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Washington
Hearings held ahead of Congresss spring break
WASHINGTON (3/15/11)--Potential action on the interchange front and a host of hearings will fill the congressional schedule prior to the Congress’s scheduled spring District Work Break, which starts once Congress adjourns this week. Congress will be back in session on March 28. Several news sources have indicated that Sens. Jon Tester (D-Mont.) and Bob Corker (R-Tenn.) are working on legislation that would delay implementation of the interchange provisions. (See related story: Interchange legislation could be introduced this week) That legislation could be introduced this week, and similar legislation could also be offered in the House. More definite items on the legislative slate include a discussion of a short-term continuing resolution that would fund the government through April 8. This would also need a Senate vote, assuming it passes the House. Also of interest to credit unions is House legislation that could eliminate the Obama administration’s Home Affordable Modification Program (HAMP) and the Neighborhood Stabilization Program (NSP). Housing finance will also be the topic of a Tuesday Senate Banking Committee hearing. U.S. Treasury Secretary Tim Geithner and Housing and Urban Development Secretary Shaun Donovan are expected to testify. A Wednesday hearing will also feature federal testimony, with the Consumer Financial Protection Bureau architect Elizabeth Warren covering oversight of that agency as she speaks before the House Financial Services Committee subcommittee on financial institutions and consumer credit. Debt reduction and the budget will be covered by a Tuesday Senate Budget Committee hearing and a Wednesday House Financial Services Committee hearing, respectively. The House capital markets subcommittee will discuss legislative proposals to promote job creation on Thursday. The Troubled Asset Relief Program is also set to be discussed by the Senate Banking Committee on Thursday.


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