Today In Washington
January 16, 2018
Source: AEO Government Relations Team, Madison Services Group
Congress returns to Washington today, as Congressional leaders continue negotiations to fund the government for the balance of FY 2018. After the collapse of a bipartisan immigration deal to protect Dreamers — individuals who were illegally brought to the U.S. as children — Congressional GOP leadership is proposing a continuing appropriations resolution (CR) through February 16 to provide more time for budget talks. Aside from protection for Dreamers, other issues to be resolved are disaster relief, an extension of the Children’s Health Insurance Program (CHIP) and lifting the spending caps imposed by the Budget Control Act of 2011. As a reminder, the federal government is operating on a CR that expires this Friday.
Wednesday at 10 a.m.: House Financial Services Committee’s multiple-bill “Markup,” taking place at 2128 Rayburn House Office Building. Among the bills being considered:
• H.R. 1264, the “Community Financial Institution Exemption Act,” introduced by Rep. Roger Williams (R-TX). This bill amends the Consumer Financial Protection Act of 2010 to exempt community financial institutions from all rules and regulations issued by the Consumer Financial Protection Bureau (CFPB).
• H.R. 4061, the “Financial Stability Oversight Council Improvement Act of 2017,” introduced by Rep. Dennis Ross (R-FL). This bill amends the Financial Stability Act of 2010 to improve the transparency of the Financial Stability Oversight Council, and to improve the Systemically Important Financial Institution (SIFI) designation process.
• H.R. 4725, the “Community Bank Reporting Relief Act,” introduced by Rep. Randy Hultgren (R-IL). This bill amends the Federal Deposit Insurance Act to require short form call reports for certain depository institutions.
• H.R. 4771, the “Small Bank Holding Company Relief Act of 2018,” introduced by Rep. Mia Love (R-UT). This bill raises the consolidated asset threshold under the Small Bank Holding Company Policy Statement on Assessment of Financial and Managerial Factors from $1 billion to $3 billion. Bill text can be found here.
• H.R. 4790, the “Volcker Rule Regulatory Harmonization Act,” introduced by Rep. French Hill (R-AR). This bill gives the Board of Governors of the Federal Reserve System sole rulemaking authority, and excludes community banks from the requirements of the Volker rule. Bill text can be found here.
• H.R.4785, the “American Customer Information Protection Act,” introduced by Rep. Bill Huizenga (R-MI). This bill prohibits the consolidated audit trail from accepting personally identifying information. Bill text can be found here.
• H.R. 4792, the “Small Business Access to Capital After a Natural Disaster Act,” introduced by Rep. Nydia Velazquez (D-NY). This bill amends the Securities Exchange Act of 1934 to expand access to capital for small businesses affected by hurricanes or other natural disasters. Bill text can be found here.
Wednesday at 11 a.m.: House Small Business Committee’s “Strengthening SBA’s 7(a) Loan Program,” taking place at 2360 Rayburn House Office Building.
Thursday at 10 a.m.: House Small Business Subcommittee on Agriculture, Energy & Trade’s “Engaging Energy: Small Business Resources at the Department of Energy,” taking place at 2360 Rayburn House Office Building.