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News Now

Washington
Congress Senate hearings on banking ratings on tap
WASHINGTON (8/4/09)--Although many House members have now left Washington for their yearly summer district work period, the Senate will remain busy this week, with several finance-related hearings planned. The first item on the Senate agenda that is of interest to credit unions is a Tuesday hearing before the Senate Banking Committee, entitled "Strengthening and Streamlining Prudential Banking Supervision.” Federal Deposit Insurance Corporation Chairman Sheila Bair, Comptroller of the Currency John Dugan, Federal Reserve Governor Daniel Tarullo and Office of Thrift Supervision Director John Bowman are scheduled to testify, with testimony from additional witnesses set to follow on a separate panel. The committee will also examine proposals to enhance credit rating agency oversight on Wednesday, witnesses to be announced. There is not a scheduled vote on the confirmation of Deborah Matz to join the National Credit Union Administration, but the Senate could add that vote to the agenda this week. Matz is expected to pass via unanimous consent once the vote takes place. While the House left Washington a week ahead of the Senate, the House Small Business Committee subcommittee on finance and tax on Tuesday will hold a hearing on easing small businesses' access capital. The hearing will take place in Salem, Ore. and Rick Hein, president and CEO of Corvallis, Ore.-based OSU FCU, will testify for the Credit Union Association of Oregon.


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