Lucas Named a Conferee to the Financial Services Regulatory Reform Conference Committee

Jun 10, 2010

Washington, DCThis week, Congressman Frank Lucas was named a conferee to the financial services regulatory reform Conference Committee.  Typically, when the House and Senate draft differing pieces of legislation regarding the same topic, a Conference Committee is formed to iron out the differences between the two bills.

“I am honored to have been chosen as a member of the Conference Committee on the regulatory reform legislation.  The far-reaching implications of this legislation will impact every American.  Not only will it establish rules to govern our financial industry, including our banking industry and financial markets, but it will also affect everything from retiree’s pensions, to available credit for family farmers, to regulations of small businesses, even to rules governing the credit and debit cards of American consumers; so it is imperative that we get it right.  For that reason, we must have an open and transparent Conference Committee where all ideas and opinions are thoroughly discussed and a fair and balanced compromise among all sides is created.

“A claim has been made that this Conference Committee will be conducted in an open forum, and I truly hope that will be the case.  The more open and transparent our negotiations are, the better the final legislation will be.  However this claim has been made many times in the past with no actual follow through.  I sincerely hope that Chairman Frank will ensure that all discussions pertaining to this important legislation are conducted in a public forum and that all members of this Conference Committee will be able to participate,” stated Lucas.

The Conference Committee began negotiations Thursday, June 10th and is expected to continue meeting over the next several weeks until a final draft is completed.  A total of 31 House members were selected to serve on the Conference Committee, including 11 Republicans and 20 Democrats.  Twelve Senators will serve on the committee, including seven Democrats and 5 Republicans.  Lucas is the only member of the Oklahoma delegation to serve on the committee.

# # #

Recent Posts

Feb 21, 2024

Lucas Stands Up for Oklahoma Beef Producers

Washington, DC – Today, Congressman Frank Lucas (OK-03) joined an effort to halt the Biden Administration’s rule allowing for the importation of fresh Paraguayan beef, which has historically been affected by the viral foot-and-mouth disease. The USDA’s most recent inspection of cattle in Paraguay was nearly a decade ago.  Congressman Lucas (OK-03) joined Rep. Ronny Jackson’s (TX-13) joint resolution […]

Feb 20, 2024

Lucas: USDA fails to deliver support to Oklahoma farmers.

Washington, DC – At today’s House Agriculture Committee hearing, Congressman Lucas questioned Secretary of Agriculture Tom Vilsack over the Biden Administration’s failed Emergency Relief Program (ERP). Congressman Lucas noted that producers in Oklahoma were feeling the negative affects of the ERP 2022 program. Secretary Vilsack questioned this claim, prompting Congressman Lucas to defend his constituents. Click here or […]

Feb 6, 2024

Secretary Yellen Dodges Basel Endgame Questioning

Washington, DC – Today, Congressman Lucas followed up with Secretary Yellen on whether Treasury has discussed the impact of the Basel Endgame proposal with the Federal Reserve. When asked a straightforward question on the detrimental impact of the proposal, Secretary Yellen had no answer. February 6, 2024 Lucas: “Are you concerned that the proposal will undermine the […]