Today before judge carpenter in room 232 in city hall. Were told that will begin as soon as a lawyer from the union arrives at that location. In the meantime, we are expecting a briefing here by septa folks including septa spokesperson carla lee and when that briefing begins well switch back to it live. Right now live at septa headquarters, john rawlins channel6 action news. All right, well be standing by for that briefing to begin. John thank you. Looking live at the ben franklin bridge at the start of the friday afternoon rush. Commuters are still forced to find ways to get around the septa strike. Well check in with matt pelman in the Traffic Center coming up in just a few minutes. Of course we will continue to monitor the strike throughout today and into the weekend if necessary. Be sure to check 6abc. Com septa strike. Well have updates as soon as new developments happen and were getting word that the news briefing is actually about to begin at this moment. Of course we will take
The committee will come to order. Without objection the chairs authorized to declare a recess of the committee at any time. Last january, the cfpb im going to recognize myself for the purpose of making an opening statement. Last january the cfpb issued a series of rules that will fundamentally change the Mortgage Market in the united states. Over the last year weve had numerous hearings, in the Financial Institutions and Consumer Credit subcommittee to learn more about the effects these rules will have on the availability of credit. Last november, i had the pleasure of joining mr. Rothfus in pittsburgh for a roundtable discussion with the Community Development organizations in the Greater Pittsburgh area about the effect these rules will have on their ability to serve their consumers. Two things emerged from these committee hearings. One, that the new mortgage rules impair the ability of lenders to work with borrowers on an individual basis. And number two, low to moderate income borro
This is real money. Thats our big concern. As i said, we continue to work with mr. Emerson to see if we can find something that works for lenders like him but that dont fuel the increasing cost of Title Insurance which is too high for home buyers. Recently i met with a group of missouri bankers who came to my office after they had been to visit some representatives over in their building and my bankers were talking about things that were talking about this morning. Qm rule. They were told by the representatives that they were the 41st group to meet with them and basically the gist of the conversation at the end of it was that thank you for coming. We know more about the effects of whats going to happen to the bo borrowers, lenders and market than you do. As a result of that, a number of my delegation members wrote to the director and he responded back to us and madame chair, i would like those two letters made as part of the record. Without objection. In the letter the director indicat
On facebook, we asked what issue do you want president obama and congress to address this year . President upon is expected to announce plans for federal contractors to pay employees at least 10. 10 an hour. House speaker john potter was asked about the issue when he spoke with reporters today. Heres a look. What do you think about these actions by congress . Do you have any support . The president has the authority to raise the minimum wage for the federal contracts. That understands the game. This affects not one current contract. It only affects future contracts with the federal government. I think the the question is how many people of this executive action actually help . I suspect the answer is somewhere close to zero. When it comes to the federal minimum wage, when you raise the cost of something, you get less of it. We know from increases in minimum wage in the past that hundreds of thousands of lowincome americans have lost their jobs. And so, the very people the president pur
The Delaware State Housing Authority (DSHA) recently announced a partnership with all three Habitat for Humanity organizations in Delaware to administer a $3 million grant program to help eligible Delaware