Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
TARP FHA focus of early House hearings
WASHINGTON (12/30/08)—The House Financial Services Committee has scheduled a Jan. 7 hearing to review the U.S. Treasury Department’s use thus far of the $700 billion in Troubled Asset Relief Program funds. Frank has been highly critical of the way the Treasury has handled the Capital Purchase Program, a part of TARP. In December, he called a TARP hearing just on the heels of a Government Accountability Office report on Treasury's implementation of TARP. Referring to the GAO report, Frank said at the time, "The American people received two kinds of news about the TARP program – bad and worse news." He said the report confirms that Treasury has no way to measure whether taxpayer funds invested in banks are being used in accordance with the purpose of the law. He added, "The much worse news is Treasury's response that it does not even have the intention of doing so." Also in January, the committee has also announced a hearing on the ninth on the Federal Housing Administration’s oversight of home mortgage loan originators. Witnesses have not been announced for either hearing. The Congress reconvenes Jan. 6. President-elect Barack Obama will be sworn into office Jan. 20.


RSS print
News Now LiveWire
.@TheNCUA open board meeting starts at 10 a.m. ET tomorrow. It is board member J. Mark McWatters' first. Watch @NewsNowLiveWire
10 hours ago
.@CFPB is proposing to oversee larger nonbank auto finance companies for the first time at the federal level.
10 hours ago
.@CUNA's Bill Hampel moderates a discussion on the future of credit unions in the post-100 million member world. http://t.co/kcXykiRQVn
13 hours ago
#Breaking: QE likely to end next month, @federalreserve says #NewsNow #Market http://t.co/u7Fb5l5fwM
13 hours ago
.@Experian study confirms that building a credit history is beneficial to financial marginalized communities. 64M are "credit invisibles"
13 hours ago