Today on the Hill: House Readies Action on Credit Reform Bill

January 29, 2020

House lawmakers are set to take up a package (text; amendments) of Democratic credit-related legislation out of the Financial Services Committee. The measure includes a host of bills that cleared the Committee on a party-line basis last summer, including bills that would amend the Fair Credit Reporting Act (FCRA) to: (1) ban the use of credit information for most employment decisions (H.R. 3614); (2) establish requirements relating to credit scores and educational credit scores (H.R. 3618); and (3) reform the consumer report dispute process and ban certain “misleading and unfair” consumer reporting practices (H.R. 3642). The Trump administration issued a veto threat on the legislation earlier this week, arguing that the Democrats’ bill would increase costs and reduce the efficiency of consumer lending markets.

Also on the House floor today, lawmakers will consider a bipartisan suspension bill that would address an expiring ban on synthetic opioids. Passed unanimously by the Senate, the measure would provide a 15-month extension of the Drug Enforcement Agency’s (DEA) temporary Schedule I designation of fentanyl analogues. The bill is expected to be swiftly signed into law by President Donald Trump ahead of the Feb. 6 expiration date.

Meanwhile, the question and answer portion of President Trump’s impeachment trial is set to get underway after the White House legal team wrapped up their opening arguments yesterday. Senators will have up to eight hours today and tomorrow to submit questions to the House managers and defense team, which must be submitted in writing for Chief Justice John Roberts to read. The Senate court of impeachment will then determine whether to pursue additional evidence or witness testimony — a key factor as to whether the trial will end expeditiously or extend into a third week.