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News Now

Washington
Inside Washington (03/24/2011)
* WASHINGTON (3/25/11)—Two congressional hearings of interest to credit unions were announced yesterday: one on the nation’s housing policy by the Senate Banking Committee and one on the implementation costs associated with the Dodd-Frank Wall Street Reform Act, to be conducted by a House subcommittee. The Senate Banking Committee will hold a hearing on public proposals for the future of the housing finance system on March 29 at 10 a.m. ET. Witnesses scheduled to appear are Michael Berman, chairman, Mortgage Bankers Association; Mark Zandi, chief economist, Moody’s Analytics; and Janneke Ratcliffe, senior fellow, Center for American Progress. Additional witnesses may be announced. In the House, the Financial Services subcommittee on oversight and investigations announce it will examine the costs and economic impact associated with implementing the approximately 300 rules created under the Dodd-Frank Act. The March 30, 2 p.m. (ET) session will feature witnesses from the government and academia. Subcommittee Chairman Randy Neugebauer (R-Texas), in announcing the hearing, said, “it is imperative for agencies to undertake a rigorous cost-benefit analysis of each (rule) to minimize these costs to the economy” …


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