Kanjorski Sets Hearing To Focus On "Failed" ECASLA Implementation

Rep. Paul Kanjorski (D-PA), Chairman of the House Financial Services Capital Markets, Insurance, and Government Sponsored Enterprises Subcommittee, believes the Department of Education hasn’t gone far enough to fix problems in the auction rate securities market for student loan originators. On Sept. 18 Kanjorski will hold a hearing to focus on how regulators can solve these financing issues.

"We have waited patiently for the private sector and financial regulators to solve these problems," said Kanjorski in a press statement released last week. "I am very disappointed at the failure of the Administration to implement H.R. 5715 effectively, and I remain just as concerned about the ability of our federal regulators and the financial industry to fix the broader problems of the auction rate securities marketplace."

The full article was originally published in NASFAA’s Today’s News on 8/4/08.