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
St. Louis treasurer taps #creditunion to serve unbanked #NewsNow http://t.co/lWtcezJOej
12 hours ago
.@CUNAMutualGroup has committed $35K to @trustdotcoop over the next year to suppor the future of #creditunions.
13 hours ago
.@madison_mag gets the cooperative scoop from @SummitDoMore's @kimsponem http://t.co/RxSCeSegie
13 hours ago
.@VantageWestCU emeritus chairman Whittaker inducted into @DCUC_HQ Hall of Fame http://t.co/dpeP4ME49U
15 hours ago
Australian newspaper covers Gen Y tips from @ServusCU at @WOCCU conference http://t.co/xqmLfZVwaI
15 hours ago