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News Now

Washington
House Senate set hearings on CFPB and oversight issues
WASHINGTON (7/26/11)--The House and Senate will move forward this week with hearings related to the Consumer Financial Protection Bureau (CFPB) and other oversight issues, all to the back drop of the Obama administration’s and U.S. Congress’ work to hammer out a plan to raise the debt ceiling limit. The House Small Business subcommittee on investigations, oversight and regulation is slated to examine the impact of the CFPB on small business in a hearing on Thursday. Dan Sokolov, CFPB deputy associate director for research, markets and regulations, Terry Jones, chairman of the Colorado Mortgage Lenders Association’s Legislative and Regulatory Affairs Committee, and Jess Sharp, executive director of the U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness are scheduled to testify. The CFPB officially opened for business on July 21, marking the one-year anniversary of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The House will consider the North American-Made Energy Act (H.R 2587), the Protecting Jobs from Government Interference Act and legislation related to the debt ceiling and the budget this week. The Senate schedule includes judicial nominations as well as debt ceiling legislation. Also of interest:
* A Senate Banking Committee hearing today will consider the nominations of Martin Gruenberg as chairman of the Federal Deposit Corporation; Thomas Curry to head the Office of the Comptroller of the Currency; and S. Roy Woodall Jr. as a member of the Financial Stability Oversight Council. * Also today, a Senate Finance Committee hearing will offer “Perspectives of Deficit Reduction: A Review of Key Issues.” * On Wednesday, the House Financial Services subcommittee on oversight and investigations will hold a hearing on “Oversight of the Credit Rating Agencies Post Dodd-Frank.”


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