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Feds semiannual monetary report tops hearings this week
WASHINGTON (7/20/10)--Federal Reserve Chairman Ben Bernanke this week will deliver the semiannual monetary policy report to the Senate Banking Committee this Wednesday. The House Financial Services Committee will receive the same report on Thursday. Finance will also be discussed in the Senate on Tuesday as the banking committee’s subcommittee on security and international trade and finance discusses the oversight of international cooperation to modernize financial regulation. Closer to home, Discovery FCU’s President/CEO Ed Williams will testify on behalf of the Credit Union National Association as the House Financial Services Committee holds a hearing on H.R. 2267, the Internet Gambling Regulation, Consumer Protection and Enforcement Act. H.R. 2267, which was introduced by Rep. Barney Frank (D-Mass.), would give the U.S. Treasury the authority to license internet gambling operators to accept bets and wagers from U.S. citizens and to create regulations for those gambling operators. CUNA has said that while it supports efforts to eliminate payments to unlawful Internet gambling businesses, the regulations imposed by the Unlawful Internet Gambling Enforcement Act (UIGEA) are overly burdensome.

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