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Senate Banking launches reg reform hearings
WASHINGTON (3/16/09)—The Senate Banking Committee will start a round of hearings this week that will focus on modernizing financial institution supervision and regulation. National Credit Union Administration Chairman Michael Fryzel and National Association of State Credit Union Supervisors (NASCUS) Chairman George Reynolds are scheduled to testify at the opening session Thursday. Reynolds is the Senior Deputy Commissioner of the Georgia Department of Banking & Finance. Also on that panel of regulators will be Comptroller of the Currency John Dugan, Federal Reserve Governor Daniel Tarullo, Federal Deposit Insurance Corp. Chairman Sheila Bair, Acting Director, Office of Thrift Supervision Scott Polakoff, and Commissioner of the Conference of State Bank Supervisors Timothy Karsky, of the North Dakota Department of Financial Institutions. The hearing is scheduled to cover subjects such as prudential and systemic risk regulation, consumer protection, and access to credit and risk management. The committee is next expected to convene financial industry witnesses, perhaps as early as next week.


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