DC Update for the Week of August 3rd Posted by AVCU on 10:18 AM

The Senate is in Washington this week to wrap up business before recessing for the August District Work Period. Among items on the Senate agenda this week are the Agriculture Appropriations Bill, additional funding for the "cash for clunkers" program, a vote on the nomination of Sonya Sotomayor to be an associate justice of the United States Supreme Court, and possibly consideration of the nomination of Debbie Matz to chair the board of the National Credit Union Administration. The House of Representatives is not in session this week. They recessed last Friday and reconvene on September 8th.

There are several committee hearings to follow this week. On Tuesday, the Senate Banking Committee will hold a hearing entitled, "Strengthening and Streamlining Prudential Banking Supervision." Also on Tuesday, the House Small Business Committee Subcommittee on Finance and Tax will hold a hearing entitled, "Exploring Ways for Small Businesses to Access Capital." This hearing will take place in Salem, Oregon. Rick Hein, CEO of OSU FCU in Corvallis, Oregon, will testify on behalf of the Credit Union Association of Oregon. On Wednesday, the Senate Banking Committee will hold a hearing entitled, "Examining Proposals to Enhance the Regulation of Credit Rating Agencies."