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News Now

Washington
House business lending hearing rescheduled for Feb. 26
WASHINGTON (2/19/10)--The House Financial Services Committee has rescheduled for Feb. 26 a previously postponed hearing on the state of small business and commercial real estate. The hearing will also feature members of the House Small Business Committee, which is chaired by Rep. Nydia Velazquez (D-N.Y.). Also, for a second time this year, the House Financial Services Committee will scrutinize financial industry compensation. The committee announced yesterday it will conduct a hearing entitled “Compensation in the Financial Industry – Government Perspectives” next week on Feb. 25. The hearing will focus on the pay practices of both private and public financial entities including AIG, Fannie Mae and Freddie Mac where the federal government plays a role in reviewing and/or approving compensation, the committee announcement said. The House has voted on two financial industry compensation bills. Last April the body approved legislation that would have regulated compensation at Fannie Mae, Freddie Mac, and TARP recipients. In July it passed a bill intended to executive compensation, The Wall Street Reform and Consumer Protection Act. Witnesses will be announced at a later date.


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