On Tuesday, the U.S. House of Representatives passed the following bills, offered by House Financial Services Committee Members, and managed on the House floor by Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee.
H. Res. 456, Emphasizing the Importance of State Regulators, a bipartisan resolution emphasizing the investor protection and education missions of state and federal security regulators and calling on the Securities and Exchange Commission (SEC) to collaborate with state security regulators.
This resolution was introduced by Rep. Ayanna Pressley (D-MA) and Rep. Bill Huizenga (R-MI).
It passed by a voice vote.
H.R. 1988, the Protect Affordable Mortgages for Veterans Act of 2019, bipartisan legislation which addresses unintended administrative complications that resulted from implementation of Section 309 of S. 2155, the “Economic Growth, Regulatory Relief, and Consumer Protection Act.” This legislation clarifies requirements for certain refinanced U.S. Department of Veterans Affairs (VA) mortgage loans to allow them to be securitized by Ginnie Mae, thereby enabling those banks to make additional loans, including to veterans.
This bill was introduced by Rep. David Scott (D-GA) and Rep. Lee Zeldin (R-NY).
It was approved on a voice vote.
H.R. 2162, The Housing Financial Literacy Act of 2019, bipartisan legislation that requires the U.S. Department of Housing and Urban Development (HUD) to provide a 25-basis-point discount in upfront Federal Housing Administration (FHA) single-family mortgage insurance premiums for first-time-homebuyers who complete a housing counseling program to help them sustain homeownership.
This bill was introduced by Rep. Joyce Beatty (D-OH), Chairwoman of the Subcommittee on Diversity and Inclusion, and Rep. Steve Stivers (R-OH).
It passed by a voice vote.
H.R. 2409, Expanding Access to Capital for Rural Job Creators, bipartisan legislation that would require the SEC to identify unique challenges rural small businesses face in securing capital, and to describe the most serious issues that these businesses and their investors face in its annual report to Congress.
This legislation was introduced by Rep. Cindy Axne (D-IA) and Rep. Alex Mooney (R-WV).
It passed by a vote of 413-7.
H.R. 2515, the Whistleblower Protection Reform Act of 2019, bipartisan legislation that expands whistleblower protections by amending Dodd-Frank to clarify that whistleblowers who report misconduct to their employers and not to the SEC also have protections against retaliation under the law.
This legislation was introduced by Rep. Al Green (D-TX) and Rep. Bill Huizenga (R-MI).
It passed by a vote of 410-12.
H.R. 2919, Improving Investment Research for Small and Emerging Issuers Act, a bill that requires the SEC to report on investment research regarding small issuers, including emerging growth companies and companies considering initial public offerings.
This legislation was introduced by Rep. Bill Huizenga (R-MI) and Rep. Ben McAdams (D-UT).
It passed by a voice vote.
H.R. 3050, Expanding Investment in Small Businesses Act of 2019, a bill to direct the SEC to report on (1) the limitation on shares of an individual company that a diversified investment company may own, and (2) the limitation's impact on capital formation.
This legislation was introduced by Rep. Bryan Steil (R-WI).
It passed by a vote of 417-2.
See footage of yesterday’s floor activity around H.R. 1988 below.
