September 01, 2017

Congress returns this week: Flood insurance, government funding on agenda

Congress is back in full swing this week, and NAFCU Vice President of Legislative Affairs Brad Thaler details lawmakers' to-do list in a new NAFCU Today video, including the need to address fiscal 2018 government funding, reauthorize the National Flood Insurance Program (NFIP) and raise the debt ceiling, all by month's end.

Thaler also mentions possible action soon by the Senate on a House-passed Congressional Review Act resolution to withdraw the CFPB's recent arbitration rulemaking. In the coming weeks and months, Thaler says, Congress and the administration will also continue work on tax reform, regulatory relief, housing finance reform and data security.

"All these issues and more will be addressed during next week's Congressional Caucus," says Thaler.

Congress this week will also be holding hearings addressing economic growth and the financial regulatory regime. Hearings include:

  • The House Education and Workforce Committee will hold a hearing Wednesday titled, "The Sharing Economy: Creating Opportunities for Innovation and Flexibility."
  • On Wednesday, the House Financial Services Subcommittee on Terrorism and Illicit Finance will hold a hearing on how to combat the financing of "lone-wolf and small-scale terrorist attacks."
  • The House Financial Services Subcommittee on Capital Markets, Securities, and Investments will hold a hearing Thursday evaluating the oversight of the financial industry's regulatory authority.
  • Also on Thursday, the House Financial Services Subcommittee on Financial Institutions and Consumer Credit will look at legislative proposals for a more efficient federal financial regulatory regime.
  • The House Small Business Subcommittee on Economic Growth, Tax, and Capital Access on Thursday is holding a hearing examining the small business labor market.
  • Also of note Thursday, the Senate Banking Committee will vote on the nominations of Randal Quarles to serves as Federal Reserve governor and Joseph Otting to serve as Comptroller of the Currency.

The Senate Appropriations Committee this week will continue its review of fiscal 2018 appropriations bills.

NAFCU also has a busy week on the regulatory front; read more here.