FINANCIAL SERVICES WEEK AHEAD SEPTEMBER 10 to SEPTEMBER 14

U.S. House of Representatives:

House Financial Services Committee Markup 

1) Data Security – Congressman Luetkemeyer recently introduce bill the Consumer Information Notification Requirement Act.  This version is largely similar to the language previewed in draft bill and only pertains to entities regulated under Gramm-Leach-Bliley.

 

2) Duffy – HR 5534 Guide Act – CFPB guidance.

 

H.R. 5534, the Give Useful Information to Define Effective Compliance Act or “GUIDE” Compliance Act (Supported by MBA and ALTA).  The bill will provide a statutory framework requiring the Consumer Financial Protection Bureau (“CFPB”) to issue regular, written interpretative rules and guidance to facilitate industry compliance – and thereby better protect consumers. Market participants continue to be frustrated by CFPB guidance that contains caveats which serve to diminish the reliability of said regulation for future reference. The Bureau has been historically slow to issue guidance, which has created an environment of uncertainty amongst all stakeholders. An example of this lack of clarity was the Bureau’s Know Before You Owe (KBYO) rule, which comprehensively revised consumer mortgage disclosures. After issuing this rule, the Bureau failed to adequately answer the numerous technical and substantive questions raised by the complex proposal, resulting in confusion for consumers and industry participants alike. H.R.5534 addresses these concerns by requiring the CFPB to issue guidance that can be relied upon in good faith by industry. It sets clear timelines for the CFPB to solicit industry questions and provide answers during and after the implementation process. The bill requires public notice before the Bureau amends or revokes guidance. It also eliminates liability for acts that were consistent with guidance when they occurred, regardless of whether that guidance has since changed. Finally, the bill requires the CFPB to develop published guidelines for determining the size of any civil money penalties.

Others HFSC will be noticed late tomorrow.

Committee on Oversight and Government Reform
 
Evaluating Federal Disaster Response and Recovery Efforts
(Rescheduled) Full House Committee on Oversight and Government Reform
Hearing Date: September 13, 2018 10:00 AM 2154 Rayburn

Witnesses:

 

The Honorable William B. “Brock” Long or a FEMA designee
Administrator
Federal Emergency Management Agency

Major General Scott A. Spellmon or a USACE designee
Deputy Commanding General for Civil and Emergency Operations
U.S. Army Corps of Engineers

Dr. Lynn R. Goldman
Michael and Lori Milken Dean
Milken Institute School of Public Health

Committee on Rules
Members’ Day Hearing on Proposed Rules Changes for the 116th Congress
Subcommittee on Rules and Organization of the House

HEARING DATE: 10:100 AM H-313 CAPITOL

This is a Member’s day hearing. 

 

U.S. Senate:

Senate Banking Committee
 
Countering Russia: Assessing New Tools
DATE:   Wednesday, September 12, 2018 TIME:  10:00 AMLOCATION:  Dirksen Senate Office Building 538

Witnesses:

Dr. Leon Aron

Resident Scholar And Director Of Russian Studies
American Enterprise Institute

Ms. Elizabeth Rosenberg

Senior Fellow And Director Of Energy, Economics And Security Program
Center for New American Security

Mr. Daleep Singh

Senior Fellow, Adjunct Professor
Atlantic Council, Johns Hopkins University

Implementation of the Economic Growth, Regulatory Relief, and Consumer Protection Act
DATE:   Thursday, September 13, 2018 TIME:  10:00 AMLOCATION:  Dirksen Senate Office Building 538

Witnesses:

The Honorable Joseph M. Otting

Comptroller
Office of the Comptroller of the Currency

The Honorable Randal K. Quarles

Vice Chairman For Supervision
Board of Governors of the Federal Reserve System

The Honorable Jelena McWilliams

Chairman
Federal Deposit Insurance Corporation

The Honorable J. Mark McWatters

Chairman
National Credit Union Administration

Senate Agriculture Committee:

Perspectives on U.S. Agricultural Trade
Date: Thursday, September 13, 2018 Time: 10:00 AM Location: 328A Russell Senate Office Building

Witnesses:

Dr. Robert Johansson

Chief Economist
United States Department of Agriculture

The Honorable Ted McKinney

Under Secretary For Trade And Foreign Agricultural Affairs
United States Department of Agriculture

The Honorable Gregg Doud

Chief Agricultural Negotiator
Office of the United States Trade Representative

 

HOUSE FLOOR SCHEDULE

 

MONDAY, SEPTEMBER 10TH
On Monday, no votes are expected in the House.

TUESDAY, SEPTEMBER 11TH

On Tuesday, no votes are expected in the House.

WEDNESDAY, SEPTEMBER 12TH
On Wednesday, the House will meet at 12:00 p.m. for morning hour and 2:00 p.m. for legislative business. Votes will be postponed until 6:30 p.m.

Legislation Considered Under Suspension of the Rules:

1) H.R. 6198 – Countering Weapons of Mass Destruction Act of 2018, as amended (Sponsored by Rep. Dan Donovan / Homeland Security Committee)

2) H.R. 6720 – Dog and Cat Meat Trade Prohibition Act of 2018 (Sponsored by Rep. Vern Buchanan / Agriculture Committee)

3) H.R. 5059 – State Insurance Regulation Preservation Act, as amended (Sponsored by Rep. Keith Rothfus / Financial Services Committee)

4) H.R. 6411 – FinCEN Improvement Act of 2018 (Sponsored by Rep. Ed Perlmutter / Financial Services Committee)

5) H.R. 6561 – Comprehensive Care for Seniors Act of 2018, as amended (Sponsored by Rep. Jackie Walorski / Ways and Means Committee)

6) H.R. 6662 – Empowering Seniors’ Enrollment Decision Act of 2018, as amended (Sponsored by Rep. Erik Paulsen / Ways and Means Committee)

7) H.R. 6690 – Fighting Fraud to Protect Care for Seniors Act of 2018, as amended (Sponsored by Rep. Peter Roskam / Ways and Means Committee)

8) H.R. 3635 – Local Coverage Determination Clarification Act of 2018, as amended (Sponsored by Rep. Lynn Jenkins / Ways and Means Committee)

9) H.R. 3764 – Little Shell Tribe of Chippewa Indians Restoration Act of 2018, as amended (Sponsored by Rep. Greg Gianforte / Natural Resources Committee)

10) H.R. 5923 – Walnut Grove Land Exchange Act, as amended (Sponsored by Rep. Bruce Westerman / Natural Resources Committee)

11) H.R. 4824 – Rural Broadband Permitting Efficiency Act of 2018, as amended (Sponsored by Rep. John Curtis / Natural Resources Committee)

12) H.R. 2591 – To amend the Pittman-Robertson Wildlife Restoration Act to modernize the funding of wildlife conservation, and for other purposes, as amended (Sponsored by Rep. Austin Scott / Natural Resources Committee)

13) H.R. 2606 – Stigler Act Amendments of 2018, as amended (Sponsored by Rep. Tom Cole / Natural Resources Committee)

14) H.R. 6287 – 9/11 Memorial Act, as amended (Sponsored by Rep. Tom MacArthur / Natural Resources Committee)

15) H.R. 3186 – Every Kid Outdoors Act (Sponsored by Rep. Niki Tsongas / Natural Resources Committee)

16) H.R. 5532 – Reconstruction Era National Historical Park Act (Sponsored by Rep. James Clyburn / Natural Resources Committee)

17) S. 2857 – National Nordic Museum Act (Sponsored by Sen. Maria Cantwell / Natural Resources Committee)

18) H.R. 5317 – To repeal section 2141 of the Revised Statutes to remove the prohibition on certain alcohol manufacturing on Indian lands, as amended (Sponsored by Rep. Jaime Herrera Beutler / Natural Resources Committee)

19) H.R. 6197 – RAWR Act (Sponsored by Rep. Dan Donovan / Foreign Affairs Committee)

20) H.Res. 401 – Urging China, South Korea, Vietnam, Thailand, the Philippines, Indonesia, Cambodia, Laos, India, and all nations to outlaw the dog and cat meat trade and to enforce existing laws against the trade, as amended (Sponsored by Rep. Alcee Hastings / Foreign Affairs Committee)

21) H.R. 1911 – Special Envoy to Monitor and Combat Anti-Semitism Act of 2018, as amended (Sponsored by Rep. Chris Smith / Foreign Affairs Committee)

THURSDAY, SEPTEMBER 13THAND THE BALANCE OF THE WEEK
On Thursday, the House will meet at 10:00 a.m. for morning hour and 12:00 p.m. for legislative business.

On Friday, the House will meet at 9:00 a.m. for legislative business. Last votes expected no later than 3:00 p.m.

Legislation Considered Under Suspension of the Rules:

1) H.R. 6227 – National Quantum Initiative Act, as amended (Sponsored by Rep. Lamar Smith / Science, Space, and Technology Committee)

2) S. 97 – Nuclear Energy Innovation Capabilities Act of 2017 (Sponsored by Sen. Mike Crapo / Science, Space, and Technology Committee)

3) Concurring in the Senate Amendment to H.R. 589 – Department of Energy Research and Innovation Act (Sponsored by Rep. Lamar Smith / Science, Space, and Technology Committee)

4) H.R. 4913 – To designate the facility of the United States Postal Service located at 816 East Salisbury Parkway in Salisbury, Maryland, as the “Sgt. Maj. Wardell B. Turner Post Office Building” (Sponsored by Rep. Andy Harris / Oversight and Government Reform Committee)

5) H.R. 5349 – To designate the facility of the United States Postal Service located at 1320 Autumn Avenue in Memphis, Tennessee, as the “Judge Russell B. Sugarmon Post Office Building” (Sponsored by Rep. Steve Cohen / Oversight and Government Reform Committee)

6) H.R. 5737 – To designate the facility of the United States Postal Service located at 108 West D Street in Alpha, Illinois, as the “Captain Joshua E. Steele Post Office” (Sponsored by Rep. Cheri Bustos / Oversight and Government Reform Committee)

7) H.R. 5868 – To designate the facility of the United States Postal Service located at 530 Claremont Avenue in Ashland, Ohio, as the “Bill Harris Post Office” (Sponsored by Rep. Bob Gibbs / Oversight and Government Reform Committee)

8) H.R. 5935 – To designate the facility of the United States Postal Service located at 1355 North Meridian Road in Harristown, Illinois, as the “Logan S. Palmer Post Office” (Sponsored by Rep. Rodney Davis / Oversight and Government Reform Committee)

9) H.R. 6020 – To designate the facility of the United States Postal Service located at 325 South Michigan Avenue in Howell, Michigan, as the “Sergeant Donald Burgett Post Office Building” (Sponsored by Rep. Mike Bishop / Oversight and Government Reform Committee)

10) H.R. 6116 – To designate the facility of the United States Postal Service located at 362 North Ross Street in Beaverton, Michigan, shall be known and designated as “Colonel Alfred Asch Post Office” (Sponsored by Rep. John Moolenaar / Oversight and Government Reform Committee)

11) H.R. 606 – To designate the facility of the United States Postal Service located at 1025 Nevin Avenue in Richmond, California, as the “Harold D. McCraw, Sr., Post Office Building” (Sponsored by Rep. Mark DeSaulnier / Oversight and Government Reform Committee)

12) H.R. 5784 – To designate the facility of the United States Postal Service located at 2650 North Doctor Martin Luther King Drive in Milwaukee, Wisconsin, as the “Vel R. Phillips Post Office Building” (Sponsored by Rep. Gwen Moore / Oversight and Government Reform Committee)

H.R. 3798 – Save American Workers Act of 2017, Rules Committee Print (Subject to a Rule) (Sponsored by Rep. Jackie Walorski / Ways and Means Committee)

Possible Consideration of the Conference Report to Accompany H.R. 5895 – Energy and Water, Legislative Branch, and Military Construction and Veterans Affairs Appropriations Act, 2019 (Subject to a Rule) (Sponsored by Rep. Mike Simpson / Appropriations Committee)

Additional Legislative Items are Possible.

 

Senate Floor Schedule:

 

SCHEDULE FOR PRO FORMA SESSIONS AND WEDNESDAY, SEPTEMBER 12, 2018

The Senate stands adjourned for pro forma sessions with no business conducted on the following dates and times:

Friday, September 7th at 9:00am
Tuesday, September 11th at 5:00pm.

When the Senate adjourns on Tuesday, it will next convene at 3:00pm on Wednesday, September 12, 2018.

On Wednesday, following Leader remarks, the Senate will resume consideration of Executive Calendar #1013, Charles P. Rettig, of California, to be Commissioner of the IRSAt 5:30pm, the Senate will vote on the motion to invoke cloture on the Rettig nomination.

Wednesday, September 12 at 5:30pm – 1 roll call vote
1.      Motion to invoke cloture on Executive Calendar #1013, Charles P. Rettig, of California, to be Commissioner of the IRS

As a reminder, during Thursday’s session the Senate agreed to votes relating to H.R.6 (Opioids) and S.2554 (Patient Right to Know Drug Prices Act). Those votes could occur next week.

At a time TBD – 1 roll call vote
1.      Passage of H.R.6, as amended

At a time TBD – 2 roll call votes
1.      Lee amendmenet #4011 to S.2554
2.      Passage of S.2554, as amended, if amended

 

Hearing Schedule:

U.S. House of Representatives:


Committee on Oversight and Government Reform

 
EVALUATING FEDERAL DISASTER RESPONSE AND RECOVERY EFFORTS
(RESCHEDULED) FULL HOUSE COMMITTEE ON OVERSIGHT AND GOVERNMENT REFORM
HEARING DATE: SEPTEMBER 13, 2018 10:00 AM 2154 RAYBURN HOB

Witnesses:

 

The Honorable William B. “Brock” Long or a FEMA designee
Administrator
Federal Emergency Management Agency

Major General Scott A. Spellmon or a USACE designee
Deputy Commanding General for Civil and Emergency Operations
U.S. Army Corps of Engineers

Dr. Lynn R. Goldman
Michael and Lori Milken Dean
Milken Institute School of Public Health

Committee on Rules
Members’ Day Hearing on Proposed Rules Changes for the 116th Congress
Subcommittee on Rules and Organization of the House

HEARING DATE: 10:100 AM H-313 CAPITOL

This is a Member’s day hearing. 

 

U.S. Senate:

Senate Banking Committee
 
Countering Russia: Assessing New Tools
DATE:   Wednesday, September 12, 2018 TIME:  10:00 AMLOCATION:  Dirksen Senate Office Building 538

Witnesses:

Dr. Leon Aron

Resident Scholar And Director Of Russian Studies
American Enterprise Institute

Ms. Elizabeth Rosenberg

Senior Fellow And Director Of Energy, Economics And Security Program
Center for New American Security

Mr. Daleep Singh

Senior Fellow, Adjunct Professor
Atlantic Council, Johns Hopkins University

Implementation of the Economic Growth, Regulatory Relief, and Consumer Protection Act
DATE:   Thursday, September 13, 2018 TIME:  10:00 AMLOCATION:  Dirksen Senate Office Building 538

Witnesses:

The Honorable Joseph M. Otting

Comptroller
Office of the Comptroller of the Currency

The Honorable Randal K. Quarles

Vice Chairman For Supervision
Board of Governors of the Federal Reserve System

The Honorable Jelena McWilliams

Chairman
Federal Deposit Insurance Corporation

The Honorable J. Mark McWatters

Chairman
National Credit Union Administration

Senate Agriculture Committee:

Perspectives on U.S. Agricultural Trade
Date: Thursday, September 13, 2018 Time: 10:00 AM Location: 328A Russell Senate Office Building

Witnesses:

Dr. Robert Johansson

Chief Economist
United States Department of Agriculture

The Honorable Ted McKinney

Under Secretary For Trade And Foreign Agricultural Affairs
United States Department of Agriculture

The Honorable Gregg Doud

Chief Agricultural Negotiator
Office of the United States Trade Representative

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