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Rep. Frank to hold hearing on bill to lend automakers $25 bln

WASHINGTON
Wed Nov 12, 2008 1:34pm EST

WASHINGTON (Reuters) - Massachusetts Democratic Rep. Barney Frank said on Wednesday his congressional committee will hold a hearing next week to consider a bill to provide $25 billion in federal loans to U.S. auto manufacturers.

Frank, chairman of the House of Representatives Financial Services Committee, told reporters: "We will be having a hearing, by the way, a week from today on a bill that will be drafted to advance $25 billion in loans to the American auto companies."

(Reporting by Kevin Drawbaugh; Editing by Phil Berlowitz)


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