
Banks and Credit$153,550
Securities & Investment     $137,000
Lawyers/Law Firms$75,460
Accountants$64,800
Misc Finance$52,000
Retail Sales$38,200
Health Professionals$32,450
Lobbyists$28,000

Rep. Spencer Bachus will replace Massachusetts Democrat Barney Frank as chair of the House Financial Services Committee. The following are the top ten contributors to Frank's campaign by interest group:

InterestContributions
Securities & Investment              $283,608
Real Estate$239,750
Insurance$238,449
Lawyers/Law Firms$179,724
Banks and Credit$134,000
Misc Finance$112,950
Casinos/Gambling$61,900
Lobbyists$61,800
Accountants$42,950
Business Services$37,750

Contributions above are for the last two years of available data, Oct 14, 2008 - Oct 13, 2010. Contributions from political parties and from other candidates are not included in the "Top 10" lists. Contributions data provided by the Center for Responsive Politics (OpenSecrets.org).

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