House Financial Services Committee To Start Markup Of Systematic Risk Bill Wednesday

By Meagan Wiseley – University of New Mexico/Talk Radio News Service

Chairman of the House Financial Services Committee Barney Frank (D-Mass.) told reporters at a press conference Tuesday that debate and markup of the Investor Protection Act will begin Wednesday and markup of other systematic risk legislation will follow.

“We will start the markup…beginning tomorrow, and everyday that the House is in session until we finish,” Frank said.

Following the consideration of the Investor Protection Act of 2009, the committee will begin markups of the Federal Insurance Office Act of 2009, the Financial Stability Improvement Act of 2009 and the Overdraft Protection Act.

Frank added that he expects aspects of the larger financial regulatory reform legislation, including the creation of the Consumer Financial Protection Agency, to be voted on by December.

“The earliest we can get to the floor will be the first week in December,” Frank said.