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Bachus confirmed as Barney Frank's replacement

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Rep. Spencer Bachus (R-Ala.) is confirmed as the next House Financial Services Committee Chairman in the 112th Congress. Bachus was chosen by the GOP Steering Committee Tuesday, according to reports. Bachus was the expected choice to replace current chairman Barney Frank (D-Mass.) Some, such as Christopher Whalen of Institutional Risk Analytics, predict Frank would chair the Consumer Financial Protection Bureau being put together by Elizabeth Warren. Bachus press spokesman Tim Johnson did not take calls for confirmation. His office deferred calls to the House Financial Services Committee, where spokeswoman Marisol Garibay did not return press inquiries. Write to Jacob Gaffney.

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