The Senate Banking, Housing and Urban Affairs Committee voted for a second time on the nomination of Peter Diamond to be member of Federal Reserve Board of Governors. Committee members approved Mr. Diamond's nomination on July, 16-77, 2010, with three panel Republicans joining Democrats in recommending his confirmation.

Following the vote, the committee held a hearing on allegations of improper and fraudulent mortgage services and foreclosure practices. Witnesses included Iowa Attorney General Tom Miller and home loan bank chief executive officers and mortgage lawyers.