No matter which political party controls the House during next year’s 113th Congress, there will be a new House Financial Services Committee chairman in charge of setting the agenda as both the current chair and the ranking member are vacating their positions at the end of 2012.Rep. Spencer Bachus, R-AL, said this week he will observe the House’s six-year term limit rule for chairmen and ranking members and not seek a waiver with the House Republican Conference. On Nov. 28, Rep. Barney Frank, D-MA, the committee’s one-time chairman and current ranking member announced he would retire from Congress at the end of his present term. Bachus, who was elected to the House in 1992, is seeking re-election this fall.