Tuesday, September 6

Congress Back at Work Before Election

Posted by AVCU on 4:58 PM

Labels: ,

Excerpted from reporting by Ryan Donovan, Chief Advocacy Office, Credit Union National Association

Congress is just now returning from a seven-week recess, with a modest agenda slated for its final pre-election session. While leaders will call-up a number of minor bills in September, the main event this month will be a funding resolution to keep the government open past the end of the fiscal year on September 30. The major question is whether this will be a short-term continuing resolution into December, or a longer CR into the first part of next year. Answering this question will involve a dance not only between Republicans and Democrats, but also between leaders and appropriators in the Senate and the House.

This week the House is expected to consider H.R.2357, the "Accelerating Access to Capital Act of 2015"; H.R.5424, the "Investment Advisers Modernization Act of 2016"; and H.R.5063, the "Stop Settlement Slush Funds Act of 2016." The Senate will resume consideration of the Conference Report to accompany H.R.2577, the Military Construction, Veterans Affairs, and Related Agencies Appropriations Act for 2017.

There are several pertinent committee hearings on both sides of the Capitol this week, including:
  •   Wednesday 
    • The House Financial Services Committee Monetary Policy and Trade Subcommittee will hold a hearing on "Federal Reserve Districts: Governance, Monetary Policy, and Economic Performance."
  • Thursday 
    • The House Financial Services Committee Oversight and Investigations Subcommittee will hold a hearing on "Fueling Terror: The Dangers of Ransom Payments to Iran."
  • Friday 
    • The House Financial Services Committee Capital Markets and Government Sponsored Enterprises Subcommittee will hold a hearing on "Corporate Governance: Fostering a System that Promotes Capital Formation and Maximizes Shareholder Value."
Congress is expected to wrap up on September 30, but don't be surprised if the House (and maybe the Senate) skips town a week earlier.  If a funding resolution is in place, there is little reason for the chambers to stick around.  Members on both sides of the aisle will be eager to get home in advance of the elections.

Pending Regulatory Comment Calls: CUNA intends to comment on the following pending regulatory proposals. For our comment letter to have the greatest impact, we need to hear from credit union. Please consider whether and how these proposals would affect your credit union, and use PowerComment to file comment letters with regulators. For more details follow the links:


0 comments:

Post a Comment