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News Now

Washington
Regulatory reviews scheduled this week
WASHINGTON (2/8/11)—The House and Senate have relatively light legislative calendars this week, as the Senate on Wednesday will recess for the Senate Democratic Caucus retreat, but credit unions will be interested in several regulation-related actions. The House on Wednesday will discuss and potentially vote on a resolution that would direct congressional committees to inventory and review existing, pending, and proposed regulations and orders from various federal agencies. Regulatory review will also be a focus of House committees, with the House Oversight and Government Reform Committee examining regulatory impediments to job creation on Thursday. That job creation focus will also be evident during a Wednesday House Financial Services Committee subcommittee on domestic monetarypPolicy and technology hearing on the Federal Reserve’s role in job creation. The House Financial Services Committee will markup its oversight plan on Thursday, and that committee’s capital markets subcommittee will examine potential reforms to government-sponsored enterprises Fannie Mae and Freddie Mac on Wednesday. Witnesses for that hearing will include the Cato Institute’s Mark Calabria, American Enterprise Institute resident fellow Alex Pollock, the Reason Foundation’s Anthony Randazzo, and Sarah Wartell of the Center for American Progress. Several other GSE hearings have been planned, subcommittee Chair Scott Garret (R-N.J.) said. More generally, the state of the U.S. economy will be covered as Federal Reserve Chairman Ben Bernanke appears before the House Budget Committee on Wednesday.


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