FINANCIAL SERVICES WEEK AHEAD MARCH 11 to MARCH 15

U.S. House of Representatives

House Committee Activity

Appropriations

Appropriations Subcommittee on Financial Services and General Government, Hearing: Treasury’s Role in Combatting Financial Crimes
Tuesday, March 12 at 10:00am
2362-A Rayburn
Witness panel:
Sigal Mandelker, Undersecretary, U.S. Department of Treasury

Budget

Budget, Hearing: The President’s 2020 Budget
Tuesday, March 12 at 10:00am
210 Cannon
Witness panel:
Russell Vought, Acting Director, Office of Management and Budget

Energy and Commerce

Energy and Commerce Subcommittee on Communications and Technology, Hearing: “Legislating to Safeguard the Free and Open Internet.”
Tuesday, March 12 at 10:00am
2322 Rayburn
Legislation:
Consideration of H.R. 1644, the “Save the Internet Act” [PDF]

Financial Services

Financial Services, Hearing: Holding Megabanks Accountable: An Examination of Wells Fargo’s Pattern of Consumer Abuses.
Tuesday, March 12 at 10:00am
2128 Rayburn
Witness panel:
Timothy J. Sloan, President and Chief Executive Officer of Wells Fargo & Company (“Wells Fargo”)

Financial Services Multiple Subcommittees, Hearing: Preparing for the Storm: Reauthorization of the National Flood Insurance Program

Wednesday, March 13 at 10:00am
Legislation:
H.R.____, “Waters_009” [DRAFT]
H.R.____, “Maj_Mitigation” [DRAFT]
H.R.____, “Maj_Mapping” [DRAFT]
H.R.____, “National Flood Insurance Program Administrative Reform Act of 2019” [DRAFT]
Witness panel:
Maria Cox Lamm, South Carolina Department of Natural Resources, on behalf of the Association of State Flood Plain Managers
Christopher Heidrick, Heidrick & Company Insurance and Risk Management Services, LLC, on behalf of the Independent Agents Insurers and Brokers of America
Velma Smith, Senior Officer, The Pew Charitable Trusts
Mabél Guzmán, Broker, @properties, on behalf of the National Association of Realtors
Collin O’Mara, President and CEO, National Wildlife Federation, on behalf of the SmarterSafer Coalition
Raymond J. Lehmann, Director of Finance, Insurance and Trade Policy, Street Institute

Financial Services Subcommittee on National Security, International Development, and Monetary Policy, Hearing: Promoting Corporate Transparency: Examining Legislative Proposals to Detect and Deter Financial Crime
Wednesday, March 13 at 2:00pm
2128 Rayburn
Legislation:
H.R. 389, “Kleptocracy Asset Recovery Rewards Act” [PDF]
H.R.____, “Corporate Transparency Act of 2019” [DRAFT]
H.R.____, “To make reforms to the Federal Bank Secrecy Act and anti-money laundering laws, and for other purposes” [DRAFT]
Witness panel:
Jacob Cohen, Former Director, Office of Stakeholder Engagement, FinCEN
Dennis M. Lormel, President & CEO, DML Associates, LLC
Amit Sharma, CEO, FinClusive

Financial Services Subcommittee on Investor Protection, Entrepreneurship and Capital Markets, Hearing: Putting Investors First? Examining the SEC’s Best Interest Rule.
Thursday, March 14 at 9:30am
2128 Rayburn
Witness panel not yet published.
More info available here.

Judiciary

Judiciary Subcommittee on Antitrust, Commercial, and Administrative Law, Hearing: The State of Competition in the Wireless Market: Examining the Impact of the Proposed Merger of T-Mobile and Sprint on Consumers Workers and the Internet
Tuesday, March 12 at 2:00pm
2141 Rayburn
Witness panel not yet published.
More info available here.

Oversight and Reform

Oversight and Reform, Business Meeting: Commerce Secretary Wilbur L. Ross Jr.
Thursday, March 14 at 10:00am
2154 Rayburn
Witness panel:
Commerce Secretary Wilbur L. Ross Jr.

Ways and Means

Ways and Means Subcommittee on Social Security, Hearing: Protecting and Improving Social Security: Enhancing Social Security to Strengthen the Middle Class
Tuesday, March 12 at 10:00am
2020 Rayburn
Witness panel:
Joan Ruff, Chair, Board of Directors, AARP
Kate Farrar, Executive Director, Connecticut Women’s Education and Legal Fund
Maya Rockeymoore Cummings, President and CEO, Global Policy Solutions
Joseph Semprevivo, President and CEO, Joseph’s Lite Cookies
Yanira Cruz, President and CEO, National Hispanic Council on Aging
Ilana Boivie, Research Economist, International Association of Machinists and Aerospace Workers, AFL-CIO

Ways and Means, Hearing: Temporary Policy in the Internal Revenue Code
Tuesday, March 12 at 2:00pm
1100 Longworth
Witness panel:
Mark Mazur, Ph.D, Robert C. Pozen Director, Urban-Brookings Tax Policy Center
Pam Olson, U.S. Deputy Tax Leader and Washington National Tax Services Leader, PricewaterhouseCoopers
Chye-Ching Huang, Director of Federal Fiscal Policy, Center on Budget and Policy Priorities
Judy K. Sakaki, Ph.D, President, Sonoma State University
Kyle Pomerleau, Chief Economist and Vice President of Economic Analysis, Tax Foundation

Ways and Means Subcommittee on Social Security, Hearing: Protecting and Improving Social Security: Benefit Enhancements
Wednesday, March 13 at 2:00pm
2020 Rayburn
Witness panel:
Max Richtman, President and CEO, National Committee to Preserve Social Security and Medicare
Bette Marafino, President, Connecticut Alliance for Retired Americans
Abigail Zapote, Executive Director, Latinos for a Secure Retirement
Andrew Biggs, Resident Scholar, American Enterprise Institute
Joan Entmacher, Senior Fellow, National Academy of Social Insurance
Donna Butts, Executive Director, Generations United

Ways and Means, Hearing: The President’s Fiscal Year 2020 Budget Proposal with U.S. Secretary of the Treasury Steven Mnuchin
Thursday, March 14 at 9:00am
1100 Longworth
Witness panel:
Steven Mnuchin, U.S. Secretary of the Treasury

House Floor Activity

Legislation Considered Pursuant to a Rule:

H.Con. Res. 24 Expressing the sense of Congress that the report of Special Counsel Mueller should be made available to the public and to Congress [PDF] This concurrent resolution would call for the public release of any report provided by Special Counsel Mueller to the Attorney General except where expressly prohibited by law.

Legislation Considered Under Suspension of the Rules: 

Financial Services, Foreign Affairs, Intelligence, Oversight and Reform, and Judiciary legislation is expected on the floor.

Financial Services Suspensions:

H.R. 1122 Housing Choice Voucher Mobility Demonstration Act of 2019 [PDF] Legislation from Rep. Cleaver to authorize HUD to implement a housing related demonstration program with Public Housing Agencies.

H.R. 974 Federal Reserve Supervision Testimony Clarification Act [PDF] Legislation from Rep. Gottheimer requiring the Vice Chairman for Supervision of the Federal Reserve Board to provide a written testimony on board efforts regarding the supervision of certain financial institutions. If such position is vacant, another specified representative of the board must testify.

H.R. 1414 FinCEN Improvement Act of 2019 [PDF] Legislation from Rep. Wexton to ensure FinCEN works with Tribal law enforcement agencies, and treating matters related to terrorism finance and virtual currencies.

H.R. 758 Cooperate with Law Enforcement Agencies and Watch Act of 2019 [PDF]Legislation from Rep. Hill to limit a financial institution’s liability for maintaining customer accounts or transactions in compliance with law enforcement.

H.Res. 206 Acknowledging that the lack of sunlight and transparency in financial transactions and corporate formation poses a threat to our national security and our economy’s security and supporting efforts to close related loopholes [PDF] A resolution related to transparency in financial institutions, Bank Secrecy Act, and AML with relation to national security.

List of Other Suspensions:

H.Res. 156 Calling for accountability and justice for the assassination of Boris Nemtsov, as amended [PDF]
H.R. 596 Crimea Annexation Non-recognition Act, as amended [PDF]
H.R. 1404 Vladamir Putin Transparency Act, as amended [PDF]
H.R. 1617 KREMLIN Act [PDF]
H.R. 1582 Electronic Message Preservation Act [PDF]
H.R. 1608 Federal Advisory Committee Act Amendments of 2019 [PDF]
H.R. 736 Access to Congressionally Mandated Reports Act [PDF]
H.R. 1654 Federal Register Modernization Act [PDF]

U.S. Senate

Senate Committee Activity

Agriculture

Agriculture, Nutrition, and Forestry, Hearings to examine the nominations of Heath P. Tarbert, of Maryland, to be Chairman, and to be a Commissioner of the Commodity Futures Trading Commission.
Wednesday, March 13 at 10:00am
328A Russell
Witness panel:
Mr. Heath P. Tarbert, Nominee, To be Chairman and a Commissioner of the Commodity Futures Trading Commission

Banking

Banking, Housing, and Urban Affairs, Hearings to examine the Consumer Financial Protection Bureau’s Semi-Annual Report to Congress.
Tuesday, March 12 at 10:00am
538 Dirksen
Witness panel:
The Honorable Kathleen L. Kraninger, Director, Consumer Financial Protection Bureau.
The Committee will also consider several nominations:
Mr. Jeffrey Nadaner, of Maryland, to be an Assistant Secretary of Commerce, Department of Commerce; Ms. Claudia Slacik, of New York, to be a Member of the Board of Directors of the Export-Import Bank; The Honorable Thelma Drake, of Virginia, to be Federal Transit Administrator, Department of Transportation.

Banking, Housing, and Urban Affairs, Hearings to examine Financial Stability Oversight Council nonbank designations.
Thursday, March 14 at 10:00am
538 Dirksen
Witness panel:
Mr. Douglas Holtz-Eakin, President, American Action Forum
Mr. Paul Schott Stevens, President and CEO, Investment Company Institute
Professor Jeremy C. Kress, Assistant Professor of Business Law, University of Michigan Ross School of Business.

Budget

Budget, Hearings to examine the President’s proposed budget request for fiscal year 2020.
Wednesday, March 13 at 2:30pm
608 Dirksen
Witness panel:
Honorable Russell T. Vought, Acting Director, Office of Management and Budget

Commerce

Commerce, Science, and Transportation Subcommittee on Communications, Technology, Innovation, and the Internet, Hearings to examine the impact of broadband investments in rural America.
Tuesday, March 12 at 2:30pm
216 Hart
Witness panel:
Mr. Justin Forde, Senior Director of Government Relations, Midcontinent Communications
Dr. Mark Jamison, Visiting Scholar, American Enterprise Institute
Mr. Denny Law, General Manager and Chief Executive Officer, Golden West Telecommunications
Ms. Carol Mattey, Principal, Mattey Consulting, LLC

Finance

Finance, Hearings to examine the President’s proposed budget request for fiscal year 2020 for the Department of Health and Human Services.
Thursday, March 14 at 10:15am
215 Dirksen
Witness panel:
The Honorable Alex M. Azar II, Secretary, United States Department of Health and Human Services

Finance, Hearings to examine the President’s proposed budget request for fiscal year 2020 for the Department of the Treasury.
Thursday, March 14 at 1:30pm
215 Dirksen
Witness panel:
The Honorable Steven Mnuchin, Secretary Of The Treasury, United States Department of the Treasury

Senate Floor Activity

This week the Senate will resume consideration of Executive Calendar #19, Paul B. Matey, of New Jersey, to be United States Circuit Judge for the Third Circuit.

 

Senator McConnell has filed cloture on Executive Calendar #19, Paul B. Matey, of New Jersey, to be United States Circuit Judge for the Third Circuit; Executive Calendar #107, Neomi J. Rao, of the District of Columbia, to be United States Circuit Judge for the District of Columbia Circuit; and Executive Calendar #98, William Beach, of Kansas, to be Commissioner of Labor Statistics, Department of Labor.


During the balance of the week, the Senate may consider any cleared legislative and executive business. This may include other nominations as well as legislation to provide disaster relief funding to certain agencies within the federal government, S. 572.

  1. 572 A bill to provide for additional supplemental appropriations for disaster relief. [PDF]This disaster relief spending package which allocates approximately $13.6 billion tracks closely with the House disaster package passed in January. The house companion allocated $14.2 billion. According to Appropriations Chairman Shelby it’s possible that this legislation pass before the end of the week.
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