The House and Senate convene today at noon and 2 p.m., respectively.
It will be a relatively tame week in Congress given that Republicans are leaving Wednesday for their three-day annual policy retreat in West Sulphur Springs, WV. Democrats will have their policy huddle next week in Cambridge, MD.
Here’s what’s in store for the week:
Bills Under Suspension. The following financial services bills will be taken up under suspension of the rules:
- H.R. 1457 – The MOBILE Act would authorizes a financial institution to record personal information from a scan, copy, or image of an individual’s driver’s license or personal identification card and store the information electronically when an individual initiates an online request to open an account or obtain a financial product.
- H.R. 1426 – The Federal Savings Association Charter Flexibility Act would amend the Home Owners’ Loan Act to permit a federal savings association to elect to operate, subject to supervision by the Office of the Comptroller of the Currency, with the same rights and duties as a national bank.
- H.R. 2255 – The HOME Act would amend the Truth in Lending Act to deem mortgage appraisal services donated by a fee appraiser to an organization that is eligible to receive tax-deductible charitable contributions to be customary and reasonable.
- H.R. 4292 – The Financial Institution Living Will Improvement Act would reform the living will process under the Dodd-Frank Act and Consumer Protection Act by requiring certain institutions to submit resolution plans once every two years. The bill would also require the FDIC and the Fed to provide additional feedback to those financial institutions about their plans and to publicly disclose their assessment framework.
- H.R. 4792 – the Small Business Access to Capital After a Natural Disaster Act would expand access to capital for small businesses affected by hurricanes or other natural disasters.
FY 2018 Defense Spending Bill. The House will take up consideration of H.R. 695, the Defense appropriations bill for fiscal year 2018.
Key Hearings. On Tuesday, the Oversight Subcommittee of the House Ways and Means Committee will hold a member day hearing on legislation to improve tax administration. The House Financial Services Committee will hold a subcommittee hearing to examine opportunities and challenges in the fintech marketplace.
Cloture Votes. The chamber will vote on a cloture motion for the nomination of David Ryan Stras to be the U.S. Circuit Judge for the 8th Circuit. Members will also resume consideration of S. 2311, the Pain-Capable Unborn Child Protection Act, with a cloture vote at 5:30 p.m today.
FSOC Hearing. The Senate Banking Committee will hold a hearing Tuesday to receive the Financial Stability Oversight Council’s (FSOC) annual report. Treasury Secretary Steven Mnuchin is set to testify.
President Donald Trump will head over to Capitol Hill on Tuesday to deliver his first State of the Union – look for the president to offer details on his much-anticipated $1 trillion infrastructure plan.