GOP preps leadership for 118th Congress; Pelosi, Hoyer, Clyburn step down
Congressional Republicans this week began preparing for the 118th Congress – set to start Jan. 3, 2023 – with votes on some leadership positions and proposed conference rules. For House Democrats, current Speaker Nancy Pelosi, D-Calif., Majority Leader Steny Hoyer, D-Md., and Majority Whip Jim Clyburn, D-S.C., announced Thursday that they would step down from leadership next session.
Pelosi, addressing House Democrats, said it was time for “a new generation to lead the Democratic caucus.” Pelosi was the first female Speaker and both her and Hoyer have been part of Democrats’ House leadership team for two decades; Clyburn has served in leadership since 2007. These departures open three vacancies: Rep. Hakeem Jeffries, D-N.Y., is expected to run for Minority Leader, while Rep. Katherine Clark, D-Mass., and Rep. Pete Aguilar, D-Calif., are expected to be the front runners for the other two open leadership positions.
While Sen. Mitch McConnell, R-Ky., was again elected Senate Minority Leader, the final vote for House Speaker won’t take place until the new Congress starts.
McConnell overcame a challenge from Sen. Rick Scott, R-Fla., to maintain his Senate GOP leadership position. Sens. John Thune, R-S.D., and John Barrasso, R-Wyo., will remain as the Senate’s Minority Whip and Conference Chair, respectively, while Sen. Joni Ernst, R-Iowa, is now the Senate GOP’s Policy Committee Chair, and Sen. Shelley Moore Capito, R-W. Va., is Conference Vice Chair. Sen. Steve Daines, R-Mont., will serve as Chair of the National Republican Senatorial Committee.
In the House, where Republicans officially reached 218 seats in the midterm elections Wednesday evening, Minority Leader Kevin McCarthy, R-Calif., won the House GOP’s speakership nomination. He’ll need to secure 218 votes in January to be confirmed as Speaker.
Rep. Steve Scalise, R-La., was elected House Majority Leader, and Rep. Elise Stefanik, R-N.Y., will remain as Conference Chair. Rep. Tom Emmer, R-Minn., won House Majority Whip.
While some House Republicans sought to change conference rules to make it easier to remove the Speaker, they agreed to language that would require the majority of the conference to approve a motion to vacate the chair. Debates on conference rules are set to continue after Thanksgiving.
Committees will approve majority and minority membership when the next congressional session starts.
NAFCU, as a nonpartisan advocacy organization, will continue its work to support credit union champions in Congress and build relationships with lawmakers on both sides of the aisle.
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Add to Calendar 2023-03-28 14:00:00 2023-03-28 14:00:00 A Deep Dive into FedNow Service Features and 24/7/365 Operations Join part 2 of this FedNow webinar series to deepen your knowledge of FedNow Service features and capabilities to prepare your credit union for 24/7/365 operations. Join Director of FedNow Product Management, Stephanie Miracle, and you’ll explore important operational topics that are top of mind for credit unions including release 1 features, reconcilement, accounting changes, reporting, liquidity management, fraud and risk mitigation, ISO 20022, and how to work with your service provider. Operations, technology and business development staff will find this webinar particularly valuable as they consider tactical next steps to convert to always-on payment operations. Key Takeaways Examine specific FedNow operational topics including reporting, reconcilement, seven-day accounting, liquidity management, ISO 20022 and more. Learn about fraud and risk considerations that are inherent to instant payments, and the Federal Reserve’s fraud mitigation approach and tools. Discover how to best engage with your service provider partners as you embark on your instant payments implementation journey. Register Now Registration is Complimentary, but you must register to view.One registration gives your entire team access to the live webinar and on-demand recording until March 28, 2024.Go to the Online Training Center to access the webinar after purchase » Who Should Attend? Credit union accounting and finance management NCRMs and risk titles NCCOs and compliance titles Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU firstname.lastname@example.org America/New_York public
A Deep Dive into FedNow Service Features and 24/7/365 Operations
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Add to Calendar 2023-03-28 14:00:00 2023-03-28 14:00:00 SECURE 2.0: Creating a New Retirement Plan Foundation About the Webinar The SECURE 2.0 Act of 2022 was passed by Congress and signed into law by the President on December 26th 2022. The law contains 92 provisions, many of which are designed to expand retirement savings and coverage and simplify retirement plan rules. A number of these provisions will serve as the foundation for new plan formation among small businesses and may propel overall increased participation and savings rates. This is one of the largest pieces of retirement plan legislation in some time. This legislation has been anticipated for nearly a year, with key features contained in previously proposed bills presented over the last several years. While some of these features are identical to what was previously proposed, others have been modified to some extent in the final version of the law. Watch On Demand Web NAFCU email@example.com America/New_York public
SECURE 2.0: Creating a New Retirement Plan Foundation
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