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House Financial Services announces May hearings
WASHINGTON (4/19/11)--Hearings on the impact of regulations and government policies on job creation and the economy in general have been tentatively scheduled for May by House Financial Services Committee Chairman Spencer Bachus (R-Ala.). An in-depth review of the Dodd-Frank Act, and a markup of legislation that would extend the deadline of some derivative-related portions of that Act, is set for May 12. National Flood Insurance Program reauthorization and the Consumer Financial Protection Bureau (CFPB) will also be discussed during that hearing. CFPB-related bills will also be marked up on May 4, and a subcommittee will examine the Federal Reserve’s compliance with the Dodd Frank Act and the Freedom of Information Act on May 11. The House subcommittee on capital markets and government sponsored enterprises will hold a hearing on a to-be-determined topic later on that same day. The committee on May 3 will focus on job creation and capital formation. Bachus in the release said that the economy needs “government policies that promote growth, job creation and a competitive financial marketplace.” The U.S. Treasury Department will deliver its yearly report on the international finance system on May 5. The committee in a release noted that the schedule “remains tentative and will depend upon witness availability and other factors that may require changes.” Witnesses for the hearings will be announced in the near future. Members of congress will be in their home districts until early May. The Credit Union National Association has urged credit union backers nationwide to contact their representatives during this in-district work period. (See related April 14 story: CUNA’s Cheney: Further interchange action is critical)


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