Sen Lautenberg assumes power over financial agency, FCC budgets

Sen. Frank Lautenberg (D-NJ) is assuming control of the Senate subcommittee in charge of the budgets of the financial agencies. The new post will give Lautenberg power over what is spent by the Treasury department, Securities & Exchange Commission, the Federal Communications Commission (FCC), Federal Trade Commission, and the Consumer Product Safety Commission (CPSC) and a host of other agencies.

“This chairmanship provides an important opportunity to strengthen consumer protections and make sure our nation's financial institutions serve the interests of all Americans. In addition, the FCC has a tremendous impact on our daily lives, from cellphones to the Internet to what we see on our television screens, and I will work to promote fairness, localism and diversity in the telecommunications industry,” he said.