Banking Chairmen Release Additional Conference Details
As the 43 House and Senate conferees today begin debating reforms related to insurance, credit rating agencies, the thrift charter, and private funds within the financial regulatory reform bill, House Financial Services Chairman Barney Frank (D-MA) and Senate Banking Committee Chairman Christopher Dodd (D-CT) announced further details of the conference committee agenda over the next couple of weeks.
Most notably, the two most contentious items of financial reform—the newly-created Consumer Financial Protection regulator and the enhanced oversight of derivatives—will be dealt with next week according to the schedule. The somewhat divisive resolution authority provisions (aimed at preventing “too-big-to-fail”) will be considered this Thursday. Below is the tentative schedule:
Week 1 (The week of June 14)
Wednesday, June 16
- Title 9, subtitles A, B, F, H, I and J of base text: Investor protection/regulatory improvements
- Title 9, subtitles E and G of base text: Executive compensation/corporate governance
- Title 11 of base text: Fed audit and governance, and emergency liquidity provisions
Thursday, June 17
- Titles 1, 2 and 8: Systemic risk regulation, resolution authority, payments/clearing/settlement
Week 2 (The week of June 21)
- Consumer Protection Agency, CFPA/CFPB
- Predatory lending
- Interchange
- Remittances
- Access issues
- Prudential regulation
- Derivatives; miscellaneous
DOWNLOAD: HR 4173 - Conference Base Text (PDF)
