Author: Thornrun

Our Take

There is a question on the top of mind in Washington, well, ok, two.  But beyond the viral determination if you’re Yanny or Laurel, everyone wants to know what is going to happen in November.  Will it be wave?  Or  a trickle?  Will the Dems take control of the House? The Senate? And if so, what does it mean in terms of a governing philosophy and agenda.   So, with the large caveat that we are still a long, long way from the election, and many things could change between now and then, we wanted to share our latest thinking on the topic. 
 
Between last week’s primaries and the primary in Ohio the week before, it seems possible that the Midwest could serve as the dam to stem the Democratic tide in November.   This is based partly on turnout and partly on results.   If true, then it seems likely that any Democratic gains will come from coastal states.  There are still enough seats in play in those states that the House could flip, but any Democratic majority would be narrow at best.   

Continue reading “Financial Services Report”

Looking Ahead

Near Term

• The House and Senate are in session this week.  The House is taking up a series of bills related to law enforcement and is expected to take up the Agriculture Bill (H.R. 2), which includes controversial provisions dealing with food assistance – a/k/a SNAP.
• At the House Financial Services Committee, it looks like a busy week with four different subcommittees holding hearings.
• Over at the House Education and Workforce Committee there will be a hearing on retirement policy, including the RESA bill.   We hope that at least some of the focus will be on the proper pronunciation of the acronym. 
• The Senate will continue its nominations routine with a series of judicial nominations scheduled.
• The Senate Banking Committee will focus on nominations of its own, with a vote on pending nominations, and a hearing on the President’s nominees to serve on the Federal Reserve Board. 
• According to Speaker Paul Ryan, Thursday is the deadline for the Administration to announce to Congress that it has reached a new NAFTA deal if it wants the 115^th Congress to be able to vote on that agreement.  

Continue reading “Financial Services Report”

Looking Ahead

Near Term

• The House and Senate are in Recess Next week

Further Out

• A deal on the Reg Reform bill?
• The House is expected to consider the Congressional Review Act vote on the CFPB Guidance on fair lending in the auto industry the week of May 7^th.

Continue reading “Financial Services Report”

Looking Ahead

Near Term

• The House will take up the Federal Aviation Administration (FAA) reauthorization bill this week.  While the bill has little to do with day to day financial services policy it is a “must-pass” bill and therefor has been on the short list of bills that could serve as a vehicle for Chairman Hensarling’s alternative package if the House is forced to vote on S. 2155 without amendment.  However, because it is a “must pass” with a tax provision there are reports that it may be subject to a filibuster in the Senate to prevent additional tax policy from being enacted this year.
• The Senate will return to the mundanity of judicial nominations, after the excitement of last week’s CRA.  
• There are two hearings in the House Financial Services Committee this week, one on HUDs rental assistance and the other an oversight hearing of the SEC.
• Speaking of the SEC, Chairman Jay Clayton will appear before the FSGG subcommittee where he will likely receive a lot of questions about the SEC’s fiduciary rule proposal that was released last week.
• The House Energy and Commerce Committee is getting in on the CFIUS action with a hearing on Thursday.

Continue reading “Financial Services Report”