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News Now

Washington
Heavy hearing schedule in House Senate
WASHINGTON (10/4/11)--With the House and Senate both returning to Washington this week, a number of hearings are on the agenda. One hearing credit unions will want to watch is today’s Senate Banking Committee financial institutions subcommittee hearing entitled: “Consumer Protection and Middle Class Wealth Building in an Age of Growing Household Debt.” Doug Fecher, president/CEO of Fairborn, Ohio-based Wright-Patt FCU, will testify on his own behalf during that hearing. Federal Reserve Chairman Ben Bernanke will also be active on the Hill today, as Bernanke discusses the nation’s economic outlook before the Joint Economic Committee. Another pair of high profile hearings will take place on Thursday, as U.S. Treasury Secretary Tim Geithner delivers the Financial Stability Oversight Council’s yearly report to Congress in separate remarks before the House Financial Services Committee and the Senate Banking Committee. Other hearings of note include:
* A Tuesday House Judiciary Committee hearing on a potential balanced budget amendment to the U.S. Constitution; * A Wednesday Senate Banking Committee economic policy subcommittee hearing on the economic implications of federal budget deficits; * A Thursday Senate Finance Committee hearing entitled: “Tax Reform Options: Incentives for Homeownership,” and * A Thursday House Financial Services Committee insurance, housing and community opportunity subcommittee hearing on the Obama administration’s response to the housing finance crisis.
Markup sessions on a bill that would amend securities law to establish shareholder registration thresholds, the Private Company Flexibility and Growth Act (H.R. 2167), the Entrepreneur Access to Capital Act (H.R. 2930), the Access to Capital for Job Creators Act (H.R.2940), and the Small Company Job Growth and Regulatory Relief Act of 2011 are also on the House Financial Services Committee’s capital markets subcommittee Wednesday schedule. The Joint Select Committee on Deficit Reduction is expected to hold private meetings this week, and potential Consumer Financial Protection Bureau leader Richard Cordray is scheduled to face a Senate Banking Committee confirmation vote. (See related story: Cordray CFPB vote set for this week) Legislation that would continue to fund the government and extend the National Flood Insurance Program until Nov. 18 is set for a House vote today. The House is also scheduled to hold votes on H.R. 1343, a bill that would return unused or reclaimed funds made available for broadband improvements to the Treasury, H.R. 2681, the Cement Sector Regulatory Relief Act, and H.R. 2250, the Environmental Protection Agency (EPA) Regulatory Relief Act, this week.


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