US Financial Services Committee to hold hearing on credit markets

The US House Financial Services Committee chairman Barney Frank said the committee will hold a general oversight hearing on the current crises in the US credit markets, mortgage market and the implications consumers and the economy.

The hearing is entitled “Recent Events in the Credit and Mortgage Markets and Possible Implications for U.S. Consumers and the Global Economy.”

The committee will hear from witnesses from the Department of Treasury and the Federal Reserve. The second panel will consist of witnesses from the mortgage banking industry and other market participants.