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News Now

Washington
Whats ahead this week in committee hearings
WASHINGTON (4/28/09)--This week’s congressional hearings schedule is a bit lighter than usual--but there are still some issues relevant to credit unions, such as the mark up of a mortgage reform bill. On Tuesday, the House Financial Services Committee is set to mark up H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act of 2009. The bill was introduced in March by Reps. Brad Miller (D-N.C.) and Mel Watt (D-N.C.), and intends to curb predatory lending practices. CUNA submitted a letter to the committee regarding the legislation last week. CUNA supports the bill’s intent but said that lawmakers should revise existing mortgage lending laws before pressing for additional laws that could be redundant or conflicting with new regulations. Also on Tuesday, the Senate Banking Committee plans to meet on several pending nominations to the Treasury Department. On Thursday, the Joint Committee on Economics plans to hold a hearing on the economic outlook.


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