WASHINGTON (Reuters) - The U.S. House of Representatives will deal with proposals to tighten financial regulation in late July or soon after Congress’s August recess, House Democratic Leader Steny Hoyer said on Tuesday.
“My thought is that regulatory reform will be very much a focus of the financial services committee next month, and that either late next month, but more probably early fall, we will deal with legislation dealing with regulatory reform,” Hoyer told reporters at a briefing.
The Obama administration was expected to unveil a comprehensive set of financial regulation reform proposals on Wednesday. Congressional committees have scheduled more than a dozen hearings on the issue between now and mid-July.
Reporting by Thomas Ferraro and Kevin Drawbaugh; Editing by James Dalgleish