A busy week in Washington comes to a close today as the House aims to wrap up floor action for the week this morning. The lower chamber will consider a financial services bill (H.R. 4790) that would give the Federal Reserve Board sole rulemaking authority for the Volcker rule and exclude community banks from the requirements of the rule. The House will return to work on Monday, and is slated to consider: (1) a bill (H.R. 5192) that would provide fraud protection for vulnerable populations such as minors and recent immigrants; (2) a bill (H.R. 5444) that seeks to modernize and improve the Internal Revenue Service (IRS); and (3) a bill (H.R. 5445) that would improve cybersecurity and taxpayer identity protection and modernize information technology at the IRS.
The Senate is adjourned until Monday, when it will resume consideration of a bill (S.140) that would amend the White Mountain Tribe Water Rights Quantification Act of 2010 to clarify the use of amounts in the White Mountain Apache Tribe Settlement Fund. Senate Majority Leader Mitch McConnell (R-KY) also announced that he began the Rule 14 process to bypass the committee process and place S.2667 — a bill that would amend the Agricultural Marketing Act to allow State and Tribal regulation of hemp production — on the upper chamber’s legislative calendar.