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News Now

Washington
House Financial Services schedule includes examination issues
WASHINGTON (11/22/11)—The House Financial Services Committee has announced its schedule for the two weeks following the upcoming Thanksgiving break.

The most relevant hearings for credit unions will take place in the first full week of December, as the full Financial Services Committee discusses how new regulations are impacting financial institutions, small businesses and consumers in a Chicago-based Dec. 5 field hearing.

The full committee will also meet at 10:00 a.m. ET on Dec. 6 to discuss the STOCK Act (H.R. 1148). Dec. 6 will also feature a 2:00 p.m. ET House financial institutions subcommittee hearing on H.R. 3461, a bill that would allow financial institutions to appeal examination reports from federal financial regulators and provide further clarity to those regulators.

CUNA has backed this bill, saying it is "recognition that Congress is taking the concerns that we and others have raised regarding examinations seriously." (See related story: CUNA backs examination improvement bill)

The committee also announced the following on Monday:
  • A Tuesday, Nov. 29 House insurance, housing and community opportunity subcommittee field hearing on the manufactured housing industry;
  • A Wednesday, Nov. 30 full committee markup session on H.R. 3213, the Small Company Job Growth and Regulatory Relief Act of 2011; H.R. 2682, the Business Risk Mitigation and Price Stabilization Act of 2011; H.R. 2779, to exempt inter-affiliate swaps from certain regulatory requirements put in place by the Dodd-Frank Act; and H.R. 2586, the Swap Execution Facility Clarification Act;
  • A Thursday, Dec. 1 full committee hearing on the Federal Housing Administration's Single Family Insurance Fund and a separate oversight and investigations subcommittee hearing on the Federal Housing Finance Agency's performance as conservator of Fannie Mae and Freddie Mac;
  • A Wednesday, Dec. 7 capital markets subcommittee hearing on the "Private Mortgage Market Investment Act;" and
  • A Thursday, Dec. 8 House insurance, housing and community opportunity subcommittee markup session of bills related to the Real Estate Settlement Procedures Act, the Dodd-Frank Act, and housing issues.


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