Financial Services Week Ahead January 20-23

U.S. House of Representatives:

House Financial Services Committee:

Wednesday, January 21, 2015 at 2:00 p.m. in HVC 210 – Markup. Committee Oversight Plan for 114th Congress.

Comments and Key Highlights:

Committee intends to (1) conduct “significant oversight” of the FSOC to ensure that it “conducts its deliberations with an appropriate level of transparency,” (2) oversee the regulatory, supervisory, and enforcement activities of the CFPB and the effect of those activities on regulated entities and consumers, (3) conduct oversight of the OFR to ensure that it is “transparent and accountable” and that its requests for data are not “unduly burdensome or costly, and that the confidentiality of the data that it collects is strictly maintained,” and (4) monitor “all aspects of the [SEC‘s] operations, activities, and initiatives to ensure that it fulfills its Congressional mandate to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.”  In addition, the Committee expects to examine (1) the regulatory implementation of the Volcker Rule, specifically its effect on the “strength and international competitiveness of U.S. capital markets,” (2) whether regulatory implementation of Title I and Title II of Dodd-Frank is “advancing or impeding” the stated goal of ending “too-big-to-fail,” and (3) bank capital and liquidity requirements, including the guidelines developed by the Basel Committee.  Finally, the Committee plans to consider proposals to “modify or terminate Fannie Mae‘s and Freddie Mac‘s statutory charters, harmonize their business operations, and wind down any legacy business commitments” and examine the “overall size of the GSEs’ footprint in various aspects of the housing finance system and ways to reduce or constrain their large market share.”

 

Memo and Oversight Plan Below

U.S. Senate:

Senate Banking Committee:

No hearings this weeks since January 20th hearing on Iran Sanctions got reschedule to Jan 27 and a markup was added below.

 

January 27th RESCHEDULED – Perspectives on the Strategic Necessity of Iran Sanctions  538 Dirksen Senate Office Building  10:00 AM – 12:00 PM

 

January 29th Rescheduled EXECUTIVE SESSION to mark-up legislation entitled “Nuclear Weapon Free Iran Act of 2015.”  538 Dirksen Senate Office Building  10:00 AM – 12:00 PM

 

 

Staff Changes:

Republicans:

Beth Zorc, Majority, Senior Counsel, Senate Banking Committee – She returns to Senate Banking Committee after recently serving as the Senior Counsel for the Financial Institutions Subcommittee of the House Financial Services Committee.  No word on her replacement yet at HFSC.

 

Jared Sawyer, Counsel/Designee, Financial Institutions Subcommittee, House Financial Services Committee – Jared moves over from Senator Mike Crapo’s banking staff to work under Financial Institutions Subcommittee Chairman Randy Neugebauer (R-TX) as his committee staff designee.

Mike Ahern, Professional Staff, Senator Bob Cocker – Mike moves over from House Financial Services Committee where he was the Professional Staff for Capital Markets Subcommittee under House Financial Services Committee Chairman Jeb Hensarling.

Michael Sinacore, Financial Services LA, Rep. Bruce Poliquin (R-ME) – Michael comes over from Rep. Scott Garrett’s staff to join HFSC newest member Rep. Bruce Poliquin (R-ME) as his banking LA.

Ryan Rusbuldt, Financial Services LA, Rep. Frank Guinta (R-NH) – Ryan moves over from his role as researcher with the House Financials Services Committee to become the Financial Services LA.

Brett Quick, Financial Services LD, Rep. Steven Fincher (R-TN)– Brett just finished her tenure as Former Chairman Emeritus Spencer Bachus’ Financial Services Designee to the House Financial Services Committee.  She replaces Jim Hall who recently move to the Options Clearing Corporation.

Stephanie Dearie, Financial Services LD, Rep. Mia Love (R-UT) – Stephanie was former Rep. John Campbell’s Designee for his Domestic and Monetary Policy Subcommittee.  She joins her former colleague Muffy Day who his the new Chief of Staff for Rep. Mia Love (R-UT).

Erik Rust, Financial Services LA, Rep, Ann Wagner (R-MO) – Erik Rust replaces Lara Driscoe who moved over to become Rep. Frank Guinta’s Legislative Director.

David Stern, Financial Services LD, Rep. Bob Dold (R-IL) – David moves over from Rep. Andy Barr’s office to be returning member Rep. Dold’s Legislative Director.

 

Democrats:

Senate Banking Committee Ranking Minority Member Sherrod Brown (D-OH) announced that Mark Powden, who has served in Sen. Brown’s office since 2007, will become the Minority Staff Director.  In addition, Graham Steele, who has also served in Sen. Brown’s personal office since 2010, will become the Minority Chief Counsel.  Laura Swanson, who has served on the Committee staff since 2007, will be Minority Deputy Staff Director.