June 10, 2010
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On June 9, House Speaker Nancy Pelosi (D-CA) appointed several Democratic House members to the conference committee on the financial reform bill, H.R. 4173. House Financial Services Committee Chairman Barney Frank (D-MA) will serve as the chair of the conference committee. The other Democratic Financial Services Committee members Pelosi appointed are Luis Gutierrez (D-IL), Paul Kanjorski (D-PA), Mary Jo Kilroy (D-OH), Gregory Meeks (D-NY), Dennis Moore (D-KS), Gary Peters (D-MI), Maxine Waters (D-CA), and Melvin Watt (D-NC).

Speaker Pelosi also appointed several Democrats to serve on the conference committee to discuss specific issues within each committee’s jurisdiction: 
  • From the Committee on Agriculture: Collin Peterson (D-MN), chair; and Leonard Boswell (D-IA), chair, Subcommittee on General Farm Commodities and Risk Management
  • From the Committee on Energy and Commerce: Henry Waxman (D-CA), chair; and Bobby Rush (D-IL), chair, Subcommittee on Commerce, Trade, and Consumer Protection
  • From the Committee on the Judiciary: John Conyers (D-MI), chair; and Howard Berman (D-CA)
  • From the Committee on Oversight and Government Reform: Edolphus Towns (D-NY), chair; and Elijah Cummings (D-MD)
  • From the Committee on Small Business: Nydia Velazquez (D-NY), chair; and Heath Shuler (D-NC), chair, Subcommittee on Rural Development, Entrepreneurship and Trade

The same day, House Republican Leader John Boehner (R-OH) appointed the following Republican members to the conference committee: Spencer Bachus (R-AL), ranking member, House Financial Services Committee; Joe Barton (R-TX), ranking member, House Energy and Commerce Committee; Sam Graves (R-MO), ranking member, House Small Business Committee; Darrell Issa (R-CA), ranking member, House Oversight and Government Reform Committee; Frank Lucas (R-OK), ranking member, House Agriculture Committee; Lamar Smith (R-TX), ranking member, House Judiciary Committee; and Financial Services Committee members Judy Biggert (R-IL), Shelley Moore Capito (R-WV), Scott Garrett (R-NJ), Jeb Hensarling (R-TX), and Ed Royce (R-CA).
 
The conferees from the Senate Banking Committee are Chairman Christopher Dodd (D-CT), Ranking Member Richard Shelby (R-AL), Tim Johnson (D-SD), Jack Reed (D-RI), Charles Schumer (D-NY), Bob Corker (R-TN), Mike Crapo (R-ID), and Judd Gregg (R-NH).  From the Agriculture Committee, the Senate appointed Chairwoman Blanche Lincoln (D-AR), Ranking Member Saxby Chambliss (R-GA), Tom Harkin (D-IA), and Patrick Leahy (D-VT).
 
Frank has stated the conference committee will meet June 10 for opening statements and to discuss organizational issues. The committee will meet several times over the next two weeks and hopes to complete action on its report by June 24.  This would give the House and Senate one week to pass the final bill before the July 4 recess, which they have targeted as their deadline. Much of the conference committee’s meetings will be televised live on C-SPAN.
 
As NCSHA has explained in blog posts on May 21 and May 5, NCSHA continues to work on key issues for state HFAs in financial reform legislation, including “risk retention” provisions that might make it more difficult for HFAs to issue tax-exempt housing bonds, provisions that could limit the ability of HFAs to use swaps and other derivative financial products, and funding contained in the House-passed bill for emergency mortgage assistance and the Neighborhood Stabilization Program.

The Senate financial reform bill was passed on May 20. For more information on the Senate bill, see NCSHA’s summary. The House financial reform bill was passed on December 11.  For more information on the House bill, see NCSHA’s summary.