WASHINGTON - Rep. Henry B. Gonzalez, D-Tex., chairman of the House Banking Committee, is opposing another Democrat's efforts to schedule an early-September vote on legislation to ease some banking regulations.
Rep. Frank Annunzio of Illinois, chairman of the panel's financial institutions subcommittee, last week said he would schedule a markup session Sept. 10 if he got a hearing room.
But aides to Rep. Gonzalez Opposed the markup and suggested that Rep. Annunzio wait until next year, when the "regulatory burden" proposals could be considered in the context of other legis]ation. Rep. Annunzio however, is not running for reelection this fall.
The bill has almost no chance of being enacted this year, but a subcommittee markup could give the industry an assist on other legislation. A Senate bill overhauling the regulation of government-sponsored enterprises, for example, includes a number of minor regulatory fixes for banks.
Indirect Effect
"If they mark up the bill in subcommittee, it would make it easier for the House to accept whatever comes over from the Senate in the GSE bill," said Edward L. Yingling, executive director of government relations for the American Bankers Association.
Worried that Rep. Annunzio would scrub the markup in deference to Rep. Gonzalez, two committee Republicans sent the Illinois Democrat a letter.
"It was our understanding from you and the subcommittee's staff director, Curt Prins, that such a date was possible, if the banking committee's hearing room was available," they wrote. If it were not available, "we would be pleased to assist the subcommittee in finding another committee hearing room."
The letter was signed by Rep. Chalmers Wylie of Ohio, the banking committee's ranking Republican, and Rep. Doug Bereuter of Nebraska. The two co-sponsored the regulatory relief bill with Rep. Annunzio.
