The House Financial Services Committee plans to tackle terrorism risk insurance and credit reports this week.
The committee has a hearing planned for Tuesday to find ways to make it easier for consumers to correct information on their credit reports under the Fair Credit Reporting Act.
The capital markets subcommittee plans to meet Thursday on the Terrorism Risk Insurance Act. The law, enacted after the Sept. 11 attacks to provide insurers a temporary federal backstop, is due to expire at yearend. Two Massachusetts Democrats, House Financial Services Chairman Barney Frank and Rep. Mike Capuano, are expected to unveil a bill today that would extend and revise the program.
Rep. Paul Kanjorski, the Pennsylvania Democrat who chairs the capital markets subcommittee, said in an e-mail to American Banker that he hopes to have a "vigorous and robust debate about all of the provisions contained in their proposal."
On June 26 the full committee plans to vote on at least two other pending bills, including one sponsored by Rep. Frank to reform the National Flood Insurance Program. That bill passed the House last year but stalled in the Senate.
