Things will start to wind down in Washington this week as lawmakers prepare for their summer vacations. Overly ambitious hearing plans have already been scaled back. But things aren´t over quite yet. Look for a flurry of activity coming out of the Treasury Department. Legislative language on a revamp of derivatives rules should be released, though the Treasury has not given a firm date and time. It will be the last piece of the Obama administration´s regulatory restructuring plan.
At 7pm, Federal Reserve Chairman Ben Bernanke will appear in a town-hall forum with PBS´ Jim Lehrer for an hour-long session, "Bernanke on the Record." The forum will take place in front of an audience at the Federal Reserve Bank of Kansas City. Excerpts from the program will be broadcast on Lehrer´s show News Hour over the coming week.
House Financial Services Committee Chairman Barney Frank, D-Mass., will address the National Press Club at 12:30pm. His speech will discuss the future of financial regulation.
House Financial Services will mark up a bill to regulate executive compensation. The markup will begin at 9:30am.
Meanwhile, the Senate Banking Committee will hold a 9:30am hearing on restructuring insurance regulation. Witnesses have yet to be announced.
Treasury officials will be meeting with the heads of the 25 largest mortgage servicers to discuss the progress (or lack thereof) they´ve made in modifying loan terms for delinquent borrowers.
The House Financial Services Subcommittee on Housing and Opportunity will hold a 10am hearing on "academic perspectives on the future of public housing." Witnesses have yet to be announced.
The Federal Deposit Insurance Corp.'s advisory committee on economic inclusion will meet to discuss prize-linked savings programs bringing underbanked consumers into the mainstream.