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Washington
House adds compensation hearing delays housing finance
WASHINGTON (2/26/10)—The House Financial Services Committee this week announced a couple of changes to its hearing schedule, including a new hearing on compensation in the financial industry added to yesterday’s agenda. During that session, entitled “Compensation in the Financial Industry – Government Perspectives,” the financial services panel’s focus was on the pay practices of both private and public financial entities, such as AIG, Fannie Mae and Freddie Mac where the federal government plays a role in reviewing and approving compensation. The Thursday hearing was the committee’s second this year on the issue of financial industry compensation. Witnesses for this go around included: Kenneth Feinberg, Special Master for TARP Executive Compensation, U.S. Department of the Treasury; Scott Alvarez, general counsel, Federal Reserve Board; and Edward DeMarco, acting director, Federal Housing Finance Agency. A scheduling change announced this week involved a delay of the committee’s planned hearing entitled, “Housing Finance and the Path to Reform: Part 1-Government and Stakeholder Perspectives.” Originally scheduled for March 2, the hearing has been rescheduled, date and time to be announced at a later date.
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