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News Now

Washington
Frank issues tentative reg restructure hearings schedule
WASHINGTON (6/19/09)--One day after the Obama Administration released its comprehensive financial regulatory reform proposal to the public, House Financial Services Committee Chair Rep. Barney Frank (D-Mass.) began the reform process in earnest, announcing a tentative schedule for future discussion on the issues. The first of many hearings will begin on the morning of June 24 as the Committee hosts a hearing on consumer issues. The Committee will reconvene after its July 4 district work period by holding a July 9 domestic monetary policy subcommittee hearing on the Federal Reserve’s role. Frank has speculatively scheduled additional hearings on financial regulation restructuring throughout July, beginning with a committee hearing on derivatives set for July 10 and general testimony from financial industry experts and academics on July 13. Markup of the possible regulatory legislation could start in late July, according to the schedule. However, according to the release, additional hearings and committee meetings should continue once the Congress returns to Washington in September. Treasury Secretary Timothy Geithner’s scheduled appearance before the committee, which was scheduled for Thursday, was postponed until a later date due to floor votes.


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