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
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
18 hours ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
20 hours ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
21 hours ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
21 hours ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
21 hours ago