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News Now

Washington
Congress this week Senate awaits reform House committee bustling
WASHINGTON (3/9/10)--With the Senate Banking Committee awaiting the release of the Senate version of a comprehensive financial regulatory reform bill, much of the committee action for credit unions will take place on the House side. The House Financial Services Committee will open its week on Tuesday by holding a hearing entitled, "Community Development Financial Institutions (CDFIs): Their Unique Role and Challenges Serving Lower-Income, Underserved and Minority Communities." Witnesses set to testify during this hearing include Community Development Financial Institution Fund Director Donna Gambrell, Assistant Treasury Secretary for Financial Institutions Michael Barr, and various other witnesses. Financial services subcommittees will also be active, with the subcommittee on financial institutions discussing the regulation of money service businesses and the capital markets, insurance and government sponsored enterprises subcommittee discussing the role of the homeowners defense act in mitigating and managing the consequences of natural disasters. The Financial Services capital markets subcommittee will also convene on Thursday to discuss corporate governance, and the House subcommittee on housing and community opportunity on Thursday will discuss the Federal Housing Administration Reform Act of 2010. Despite the light hearing calendar, the Senate will be busy discussing possible House amendments to a jobs bill that was passed by the Senate last week.


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