The planned event in which Treasury Secretary John Snow was to endorse legislation permitting banks to share information was postponed, but not because of an "unavoidable scheduling conflict" as the Treasury announced. It was objected to by Sen. Richard Shelby, chairman of the Senate Banking Committee and a critic of the legislation.
Some 300 representatives of the banking industry, including many who had arrived in Washington from out of town, planned to attend the event Wednesday in the Treasury's Cash Room. The Bush administration and bankers seek renewal of the Fair Credit Reform Act, which expires Dec. 31.
Shelby objected on grounds that the Snow event would overshadow his Banking Committee hearings Thursday. The senator, who became chairman this year, is an advocate of privacy for banking industry customers and is skeptical of information-sharing arrangements.
GEORGETTE FOR SENATOR
New York Republicans close to Gov. George Pataki have approached Manhattan businesswoman Georgette Mosbacher, ex-wife of former Secretary of Commerce Robert Mosbacher, as a possible candidate against Democratic Sen. Charles Schumer next year.
The approach came to light when Mosbacher contacted friends for help in framing her response. While active in Republican fund-raising, Mosbacher has never been a candidate or held public office. With her net worth estimated at over $250 million, she might be able to finance her own campaign.
Mosbacher's last political activity was in 2000 when she endorsed Sen. John McCain for the Republican nomination. Her former husband is a longtime family friend of the Bushes.