12/11/09 12:47 PM
POSTPONED PROCEEDINGS - At the conclusion of debate on the Bachus amendment, the Chair put the question on adoption of the amendment and by voice vote, announced the noes had prevailed. Mr. Bachus demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
12/11/09 12:07 PM
DEBATE - Pursuant to the provisions of H.Res. 964, the Committee of the Whole proceeded with 30 minutes of debate on the Bachus amendment in the nature of a substitute, as modified.
Bachus amendment modified by the order of the House of December 10, 2009.
Amendment in the nature of a substitute offered by Mr. Bachus.
12/11/09 12:07 PM
An amendment numbered 36 printed in House Report 111-370 to provide an alternative bill that establishes a new chapter of the bankruptcy code to resolve certain non-bank financial institutions; creates a consumer protection council comprised of existing Federal regulators to revise and promulgate model regulations to enhance consumer protection and improve disclosure; strengthens anti-fraud provisions; regulates over-the-counter derivatives markets; addresses executive compensation; removes statutory reliance on credit ratings; reforms the Government Sponsored Enterprises (Fannie Mae and Freddie Mac); and creates a Federal Insurance Office.
12/11/09 12:06 PM
POSTPONED PROCEEDINGS - At the conclusion of debate on the Minnick amendment, the Chair put the question on adoption of the amendment and by voice vote, announced the ayes had prevailed. Mr. Frank (MA) demanded a recorded vote and the Chair postponed further proceedings on the question of adoption of the amendment until a time to be announced.
12/11/09 11:31 AM
DEBATE - Pursuant to the provisions of H.Res. 964, the Committee of the Whole proceeded with 20 minutes of debate on the Minnick amendment.
Amendment offered by Mr. Minnick.
12/11/09 11:31 AM
An amendment numbered 35 printed in House Report 111-370 to create a Consumer Financial Protection Council (CFPC) of regulators with rule-writing authority in safety and soundness of institutions and consumer protections regarding all financial products. The CFPC is comprised of 12 members including the Secretary of Treasury, Secretary of Housing and Urban Development, the Chairman of the Federal Reserve, the chairman of the CFTC and SEC, among other federal and state regulators.
12/11/09 11:29 AM
On agreeing to the Peters amendment Agreed to by recorded vote: 228 - 198 (Roll no. 962).
12/11/09 11:21 AM
On agreeing to the McCarthy (CA) amendment Failed by recorded vote: 166 - 259 (Roll no. 961).
12/11/09 11:14 AM
On agreeing to the Kanjorski amendment Failed by recorded vote: 153 - 271 (Roll no. 960).
12/11/09 10:47 AM
UNFINISHED BUSINESS - The Chair announced that the unfinished business was on the question of adoption of amendments which were debated earlier and on which further proceedings were postponed.
The Committee resumed its sitting.
