Removing Barriers Blog

This Week Ahead in Washington - November 6, 2017
Posted November 06,2017 by CUNA Advocacy

What a week we had last week.  Senate Banking Committee Ranking Member Sherrod Brown (D-OH) “walked away” from negotiations with Chairman Mike Crapo (R-ID) on a package of regulatory relief for smaller financial institutions, including credit unions.  While disappointing, we are encouraging all parties to return to the negotiating table and craft a package that will remove unnecessary and unneeded regulatory burdens on credit unions.  Also last week, House Ways and Means Committee Chairman Kevin Brady (R-TX) released his long-anticipated tax reform legislation.  The legislation does not eliminate or alter the credit union federal income tax status.  CUNA will be sending out an analysis of the legislation this week and how provisions in the bill may alter products that credit unions offer their members.  A four day markup of the legislation begins today.  It is expected to be passed by the Committee this week and brought to the House floor for a vote next week.  This week, the Senate Finance Committee has indicated that it will release its version of tax reform.

On the Floor

The House is scheduled to vote on H.R. 3043, the Hydropower Policy Modernization Act of 2017; H.R. 2201, the Micro Offering Safe Harbor Act; H.R. 3441, the Save Local Business Act; and H.R. 2874, the 21st Century Flood Reform Act.

The Senate is expected to consider of number of Executive Branch and judicial nominations.

 

In Committee

Monday

  • The House Committee on Ways and Means will begin its markup of the “Tax Cuts and Jobs Act.”

Tuesday

  • The House Financial Services Housing and Insurance Subcommittee will hold another hearing on sustainable housing finance.
  • The House Financial Services Monetary Policy and Trade Subcommittee will hold a hearing to examine proposals to reform the Federal Reserve.
  • The Senate Banking, Housing, and Urban Affairs Committee will markup S.1591, a bill to impose sanctions with respect to the Democratic People's Republic of Korea.

Wednesday

  • The House Financial Services Monetary Policy and Trade Subcommittee will hold a hearing on the Administration’s priorities for international financial institutions.
  • The House Financial Services Terrorism and Illicit Finance Subcommittee will hold a hearing entitled “Financial Intelligence and Enforcement:  Treasury’s Role in Safeguarding the American Financial System.”
  • The Senate Judiciary Committee will hold a hearing on "The Impact of Lawsuit Abuse on American Small Businesses and Job Creators.
  • The Senate Commerce, Science and Transportation will hold a hearing on "Protecting Consumers in the Era of Major Data Breaches."

Witnesses:

  - Mr. Paulino Barros, Interim Chief Executive Officer, Equifax, Inc.

  - Mr. Richard Smith, Former Chief Executive Officer, Equifax, Inc.

  - Ms. Marissa Mayer, Former Chief Executive Officer, Yahoo!, Inc.

  - Ms. Karen Zacharia, Deputy General Counsel and Chief Privacy Officer, Verizon Communications, Inc. (parent company of Yahoo! since 2016)

Thursday

  • The House Financial Services Housing and Insurance Subcommittee will hold a hearing to examine the role of Ginnie Mae in the housing finance system.