Newsroom
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.
Share This
Related Resources
Add to Calendar 2024-04-15 09:00:00 2024-04-15 09:00:00 Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs Listen On: Key Takeaways: [03:50] With the merger of a smaller credit union into a larger one you are really only dealing with integrating staff into the larger credit union. [05:53] When working with a merger of equals we start with a deep dive into the executive compensation and benefits of each organization. [09:09] If your current executive benefits provider doesn’t conduct regular plan evaluations, consider having a plan audit anyway. [13:46] Don’t overpay for these things if you don’t have to. When you have more options available that means the cost is more appropriate. [17:11] It is in a unified organization’s best interest to do tier timelines where we look at your top executives who are critical to the unified organization’s success today and then slowly add in the next levels. Web NAFCU digital@nafcu.org America/New_York public
Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs
preferred partner
Gallagher
Podcast
Add to Calendar 2024-04-11 14:00:00 2024-04-11 14:00:00 Regulation E: Impacts Across Your Institution Dive into regulatory excellence with, Regulation E: Impacts Across Your Institution. This webinar is tailored to empower you with the knowledge and strategies necessary to effectively implement the Electronic Funds Transfer Act (EFTA) and Regulation E within your operations. You’ll explore how to apply Regulation E across various business areas to ensure compliance obligations are met with precision. Key Takeaways Learn the basics of EFTA and Regulation E Understand how to apply Regulation E at your organization to detect processes and transactions that require Regulation E compliance Discover how Regulation E may apply to a large breath of areas in your institutions and functions for which you may rely on third-party vendors Review recent enforcement activity for non-compliance with EFTA and Regulation E Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until April 11, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk 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 Web NAFCU digital@nafcu.org America/New_York public
Regulation E: Impacts Across Your Institution
Credits: NCCO, NCRM
Webinar
Refining the Consumer Loan Experience
Credit Unions, Education, Consumer Lending, Growth & Retention, Current Affairs, Marketing
preferred partner
Securian Financial
Blog Post
Knowledge breeds empathy: New research puts credit union lenders in the minds of today’s borrower
Planning, Auto Loans, Research
preferred partner
TruStage
Blog Post
Get daily updates.
Subscribe to NAFCU today.