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House Senate begin final financial reg reform debate
WASHINGTON (6/11/10)—The bicameral debate over the final version of financial regulatory reform legislation began in earnest with opening statements on Thursday, with the discussion, which was divided along party lines, focusing mainly on the perceived causes of the financial crisis. A series of day-long sessions are scheduled to follow on June 15, 16 and 17. Negotiations will continue between June 18 and 26, with final votes tentatively set to occur between June 28 and July 2. The discussions will be aired live on C-SPAN. House leaders Nancy Pelosi (D-Calif.) and John Boehner (R-Ohio) earlier this week named their respective Democratic and Republican conferees for the inter-chamber financial regulatory reform debate. House Financial Services Committee Chairman Barney Frank (D-Mass.) joins ranking committee member Spencer Bachus (R-Ala.) and Reps. Paul Kanjorski (D-Pa.), Joe Barton (R-Texas), Maxine Waters (D-Calif.), Sam Graves (R-Mo.), Carolyn Maloney (D-N.Y.), Darrell Issa (R-Calif.), Luis Gutierrez (D-Ill.) and Frank Lucas (R-Okla.). Reps. Mel Watt (D-N.C.), Lamar Smith (R-Texas), Gregory Meeks (D-N.Y.), Ed Royce (R-Calif.), Dennis Moore (D-Kan.), Judy Biggert (R-Ill.), Mary Jo Kilroy (D-Ohio), Shelley Moore Capito (R-W.Va.), Gary Peters (D-Mich.), Jeb Hensarling (R-Texas) and Scott Garrett (R-N.J.) are also taking part in the conference committee. Select other House members from the judiciary, energy, agriculture, government reform, and small business committees will also address portions of the bill that fall under their respective committee jurisdictions. The Senate named its own list of conferees, which includes Sen. Banking Committee leaders Chris Dodd (D-Conn.) and Richard Shelby (R-Ala.), among others, last week. It is thought that the interchange amendment could be addressed by the conference committee early next week. Hundreds of credit union representatives from across the country came to Washington this week to discuss credit union concerns over interchange with their legislators. Additionally, around 400,000 credit union backers from across the country have contacted their legislators via phone calls and email to urge them to remove the Senate interchange amendment from the final version of the bill. To contact your legislators, use the resource link.
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