Bachus selected to be the next chairman of Financial Services panel

The GOP Steering Committee chose Rep. Spencer Bachus (R-Ala.) to serve as House Financial Services Committee Chairman in the 112th Congress.

Bachus won the endorsement to keep his post as top-ranking Republican on the Financial Services Committee over Rep. Ed Royce (R-Calif.)

The full House GOP Conference is set to vote on the slate of committee chairmen selected by the Steering Committee on Wednesday morning.