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News Now

Washington
House Senate see stacked committee schedules
WASHINGTON (2/2/10)--While credit unions may be awaiting action on several pieces of pending legislation, including financial regulatory reforms, there will be no shortage of other action in the congressional committees this week. The Senate Banking Committee on Tuesday will hold a hearing on "Prohibiting Certain High-Risk Investment Activities by Banks and Bank Holding Companies," with the House Budget Committee discussing President Barack Obama's budget for the 2011 fiscal year. Thursday will be heavy on finance for the Senate side of Congress, with the Senate Banking Committee scheduled to discuss constraining risky investment activity by banks and financial institutions and the the Senate Commerce, Science and Technology Committee set for a hearing on the role of the Federal Trade Commission in protecting consumers of financial products. The House Financial Services Committee and the House Small Business Committee on Friday were scheduled to end the week by holding a joint hearing on small business and commercial real estate lending in smaller markets, but that hearing has been postponed until further notice. However, credit union issues will be presented directly to members of Congress during a Friday joint Credit Union National Association / World Council of Credit Unions congressional staff briefing on the state of credit unions in Afghanistan. On the political end, the Senate Rules and Administration Committee, the House Judiciary Committee Subcommittee on the Constitution, Civil Rights and Civil Liberties, and the House Administration Committee will all hold separate hearings this week on the recent Supreme Court decision to allow unlimited corporate and non-profit spending in elections.


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