Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
House holds hearing on consumer protections
WASHINGTON (6/24/09)--Rep. William Delahunt (D-Mass.) will join a number of academics and industry insiders when he testifies at a House Financial Services Committee hearing on consumer protection today. The hearing, entitled “Regulatory Restructuring: Enhancing Consumer Financial Products Regulation,” will be the first of many upcoming hearings to address the Obama Administration’s financial regulatory restructuring proposal. The hearing is set to begin at 10 a.m. in the Rayburn House Office Building. Delahunt will testify alone during the opening panel discussion, with two grouped discussion panels to follow. The committee will take up further discussion of financial regulatory reform both this week and following the July 4 district work period, with hearings on the Federal Reserve and derivatives among the scheduled topics. The House Financial Services Committee’s subcommittee on financial institutions and consumer credit will discuss the role that financial literacy could play in the proposed Consumer Financial Protection Agency at a Thursday hearing. Topics covered by this discussion will also include how “transparent, consumer friendly products” can be implemented by the new regulatory agency. In statements accompanying a release on the subcommittee's hearing, subcommittee chair Rep. Luis V. Gutierrez (D-Ill.) said that financial literacy is “vital” to consumers, adding that consumers cannot stop worrying about fraudulent or misleading business practices “just because Congress has outlawed some of the most predatory mortgage and credit card practices.” The Financial Services Committee is expected to begin its markup of legislation in late July, which could be presented to the full House of Representatives beginning in September. For the full witness list, use the resource link.
Other Resources

RSS





print
News Now LiveWire
HFSC Chairman @RepHensarling announces subcommittee chairs for #114th Congress: http://t.co/FGnvnogI7n
12 hours ago
Don't Mullet Over: Check out @ECCU1's meme-rable campaign that brought in $8M in loans #NewsNow http://t.co/vNh2q01gcg
14 hours ago
#FOMC minutes show committee members debated erasing 'considerable time' from forward guidance #NewsNow #Market http://t.co/Gw0bEIFCe2
16 hours ago
NCUA votes 2 to 1 to approve 2015 budget: McWatters is dissenting vote.
17 hours ago
.@TheNCUA bd mmber McWatters at #NCUAbdmeeting invited specific, detailed comments on budget/budgetary process to be sent directly to him.
18 hours ago