NAFCU watching for movement on housing finance, patent reform
May 12, 2014 – NAFCU this week will be monitoring possible movement of
the Johnson-Crapo housing finance reform package in the Senate Banking
Committee as well as a potential mark-up of patent reform legislation in
the Senate Judiciary Committee.
The Senate Banking Committee
opened a mark-up of the housing finance reform measure authored by
committee Chairman Tim Johnson, D-S.D., and Ranking Member Mike Crapo,
R-Idaho, a couple weeks ago but paused to give members more time to
review the bill. However, it was reported Thursday
that six key Senate Democrats decided against supporting the package
unless major changes are made. The current sentiment around Capitol Hill
is that while passage isn’t impossible this year, the odds of that have
NAFCU lobbyists have learned that the committee plans to resume mark-up on Thursday. The association has been in contact with Senate
Banking members, other members of the House and Senate, the White House,
Federal Housing Finance Agency and more to ensure that small
institutions have equal, competitive access to the secondary mortgage
market in any future housing finance system. It has meanwhile raised concerns about costs and uncertainty surrounding the proposed reforms. It has made several recommendations with other financial trade organizations to improve the discussion draft.
Senate Judiciary Committee also postponed its planned markup of S.
1720, the “Patent Transparency and Improvements Act of 2013” in order to
try to work out a bipartisan deal on the bill, and may consider the
bill this week. Introduced by committee Chairman Patrick Leahy, D-Vt.,
S. 1720 is meant to increase transparency in the ownership of patents
and protect consumers against frivolous patent-infringement lawsuits.
has been working in support of patent reform legislation, including
House-passed H.R. 3309, the “Innovation Act,” introduced by House
Judiciary Committee Chairman Bob Goodlatte, R-Va., and two separate
bills from Sens. Charles Schumer, D-N.Y., and Hatch that would help
discourage patent trolls from filing frivolous lawsuits.
Thursday, the Senate Homeland Security and Government Affairs Permanent
Subcommittee on Investigations will hold a hearing on consumer security
and data privacy in the online advertising industry. The panel is
investigating data collection processes and security vulnerabilities
that have led to costs for Internet users and businesses.
The House is in a week-long recess and is scheduled to return next week.
"Report: 6 key Democrats won't OK housing finance measure" 5/9/14
"NAFCU weighs in on housing finance reform draft" 4/14/14
Housing finance reform